Brigitte Yin and Kate Yang come to you, their accountant, because they need some business advice as they have developed an app that they believe will be hugely successful. They have decided to formalise their casual arrangement into a business. They would like to call their company Super Cat and trade in that name. Brigitte and Kate will draw a wage and hope to employ an assistant upon commencement. They have little understanding of business and the processes they need to go through. They come to you seeking advice

You will consult with your clients who are intending to set up a business and will outline the business structures available to them, and the risks and impact of each structure, in terms of legal protection, potential liability, contract and other aspects. You will need to explain to them how they can mitigate any or all possible risks to their business

In order to facilitate the meeting with your clients you will set up a set of questions to ask in the interview with them to clarify their circumstances and plans, allowing you to help them effectively.

You are required to: answer the question

1. What registration processes would they need to go through for their business including company registration?
2. What information would they require to provide to you to register a company?
3. After company registration, what records must be kept?