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Difference Between Incorporation Year And Established Year? - Business - Nairaland

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Difference Between Incorporation Year And Established Year? by routik(m): 4:00am On Mar 23, 2016
Hello people,

I need clarification on the difference between Incorporation year and Established year.

I am aware that year of incorporation is the year that appears on your company's CAC certificate. But when you see Established year, does it mean the year you started operations or is it the same thing with year of incorporation?

If they are different, which one do you select in celebrating your company's anniversary?, as many businesses didn't start operations the same year they were incorporated.

Your reasonable input will be highly appreciated.

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Re: Difference Between Incorporation Year And Established Year? by routik(m): 2:53pm On Mar 23, 2016
?
Re: Difference Between Incorporation Year And Established Year? by boboLIL(m): 4:45pm On Mar 23, 2016
Came to learn as you too...

3 Likes 1 Share

Re: Difference Between Incorporation Year And Established Year? by jektony(m): 4:45pm On Mar 23, 2016
Dis Space is 4 sell!
Re: Difference Between Incorporation Year And Established Year? by merits(m): 4:45pm On Mar 23, 2016
Establshed year (first pix)


Incorporation year (second pix)


I don't know how to explain,just study the pix and deduce your answer.

Attached are the pics below.

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Re: Difference Between Incorporation Year And Established Year? by diasporaman(m): 4:46pm On Mar 23, 2016
??
Re: Difference Between Incorporation Year And Established Year? by MadCow1: 4:46pm On Mar 23, 2016
Year of Incorportation: This is the year you started to co-operate with Guys.

Year of Establishment This is the year you Established a.k.a the year you Hammer.



cool


Dont Thank me, thank God.


EDITED:: Okay, so after being called out by some people for being unserious, I have decided to be serious.. SO SERIOUSLY SPEAKING NOW

OP, since you are confused with the Establishment date, I will give you an example.. Have you seen a FirstBank Sign? Example below..



Thats what they are asking. That date may not be the same as the Date it got incorporated. Infact it shouldnt be the same as the incorporation date.

Many Businesses have signs with the 'Est. Since 9120', e.t.c.. The Date of Incorporation may be Older or Younger than the date of Establishment.

For my company, the date of Incorporation is 3 years older than the date of Establishment.



I hope this answers your question..


Cc: Ujsizzle & franciskane. I hope you guys are cool now.. grin Please keep me in your prayers.. I think I am actually Mad.

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Re: Difference Between Incorporation Year And Established Year? by seunlayi(m): 4:46pm On Mar 23, 2016
How I wish somebody could have ask one of our Presidential aspirant during the last electioneering debate. Guess what grin grin grin grin

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Re: Difference Between Incorporation Year And Established Year? by franciskaine(m): 4:46pm On Mar 23, 2016
Whr are the management experts? From my basic knowledge, I think incorporation simply means when a biz gets legal approval to start operation from the Corporate Affairs Commission. On the other hand, year of establishment means the actual year the biz starts its operation. For instance, a biz might get its approval in 2015 and begin its actual operation in 2016.

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Re: Difference Between Incorporation Year And Established Year? by MyTime3(m): 4:46pm On Mar 23, 2016
Yes @ OP. The Year you started the business is the "Established Year" while the Year you Registered the business with CAC is the "Incorporated Year".

Anniversaries are usually done with the Year of Establishment which is usually earlier or the same as the year of Incorporation.


In order words.. "You CAN Establish before you Incorporate", You CAN "Establish and Incorporate at the same time" but "You CANNOT Incorporate before you Establish"

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Re: Difference Between Incorporation Year And Established Year? by Nobody: 4:47pm On Mar 23, 2016
I don't have an idea, just wanna make fp, check the second page you will find the answers you seek

1 Like

Re: Difference Between Incorporation Year And Established Year? by SageTravels: 4:48pm On Mar 23, 2016
ok
Re: Difference Between Incorporation Year And Established Year? by Nobody: 4:48pm On Mar 23, 2016
Am coming wait for me
Re: Difference Between Incorporation Year And Established Year? by seunlayi(m): 4:48pm On Mar 23, 2016
I love most of the threads that made it to fp on nairaland today. No snakes.... No tonto dike,....etc Is Lai...... on break?

