AFM231 Chapter Notes - Chapter 15: Transact, Shelf Corporation, Debenture

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM231
• Professor: Robert Timberg

Document Summary

Corporate officers are hired by the board of directors and manages the day-to-day operations of the corporation: external stakeholders are those who have dealings with or are affected by the corporation, such as customers, public, employees, creditors. Generally, exempt from most of the obligations of securities regulations. Its useful when a corporate must be created (cid:395)ui(cid:272)kly, o(cid:396) diffi(cid:272)ulty (cid:272)o(cid:373)i(cid:374)g up (cid:449)ith (cid:374)a(cid:373)e, o(cid:396) (cid:449)he(cid:374) the(cid:396)e"s a (cid:449)ish to (cid:272)(cid:396)eate a shelf (cid:272)o(cid:373)pa(cid:374)y: shelf company a company that does not engage in active business. Often incorporated by law firms for future use of their clients if needed. The process of incorporation: articles of incorporation the document that defines the basic characteristics of corporations incorporated in. Nfl, nb, on, mb, sk, ab, and the federal jurisdiction. Incorporator the person who sets the incorporation process in motion. Then directors carry on management until next annual meeting which they report to shareholders on the performance.