Company Secretaries Africa

Liquidation of a company is that the process a debt-laden company initiates to finish up its operations and sell its assets so as to repay said liabilities and other obligations. A company is liquidated when it is ascertained that the business is not in any state to continue. Men shaking handsLiquidation is the process a debt-laden company initiates to wind up its operations and sell its assets in order to repay said liabilities and other obligations. A company is liquidated when it is ascertained that the business is not in any state to continue. This may be due to various reasons such as insolvency (usually the main reason), unwillingness to carry on with the operations, etc. If the enterprise is bankrupt, the liquidator sells the company’s assets to repay all liabilities. The positive balance after repaying the creditors is then distributed among the company’s shareholders.   The liquidator A liquidator is a private who has been appointed to dissolve the corporate and terminate...

Taking care of the cash flow is crucial for your business’ success. It gets a bit complicated when the company grows, and there are multiple employees and subcontractors working on various projects with different clients. There are some ways to charge for consultancy services in Kenya , and yet almost every consultant-client relationship is exclusive, requiring a special treatment when the time for invoicing comes. Time and material based invoicing If you and your client agree upon time and material based invoicing, you multiply the number of hours spent on the tasks with the hourly rate and add the prices of the materials you use. If multiple people are working on the project, the hourly rates may vary and you must keep track of all of them. You usually calculate the interior cost (hours and materials spent) at the top of every month and charge it to your customer. Pre-paid hours This type of contract allows clients to shop for and buy a pool of working time and material beforehand. ...