Omnibus books
Sun, 17 Oct 1999, 08:38 pmWalter Plinge5 posts in thread
Omnibus books
Sun, 17 Oct 1999, 08:38 pmHello Grant
To begin with, has anyone asked to see the Omnibus books in relation to the Secret Garden? Secondly , has anyone got the right to ask to see the books?
Are Omnibus Incorperated,or are they just a registered business name? Are the directors(Partners) of Omnibus personally responsible and hence legaly liable for all costs associated with their productions? It is my belief, and of course I am open to erring, that a PTY LTD company does not have to open its books to the public, nor does a "company" who are in fact only a registered business name. Incorperations, such as the Scouts, are non profit and do have to show their books.So, perhaps we need to first ascertain exactly which category Omnibus fits into.
Again , with regards to the paid musicians I seem to remember a slightly barbed question in relation to how often do the musicians attend rehersals. In defence of the pianist for Omnibus I would like to point out that , in essence he attended EVERY rehersal (three times a week). I just thought the record should be set straight with regards to that particular musician. Thank you again for your attention
To begin with, has anyone asked to see the Omnibus books in relation to the Secret Garden? Secondly , has anyone got the right to ask to see the books?
Are Omnibus Incorperated,or are they just a registered business name? Are the directors(Partners) of Omnibus personally responsible and hence legaly liable for all costs associated with their productions? It is my belief, and of course I am open to erring, that a PTY LTD company does not have to open its books to the public, nor does a "company" who are in fact only a registered business name. Incorperations, such as the Scouts, are non profit and do have to show their books.So, perhaps we need to first ascertain exactly which category Omnibus fits into.
Again , with regards to the paid musicians I seem to remember a slightly barbed question in relation to how often do the musicians attend rehersals. In defence of the pianist for Omnibus I would like to point out that , in essence he attended EVERY rehersal (three times a week). I just thought the record should be set straight with regards to that particular musician. Thank you again for your attention
Walter PlingeSun, 17 Oct 1999, 08:38 pm
Hello Grant
To begin with, has anyone asked to see the Omnibus books in relation to the Secret Garden? Secondly , has anyone got the right to ask to see the books?
Are Omnibus Incorperated,or are they just a registered business name? Are the directors(Partners) of Omnibus personally responsible and hence legaly liable for all costs associated with their productions? It is my belief, and of course I am open to erring, that a PTY LTD company does not have to open its books to the public, nor does a "company" who are in fact only a registered business name. Incorperations, such as the Scouts, are non profit and do have to show their books.So, perhaps we need to first ascertain exactly which category Omnibus fits into.
Again , with regards to the paid musicians I seem to remember a slightly barbed question in relation to how often do the musicians attend rehersals. In defence of the pianist for Omnibus I would like to point out that , in essence he attended EVERY rehersal (three times a week). I just thought the record should be set straight with regards to that particular musician. Thank you again for your attention
To begin with, has anyone asked to see the Omnibus books in relation to the Secret Garden? Secondly , has anyone got the right to ask to see the books?
Are Omnibus Incorperated,or are they just a registered business name? Are the directors(Partners) of Omnibus personally responsible and hence legaly liable for all costs associated with their productions? It is my belief, and of course I am open to erring, that a PTY LTD company does not have to open its books to the public, nor does a "company" who are in fact only a registered business name. Incorperations, such as the Scouts, are non profit and do have to show their books.So, perhaps we need to first ascertain exactly which category Omnibus fits into.
Again , with regards to the paid musicians I seem to remember a slightly barbed question in relation to how often do the musicians attend rehersals. In defence of the pianist for Omnibus I would like to point out that , in essence he attended EVERY rehersal (three times a week). I just thought the record should be set straight with regards to that particular musician. Thank you again for your attention
Walter PlingeSun, 17 Oct 1999, 10:05 pm
Re: Omnibus books
EMAILNOTICES>no
> It is my belief, and of course I am open to erring, that a PTY LTD
> company does not have to open its books to the public, nor does a
> "company" who are in fact only a registered business name.- So why do big Pty Ltd companies have to print annual reports which must contain their financial statements for the year?
> It is my belief, and of course I am open to erring, that a PTY LTD
> company does not have to open its books to the public, nor does a
> "company" who are in fact only a registered business name.- So why do big Pty Ltd companies have to print annual reports which must contain their financial statements for the year?
Walter PlingeSun, 17 Oct 1999, 10:36 pm
Re: Omnibus books
>> - So why do big Pty Ltd companies have to print annual reports
> which must contain their financial statements for the year?Well..I am so glad you asked according to the Australian Corporations Securities Legislation the Pty Ltd companies must make available to the ASIC an annual report, which sets out directors names and dates of meetings etc. A Pty Ltd is not bound to inform the ASIC of it's annual turnover , especially in the case of a "small company" as different rules apply to differnt company turnovers.
If the company is publicly listed then it must make available financial statements to it's sharholders. This financial statement thewn goes on to form part of the annual report which is then forwarded to the ASIC. An unlisted private company, which can have up to 20 private share holders, is bound to report its financial statement to the shareholder and not to the ASIC and hence not to the public.
It goes without saying that both public and private Pty Ltd companies must still make the financial status of the company known to the Taxation Department
> which must contain their financial statements for the year?Well..I am so glad you asked according to the Australian Corporations Securities Legislation the Pty Ltd companies must make available to the ASIC an annual report, which sets out directors names and dates of meetings etc. A Pty Ltd is not bound to inform the ASIC of it's annual turnover , especially in the case of a "small company" as different rules apply to differnt company turnovers.
If the company is publicly listed then it must make available financial statements to it's sharholders. This financial statement thewn goes on to form part of the annual report which is then forwarded to the ASIC. An unlisted private company, which can have up to 20 private share holders, is bound to report its financial statement to the shareholder and not to the ASIC and hence not to the public.
It goes without saying that both public and private Pty Ltd companies must still make the financial status of the company known to the Taxation Department
Walter PlingeMon, 18 Oct 1999, 02:22 pm
Re: Omnibus books
EMAILNOTICES>noWhether or not Omnibus *has* to show its books isn't really the case - if it is an accountable organisation and has nothing to hide, surely it should be willing to show them, whether or not it has to?
Walter PlingeTue, 19 Oct 1999, 07:25 am
Re: Omnibus books
> Whether or not Omnibus *has* to show its books isn't really the
> case - if it is an accountable organisation and has nothing to hide,
> surely it should be willing to show them, whether or not it has to?I guess the key word here is "IF". If Omnibus is an accountable organisation. The business status of Omnibus is yet to be established. Once that has been done then, we can establish its accountability to the public.
>
> case - if it is an accountable organisation and has nothing to hide,
> surely it should be willing to show them, whether or not it has to?I guess the key word here is "IF". If Omnibus is an accountable organisation. The business status of Omnibus is yet to be established. Once that has been done then, we can establish its accountability to the public.
>