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Page 171

CHAPTER 15
ACCOUNTS

The group accounts may be wholly or partly incorporated in the holding company's own balance sheet and profit and loss account. They must give a true and fair view of the state of affairs and profit and loss of the holding company and the subsidiaries dealt with in the accounts as a whole, so far as concerns members of the company. To enable this to be done properly, the directors of the holding company, except where there are good reasons to the contrary, are to secure that the financial year of each subsidiary coincides with that of the holding company (s. 153). The group accounts, if prepared as consolidated accounts, are to comply with the requirements of the Eighth Schedule, and if not so prepared must give the same or equivalent information. The Board of Trade, on the application of the directors, may modify the requirements to adopt them to the company's circumstances (s. 152).
The Eighht Schedule has the following additional requirements for holding and subsidiary companies:
In a holding company, the balance sheet must set out, separately from the company's other assets, the company's shares in or amounts owing from its subsidiaries, distinguishing shares from indebtedness, and the indebtedness of the holding company to its subsidiaries must be set out separately from its other liabilities. The balance sheet must show, by a note or annexed statement, the number, description and amount of the shares in and debentures of the holding company held by its subsidiaries or their nominees. If group accounts are not submitted, there must be a statement annexed to the balance sheet showing (a) the reason why, (b) the net aggregate amount, so far as it is not dealt with in the holding company's accounts, of the subsidiaries' profits after deducting losses (or vice versa) for the financial year and also for their previous financial years since they became subsidiaries of the company, (c) the net aggregate amount of the same profits or losses for the same periods so far as they are dealt with in the company's accounts-so far as the profits or losses of the subsidiaries in (b) and (c) above can properly be treated in the holding company's accounts as revenue profits or losses, (d) any qualifications in the report of the auditors of the subsidiaries on their accounts for those years. Where group accounts are not submitted and the financial years of any subsidiaries do not end with that of the holding company, there must be a statement annexed to the balance sheet giving the reasons why

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where is HTML where is HEAD where is TITLE The group accounts may be wholly or partly incorporated in what is holding company's own balance sheet and profit and loss account. They must give a true and fair view of what is state of affairs and profit and loss of what is holding company and what is subsidiaries dealt with in what is accounts as a whole, so far as concerns members of what is company. To enable this to be done properly, what is directors of what is holding company, except where there are good reasons to what is contrary, are to secure that what is financial year of each subsidiary coincides with that of what is holding company (s. 153). what is group accounts, if prepared as consolidated accounts, are to comply with what is requirements of what is Eighth Schedule, and if not so prepared must give what is same or equivalent information. what is Board of Trade, on what is application of what is directors, may modify what is requirements to adopt them to what is company's circumstances (s. 152). what is Eighht Schedule has what is following additional requirements for holding and subsidiary companies: In a holding company, what is balance sheet must set out, separately from what is company's other assets, what is company's shares in or amounts owing from its subsidiaries, distinguishing shares from indebtedness, and what is indebtedness of what is holding company to its subsidiaries must be set out separately from its other liabilities. what is balance sheet must show, by a note or annexed statement, what is number, description and amount of what is shares in and debentures of what is holding company held by its subsidiaries or their nominees. If group accounts are not submitted, there must be a statement annexed to what is balance sheet showing (a) what is reason why, (b) what is net aggregate amount, so far as it is not dealt with in what is holding company's accounts, of what is subsidiaries' profits after deducting losses (or vice versa) for what is financial year and also for their previous financial years since they became subsidiaries of what is company, (c) what is net aggregate amount of what is same profits or losses for what is same periods so far as they are dealt with in what is company's accounts-so far as what is profits or losses of what is subsidiaries in (b) and (c) above can properly be treated in what is holding company's accounts as revenue profits or losses, (d) any qualifications in what is report of what is auditors of what is subsidiaries on their accounts for those years. Where group accounts are not submitted and what is financial years of any subsidiaries do not end with that of what is holding company, there must be a statement annexed to what is balance sheet giving what is reasons why where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 171 where is strong CHAPTER 15 ACCOUNTS where is p align="justify" The group accounts may be wholly or partly incorporated in what is holding company's own balance sheet and profit and loss account. They must give a true and fair view of what is state of affairs and profit and loss of what is holding company and what is subsidiaries dealt with in what is accounts as a whole, so far as concerns members of what is company. To enable this to be done properly, what is directors of what is holding company, except where there are good reasons to what is contrary, are to secure that what is financial year of each subsidiary coincides with that of what is holding company (s. 153). what is group accounts, if prepared as consolidated accounts, are to comply with what is requirements of what is Eighth Schedule, and if not so prepared must give what is same or equivalent information. what is Board of Trade, on what is application of what is directors, may modify what is requirements to adopt them to what is company's circumstances (s. 152). what is Eighht Schedule has what is following additional requirements for holding and subsidiary companies: In a holding company, what is balance sheet must set out, separately from what is company's other assets, what is company's shares in or amounts owing from its subsidiaries, distinguishing shares from indebtedness, and what is indebtedness of what is holding company to its subsidiaries must be set out separately from its other liabilities. what is balance sheet must show, by a note or annexed statement, what is number, description and amount of what is shares in and debentures of what is holding company held by its subsidiaries or their nominees. If group accounts are not submitted, there must be a statement annexed to what is balance sheet showing (a) what is reason why, (b) what is net aggregate amount, so far as it is not dealt with in what is holding company's accounts, of what is subsidiaries' profits after deducting losses (or vice versa) for what is financial year and also for their previous financial years since they became subsidiaries of what is company, (c) what is net aggregate amount of what is same profits or losses for what is same periods so far as they are dealt with in what is company's accounts-so far as the profits or losses of what is subsidiaries in (b) and (c) above can properly be treated in what is holding company's accounts as revenue profits or losses, (d) any qualifications in what is report of the auditors of what is subsidiaries on their accounts for those years. Where group accounts are not submitted and what is financial years of any subsidiaries do not end with that of what is holding company, there must be a statement annexed to what is balance sheet giving the reasons why where is Server.Execute("_SiteMap.asp") %

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