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

Regulations regarding experiments on animals, REGULATIONS REGARDING EXPERIM...

REGULATIONS REGARDING EXPERIMENTS ON ANIMALS : You may be aware that experiments on animals are performed in the laboratories of educational and research institutions. You should k

Information in agenda setting, Information in Agenda Setting What infor...

Information in Agenda Setting What information, how and when reaches to voters to proposal, is also a detrimental factor in policy process. The degree to which information is c

Contract in relation to business, Conrad put an advertisement in a newspape...

Conrad put an advertisement in a newspaper on 19 November offering to sell his motor boat for $35,000. On 21 November, Joe rang Conrad and said he was prepared to pay $30,000 for t

Trade unions - unincorporated associations, Trade Unions:             ...

Trade Unions:                   Trade Unions are registered under s.11 of the Trade Unions Act 1952 with the primary object of regulating the  relations between employees and

Judicature act - categorization of law, The Judicature Act Cap 8, Laws of E...

The Judicature Act Cap 8, Laws of England: Therefore the sources of England law are specified in the Judicature Act 1967, S.3(1) of that states in which the jurisdiction of th

State the theories of self-enforcing, Theories of self-enforcing or implici...

Theories of self-enforcing or implicit contracts These theories relate to the problem of limits to which legal compulsion can be employed (due to information or transaction cos

What are the main stages of money laundering, QUESTION1 Compare and con...

QUESTION1 Compare and contrast the Securities Act with the Insurance Act QUESTION 2 (a) What are the main stages of money laundering? (b) Explain the legal framework

Acceptance - negotiable instruments, Acceptance - Negotiable Instruments ...

Acceptance - Negotiable Instruments Meaning The word "acceptance" such used in relation to bills of exchange like has a special meaning also. Acceptance of a bill of ex

List eight main objectives of tax treaties, QUESTION (a) List eight mai...

QUESTION (a) List eight main objectives of tax treaties (b) Explain carefully how cases of dual residence for both individuals and companies would be resolved by the applica

Describe the principal-agent framework, Describe the principal-agent framew...

Describe the principal-agent framework In standard principal-agent framework an agent may be directed to maximize an objective function which may or may not be different from

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