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

Explain the international law on kashmir dispute, Normal 0 fals...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Lifting the veil under case law, Lifting the veil under Case Law:     ...

Lifting the veil under Case Law:                  Numerous English cases have been variously classified by English writers as instances of "lifting the veil of  incorporation"

Plan the disciplinary interview, Question: You are the manager of a res...

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

Formation of contract - law of contract, Formation of Contract - Law of Con...

Formation of Contract - Law of Contract However a legally binding agreement prepared between two or persons or more parties.  Whereas it has also been explained as a promise o

Requisites of acceptance - rules relating to acceptance, Requisites of Acce...

Requisites of Acceptance - Rules Relating To Acceptance Section number S.17 (2) provides like an acceptance is invalid unless since it complies with the following conditions:

Jurisdiction - court of appeal, Jurisdiction - Court of Appeal Howev...

Jurisdiction - Court of Appeal However S.64 (1) of the Constitution gives that the Court of Appeal 'shall have such jurisdiction and the powers in relative to appeals from t

Powers and duties - Company secretary, Powers and Duties:  The powers ...

Powers and Duties:  The powers and duties of the secretary depend on the size and nature of the company and the personal contractual arrangements that it makes with him. Howev

Relationship of partners inter se, Relationship of Partners Inter Se W...

Relationship of Partners Inter Se Whether various terms are in utilize to denote the different specification of partners.  Then the most central of these terms are like: (

Compulsory change - change of name , Compulsory Change: Section 20(2) ...

Compulsory Change: Section 20(2) of the Act provides that within six months of registration with a particular name the registrar may direct a change in name if in his opinion

Articles of partnership - authority of partners, Articles of Partnership - ...

Articles of Partnership - Authority of Partners The relations of partners to one other are governed through the Articles of Partnership.  Like third parties are not allowed fo

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