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

Presumed agency or from cohabitation, Presumed Agency or from Cohabitation ...

Presumed Agency or from Cohabitation Whether a woman who is living with a man is deemed that  be his agent for purposes of acquire necessaries to the family; marriage is not n

Limited, Name to end with the word "Limited":                         ...

Name to end with the word "Limited":                             S.5(1)(a) provides that the word "limited" must be the last word of the name of a company which is to be limit

Tort laws and the environment, Role of the Courts The role of the court...

Role of the Courts The role of the court system in Canada varies. Due to the numerous jurisdictions and different government levels involved, the courts are often asked to inte

Agency, John owns a 1951 Mercedes Sl that he wishes to sell. He instructs R...

John owns a 1951 Mercedes Sl that he wishes to sell. He instructs Ross to sell the car, and in return, will be paid £5,000 commission. Ross manages to find a buyer, Paul, Paul and

Rules relating to an offer - law of contract, Rules Relating to an Offer - ...

Rules Relating to an Offer - Law of Contract However the case law relating to an offer has established the following rules: 1. Such offer may be oral plus written or may be

Statutory task force on phoenix activity, Q. Statutory task force on phoeni...

Q. Statutory task force on phoenix activity? A long term option could be the establishment of a statutory task force on phoenix activity. This could be supported by all the rel

Purpose of a trial period in a contract of employment, QUESTION 1 S.38(...

QUESTION 1 S.38(2) and S.38(3) of the Employment Relations Act require that an employee should be given the "opportunity to answer the charge" before the employer decides to te

Distinguish between industrial and employee relations, Question 1: (i) ...

Question 1: (i) Distinguish between industrial relations and employee relations. (ii) State the environmental factors that affect employee relations. (iii) Give five r

Correspond with description - terms used in contract, Correspond With Descr...

Correspond With Description - Terms Used In Contract With S.15 provides that, where goods are sold through description whether is an implied matter that the goods correspond w

Method for enactment of laws, Method for Enactment of Laws: Whether th...

Method for Enactment of Laws: Whether the procedure to be followed in Parliament in order to enact Law is governed through Constitution and Orders 94-125 of National Assembly

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