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

Form of alternative dispute resolution - element of the tort, Most legal co...

Most legal conflicts are settled outside of court, frequently using some sort of dispute resolution. There are times when a party cannot take a case to court until they have made a

Find out the ethical issues of the organization, Select a manufacturing org...

Select a manufacturing organization and find out the ethical issues of the organization in the following areas: Production: Marketing & sales: Human Resources & employee relatio

Describe remedies available for a case of judicial review, Question 1: ...

Question 1: (a) What is meant by: (i) Ratio Decidendi (ii) Obiter Dicta (iii) Legal Doctrine (b) Distinguish between Criminal Law and Civil Law.

The acts of non-state actor, The acts of non-state actor More important...

The acts of non-state actor More importantly, the concept of non-state actor needs be discussed by the concept of state responsibility, that is to say how and to what extent a

Attorney general, Attorney General However the office of the Attorney ...

Attorney General However the office of the Attorney simply is established through sec (i) of the constitution. In the public service it is an office.  Appointment of

Several rules for fraudulent trading, Several rules for Fraudulent trading:...

Several rules for Fraudulent trading: Various rules have been established to determine what is fraudulent trading: (a) Only persons who take the decision to carry on the co

What are the three main features of security, QUESTION 1 (a) What are t...

QUESTION 1 (a) What are the three main features of security? Define the different types of security that banks normally take to secure credit facilities (b) The Borrower Pro

Indicators of phoenix activity, Indicators of phoenix activity Stakehold...

Indicators of phoenix activity Stakeholders noted that there are a range of 'signals' or 'indicators' that phoenix activity may be about to occur. These generally occur before t

C.i.f. contacts - import and export trade, C.I.F. Contacts - Import and Exp...

C.I.F. Contacts - Import and Export Trade Therefore a c.i.f. like cost, insurance else freight whether contract is a contract for the sale of goods for be performed through the

Chaos Monkeys, Discuss the character of Mr. Martinez and the relationship b...

Discuss the character of Mr. Martinez and the relationship between his personal life and work life. Do effectiveness in Silicon Valley and on Wall Street require that one be like M

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