Internal operating activities include research and development, distribution, and human resources.
The primary objective of financial accounting is to provide general purpose financial statements to help external users analyze and interpret an organization’s activities.
Your claim may be considered preferential, which means you will be paid out before the unsecured creditors if there are funds available.
Emergency financial assistance may be available from Work and Income New Zealand (WINZ), your local City Mission or the food bank.
Directors are also required to help the liquidator locate the business records and assets, and to answer any questions about the company and its business.
If a dividend is likely to be paid then six-monthly update reports will also be sent.
Regulators often have legal authority over certain activities of organizations.
Internal users include lenders, shareholders, brokers and managers.
Trading companies are usually closed down, although sometimes they may continue to trade for a short time so the business can be sold.
When the liquidation is complete, the company is removed from the Companies Office Register.