Group accounts, Business Law and Ethics

Group Accounts:

S.150(1) provides that if, at the end of its financial year, a company has subsidiaries, then it must include in its annual accounts "group accounts" dealing with the affairs of the subsidiaries as well.

By s.150(2)(b) group accounts need not deal with a subsidiary of the company if the company's directors are of opinion that -

i.  it is impracticable, or would be of no real value to the members of the company, there in view of the irrelevant amounts concerned, or would engage expense or delay out of proportion to the value to members of the company; or

ii.  the result would be misleading; or

iii. the result would be injurious to the business of the company or whichever of its subsidiaries; or

iv. the business of the holding company and that of the auxiliary are so different that they cannot reasonably be treated as a single undertaking.

The approval of the registrar shall be utilized for not dealing in group accounts with a subsidiary on grounds (iii) or (iv).

Posted Date: 1/15/2013 2:21:12 AM | Location : United States







Related Discussions:- Group accounts, Assignment Help, Ask Question on Group accounts, Get Answer, Expert's Help, Group accounts Discussions

Write discussion on Group accounts
Your posts are moderated
Related Questions
Payment of Underwriting Commission: A "commission" is defined by Osborn's Concise Law Dictionary as, inter alia "an agent's remuneration". Therefore purposes of company law, i

Illustrate the Maintenance Phase of policy process a) Develop a plan for active maintenance and review Who will ensure that policies are actively maintained and reviewed? H

Moto Knappy is a manufacturer of automobile motors. The manufacturing process takes a couple of months. The company produces several standard and custom models. To simplify this

QUESTION 1 The global business sector has been expanding rapidly in Mauritius. Discuss the role of the FSC in this sector QUESTION 2 Tony is the director of Xservices L

Misfeasance by the auditors: However it is not sufficient to describe that the frauds must have been detected whether the entries in the books had been put mutually in a way w

What is Diplomatic immunity Diplomatic immunity relates to the protection of the representatives of another state to ensure that they perform their international political func

Requisites of Acceptance - Rules Relating To Acceptance Section number S.17 (2) provides like an acceptance is invalid unless since it complies with the following conditions:

State Article1of Universal Declaration of Human Rights Article 1: 'All human beings are born free and equal in respect and rights. They are endowed with reason and conscience

This activity brings together the ethical issues, concepts, and statutes presented in your readings, lectures, and discussed in your chat sessions. You will select two (2) scenario

Implied powers rule: The courts would regard such things as impliedly within the company's powers unless they are "expressly prohibited" by the memorandum. The range of transa