Profit and loss account, Business Law and Ethics

Profit and Loss Account:

with s.148(1) the directors of every company shall, at some date not soon than eighteen months later than the incorporation of the company and subsequently once at least in every calendar year, thus lay just before the company in common meeting a profit and loss account for the period, then in the case of the first account, because the incorporation of the company there, and, in any other case, hence the preceding account.  The account shall be made up to a date not earlier than the date of the meeting by more than nine months or, further in the case of a company carrying on business or having interests abroad then through more than twelve months.

A company which does not trade for profit is required to lay an income and expenditure account instead of a profit and loss of account.  So hence the period during such that the accounts are to be laid before the general meeting may be extended by the registrar for any special reasons.

Posted Date: 1/15/2013 2:20:01 AM | Location : United States

Related Discussions:- Profit and loss account, Assignment Help, Ask Question on Profit and loss account, Get Answer, Expert's Help, Profit and loss account Discussions

Write discussion on Profit and loss account
Your posts are moderated
Related Questions
Lifting the veil under Case Law:                  Numerous English cases have been variously classified by English writers as instances of "lifting the veil of  incorporation"

Partnerships:                A partnership is defined by s.3(1) of the Partnership Act   as "the relation which subsists between persons carrying on a business in common with

Revival of a Dissolved Company: Liquidation leads on to dissolution of the company.  The court may, however, within the ensuing two years order that dissolution be rescinded a

State Article 29 of international law Article 29 states that a member of a diplomatic mission enjoys immunity from arrest or prosecution.

LEGAL PROTECTION OF MINORITIES: According to decisions of English courts, companies are democratic organisations whose affairs are to be managed by the directors according to

Question: You are the manager of a restaurant and receive a letter from a customer complaining about the quality of service and the rudeness of one member of your staff. You ha

Determine the kinds of advocacy tactics The kinds of advocacy tactics employed by policy entrepreneurs in setting agendas and generating support for their proposals may often

Question 1: Analyze the contribution and role of logistics in the provision of good customer service. Question 2: Discuss the case for and against using in-house or t

Defined specific acts that constitute an act of terrorism:- Convention on Offences on Board Tokyo Aircraft 1963 relates to hijacking. Unlawful Seizure of Aircraft in Hague 1

Right to sell - Terms used in Contract With S.14 (a) provides that there is an implied condition such seller has a right for sell the goods and, like in the case of an agreeme