Group accounts, Business Law and Ethics

Assignment Help:

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).


Related Discussions:- Group accounts

What are the consensus in the political stream, What are the Consensus in t...

What are the Consensus in the political stream Political events move along at their own pace, and according to their own dynamics and rules. Developments in the political sphe

Domestic or family agreements - elements of contract, Domestic or Family Ag...

Domestic or Family Agreements - Elements of Contract However there is a rebuttable presumption such the parties did not intend for create legal relations as: 1. Agreements

Nature of a company, Nature of a Company: There is no precise legal de...

Nature of a Company: There is no precise legal definition of "a company". This is due to historical reasons which are too lengthy to be narrated in this text. Suffice it to sa

Explain the laws and rules of atlantic case, Explain the Laws and rules of ...

Explain the Laws and rules of atlantic case There are several laws and rules which were applicable to this situation: Paris Convention on Aerial Navigation of 1919 H

Partnerships - unincorporated associations, Partnerships - Unincorporated A...

Partnerships - Unincorporated Associations Conversely Partnership is defined through S.3 (1) of the Partnership Act as "the relation that subsists between persons carrying at

Show the criminal conduct definition of phoenix activity, Q. Show the Crimi...

Q. Show the Criminal conduct definition of phoenix activity? Master Builders argued that the definition of phoenix activity should focus on the existing sections of corporation

Legal, As a senior HR officer in Catastrophe Concepts HR department, you ha...

As a senior HR officer in Catastrophe Concepts HR department, you have been asked by George Chapel to prepare a management briefing regarding the situation. Your report should:

What is the theory of contracts, What is the Theory of Contracts The sp...

What is the Theory of Contracts The specialized relationship between principal and agent and between agents themselves in the policy process has been explained with the economi

Determine the deciding factor with respect to legislature, Determine the de...

Determine the deciding factor with respect to legislature Party with most votes has been in control of the legislature, so the deciding factor with respect to legislature is th

Court access and power, American citizens can utilize their Courts only und...

American citizens can utilize their Courts only under certain conditions and circumstances. That is, there are both formal and informal "barriers" to access the legal system.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd