LAWS20059-Advise Clients On How To Structure Business


You are working at an accounting firm. Your overall task is to advise clients on how to structure their business – either as a partnership or company. The clients’ circumstances are extremely important considerations.
You should not consider the topic of trusts, as they are used primarily to minimise tax, and tax law is not part of this course. (Assume that the clients instruct you that they’ve had bad past experience with trusts because of the extra administration and accountancy fees that trusts create, and they don’t want to do that again). You should also avoid any advice on tax. The tax implications of business structures are more complicated than websites suggest, and since tax is not part of this course, you
should avoid it. (Assume that the clients specifically instruct you not to advise on tax). In order to provide this advice you need to perform several sub-tasks:-
1. Research the law relevant to your advice.
2. Provide a written report to your supervising partner on your research.
3. Provide a written report to your supervising partner weighing up the alternatives for your clients and making a recommendation for a particular business structure.
4. Provide a separate written report to the supervising partner on the selected case showing the responsibilities imposed on a company director by legislation.
5. Provide an oral advice (in plain language) to the client in the form of a YouTube video, advising on the law, weighing up the alternatives and providing a recommendation.
Part 1 – Report to supervising partner on your research
Part 2 – Report to supervising partner setting out your argument weighing up the two alternatives and providing a recommendation
Part 3 – A report on the significance of the case, ASIC v Adler (2002) 20 ACLC 576; 41 ACSR 72, to company directors. In the report explain how the case is a relevant illustration of the responsibilities and regulation of directors of a company.
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