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

Exercising international rights and duties, Q. Exercising international rig...

Q. Exercising international rights and duties? Laws are the finest creation of human mind. They are intended not only to regulate our conduct and therefore our lives, but they

Code of ethics and audit standards, You are an audit manager in Ecco & Co, ...

You are an audit manager in Ecco & Co, a firm of Chartered Accountants. At the monthly audit managers' meeting, the following client situation was reviewed and discussed. Ecco &

Name based definition of phoenix activity, Q. Name based definition of phoe...

Q. Name based definition of phoenix activity? The approach taken in New Zealand has been to define phoenix activity in terms of the re-use of the name, or a name similar, to th

Counselling psychology , Hypothetical case example: Allison is an 18 ye...

Hypothetical case example: Allison is an 18 year old female student is the first year of an undergraduate university degree. She shares a double room in the university dorm wit

Show the cross agency actions, Q. Show the Cross agency actions ? As al...

Q. Show the Cross agency actions ? As already described, the ASIC, ATO and FWO all have responsibilities in investigating and monitoring elements of phoenix activity. This mean

Directors powers, Directors Powers: Equity regards directors as holdin...

Directors Powers: Equity regards directors as holding their powers on trust for the company. They can only exercise those powers for the benefit of the company, otherwise the

What is the european law, What is the European law? European law: ...

What is the European law? European law: Designed to make a single market for European member states to trade freely all along with each but has as moved onto a closer tie

Article 2 - state responsibility, Article 2 - State Responsibility Art...

Article 2 - State Responsibility Article 2 . This article lists down the elements of what constitute International wrongful act of a state. Means both wrongful acts and omissi

Explain the case clipperton island, Explain the Case Clipperton Island ...

Explain the Case Clipperton Island In Clipperton Island Case , an award was made in the arbitration which resolved a dispute between France and Mexico, in 1887, on the subjec

Discuss the principles of the substantive law, Munsami was driving his car ...

Munsami was driving his car registration number CB 713 from Nausori to wards Suva. He was travelling at 80kmph on 50kmph zone. At koronivia a taxi driven by Ram Raji of Koronivia,

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