Fancy Furry Felines Pty Ltd (FFF) is a company that retails products for cats both through physical shops and online. The online business has boomed throughout the pandemic. The company is classified as a large proprietary company for the 2020/21 financial year. The directors of the company, Sid and Nancy, are considering whether FFF should become a public company (although not listing on the ASX at this stage). Required: Explain to Sid and Nancy the advantages and disadvantages of keeping the company as a Pty Ltd company or transforming it into a Ltd company.

Fancy Furry Felines Pty Ltd (FFF) is a company that retails products for cats both through physical shops and online. The online business has boomed throughout the pandemic. The company is classified as a large proprietary company for the 2020/21 financial year. The directors of the company, Sid and Nancy, are considering whether FFF should become a public company (although not listing on the ASX at this stage). Required: Explain to Sid and Nancy the advantages and disadvantages of keeping the company as a Pty Ltd company or transforming it into a Ltd company.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 1PA: You are a CPA who has been hired by DEF Company to assist with their initial public offering....

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