RSM225H1 Chapter Notes - Chapter 4: Financial Statement, Corporate Security, Issued Shares
Document Summary
For-profit (share capital) corporation: public corporation, private corporation, federal (canada) corporation, provincial (ontario) corporation, professional corporation. Corporations that are allowed to make profits and distribute the profits to their owners (2) See handout of ontario articles of incorporation. Articles of incorporation is a public document. Directors: names and addresses of first directors. Shares all of the classes of shares the corporation may issue: the rights attached to each such class, note that the articles do not show any information about the shareholders of the corporation. Only certain types of professions can use professional corporations. In ontario this includes: chartered accountants, certified general accountants, lawyers, doctors, dentists, social workers, veterinarians. 4 requirements to have a professional corporation in ontario: articles of incorporation: (a)must first be approved by the profession"s governing body, e. g. canadian institute of chartered accountants, Formed by filing articles of incorporation: detailed requirements set out in (2) above.
