Session 16 Company accounts
　　Main contents:
　　1.Characteristics of limited companies
　　2.Share capital
　　3.Right issue and bonus issue
　　4.Loan notes
　　5.Income tax
　　6.Dividends
　　7.Financial Statements
　　16.1 Characteristics of limited companies
　　Advantages and disadvantages of a limited company
　　Advantages:
　　●Liability is limited
　　●Formal separation of the business from the owners
　　●Ownership can be shared more easily
　　●Shares can be transferred relatively easily
　　Disadvantages:
　　●Costs of formation of the company
　　●Annual running costs of the company
　　●Directors are subject to greater legislative duties