5 Likes 1 Share

Re: Difference Between Incorporation Year And Established Year? by davodyguy: 4:48pm On Mar 23, 2016
Incorporation = certificate of registration under CAMA 1990 or with CAC

Established: the day you opened shop and started trading

Both could also be same day

5 Likes

Re: Difference Between Incorporation Year And Established Year? by Godswillnwaoma(m): 4:49pm On Mar 23, 2016
.
Re: Difference Between Incorporation Year And Established Year? by jaz(m): 4:49pm On Mar 23, 2016
date of incorporation is the same as the date the enterprise was established. however incorporation date may be different from date of commencement of operations/business. where the business has been incorporated but not commenced business, the floaters prepare and file "statement of affairs" while after commencement of operations, financial statements are prepared. tax implications also differ.

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Re: Difference Between Incorporation Year And Established Year? by damola311: 4:50pm On Mar 23, 2016
MyTime3:
Yes @ OP. The Year you started the business is the "Established Year" while the Year you Registered the business with CAC is the "Incorporated Year".

Anniversaries are usually done with the Year of Establishment which is usually earlier or the same as the year of Incorporation.
1.4million likes

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Re: Difference Between Incorporation Year And Established Year? by Kyllahmc(m): 4:50pm On Mar 23, 2016
Simple explanation; incorporation is more like legalizing a new or an already established organisation or a business entity.... while Established yr is the yr of the creation.

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Re: Difference Between Incorporation Year And Established Year? by Nobody: 4:51pm On Mar 23, 2016
I would say YOI is thedate the business came into existence as a legal entity under the law and Est is when you start actual trading. I say this because you could be established as a sole trader long before changing your legal status to a company. They could be the same, it's really a flexible term, use whichever suits your purpose.

2 Likes

Re: Difference Between Incorporation Year And Established Year? by xclusiveguy4(m): 4:51pm On Mar 23, 2016
undecided
Re: Difference Between Incorporation Year And Established Year? by 2rutalk1: 4:51pm On Mar 23, 2016
Year of establishment is the year you set up your business or your business began operations, while the year of incorporation is the year you registered your business with relevant regulatory agencies such as CAC.

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Re: Difference Between Incorporation Year And Established Year? by oc2fish: 4:51pm On Mar 23, 2016
Can some please give the email that can be used to report erring bank to CBN?
Re: Difference Between Incorporation Year And Established Year? by UjSizzle(f): 4:51pm On Mar 23, 2016
MadCow1:
Year of Incorportation: This is the year you started to co-operate.

Year of Establishment This is the year you Established a.k.a the year you Hammer.



cool


Dont Thank me, thank God.
Onye me gi ihe a cry

2 Likes

Re: Difference Between Incorporation Year And Established Year? by AleAirHub(m): 4:52pm On Mar 23, 2016
Noted
Re: Difference Between Incorporation Year And Established Year? by Soundmind(m): 4:52pm On Mar 23, 2016
Year if establishment is the year the business started while year of incorporation is the year it was registered with corporate affairs commission. A business can start for some years before the owner register it with Corporate Affairs Commission (CAC). The year it was registered is the year it becomes a legal person.

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Re: Difference Between Incorporation Year And Established Year? by Nobody: 4:52pm On Mar 23, 2016
MyTime3:
Yes @ OP. The Year you started the business is the "Established Year" while the Year you Registered the business with CAC is the "Incorporated Year".

Anniversaries are usually done with the Year of Establishment which is usually earlier or the same as the year of Incorporation.


in order words.. "You CAN Establish before you incorporate", You CAN "Establish and Incorporate at the same time" but "You CANNOT Incorporate before you Establish"
ur on point.

1 Like

Re: Difference Between Incorporation Year And Established Year? by Teewhy2: 4:52pm On Mar 23, 2016
Incorporated year --+ registered with CAC
Established year ----- year the company started operations.

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Re: Difference Between Incorporation Year And Established Year? by MadCow1: 4:53pm On Mar 23, 2016
UjSizzle:

Onye me gi ihe a cry


O'kwa ife'm mua ka na ju onwe'm since 1942 mgbe ara'm a' bido.. grin

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Re: Difference Between Incorporation Year And Established Year? by UjSizzle(f): 4:53pm On Mar 23, 2016
I'm surprised you want this info for anniversary purposes rather than tax purposes undecided
Re: Difference Between Incorporation Year And Established Year? by jaz(m): 4:53pm On Mar 23, 2016
how have you been accounting for the profits and taxes for 2014 to 2015 ?
forceofnature:
My company was established in 2014 but was incorporated with the CAC in 2015.. 2014 was the actual year i started operations but it became legal and taxable a year later.

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