COMPANY LAW QUESTIONNAIRE PART - 1 INTRODUCTION The companies Act lays down detailed provision regarding various matters and casts an obligation upon directors and officers of the company to carry the requirement of law. It is the duty of the directors and management to ensure that various provisions have been complied with. However where non-compliance has a bearing upon the accounts and transaction of the company‚ the auditor may have an obligation to bring it to the notice of the shareholders
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Chapter 11 Current Liabilities and Payroll Questions 1. A current liability is one that is payable within the coming year or within the company’s normal operating cycle if longer than a year. All other liabilities are long-term. A contingent liability is a potential liability that depends on a future event arising out of past events. The future event will determine the amount and existence of the liability. A contingent liability may or may not become an actual obligation. 2. The company reports
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(a) Briefly explain what prompted some countries over the world to strongly advocate harmonization of accounting. The important reasons which necessitate harmonization of accounting practices are well contained in the observation made by Saudagaran. “While the initial efforts at harmonization were mainly championed by political bodies and professional accounting organizations‚ current pressures to harmonize are driven by investor groups who use financial statements‚ multinational companies which
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Financial Accounting Part I Textbook for Class XI © no N C tt E o R be T re pu bl is he Accountancy d ISBN 81-7450-507-5 First Edition February 2006 Phalguna 1927 Reprinted October 2006 Kartika 1928 October 2007 Kartika 1929 January 2009 Magh 1930 January 2010 Magha 1931 January 2011 Magha 1932 PD 90T RPS © National Council of Educational Research and Training‚ 2006 ALL RIGHTS RESERVED No part of this publication may be reproduced‚ stored in a retrieval system or transmitted‚
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ACCESS TO NUTRITION INDEX GLOBAL INDEX 2013 Acknowledgements FUNDERS The Access to Nutrition Index (ATNI) would not have been possible without the generous support of the Global Alliance for Improved Nutrition (GAIN)‚ the Bill & Melinda Gates Foundation and the Wellcome Trust. ATNI was developed by GAIN’s Innovative Finance Program. Led by Chris Walker‚ the ATNI development team consisted of Michael Park and Valerie Pillonel‚ along with external consultants Craig Courtney‚ Rachel Crossley‚ and
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AN ANALYSIS OF THE ACCOUNTING SYSTEM OF COOKRIDGE CARPETS LTD (CCL) WITH RECOMMENDATION FOR IMPROVING ITS INTERNAL CONTROL Submitted by: AAT student membership number: Date: July 2012 This report is submitted for assessment of the AAT Learning and Assessment Area ‘Internal control and Accounting System.’ LIST OF CONTENTS Title Page Number 1. Terms of
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In The Answer Is No‚ the narrative describes the story of a school teacher who went through a difficult time dealing with her personal and psychological conflict. In her painful memory of childhood‚ she was violated by her tutor (schoolmaster) who came over her house to give her private lessons. It happened when her parents were not home and she was not aware of his shameful action. Furthermore‚ he was trying to cover his serious sin by convincing her that everything was normal and that he loved
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Assignment: Cost Accounting Applied By Professor Bryan Womack Course Title ACC 350012VA016-1122-001 Cost Accounting February 26‚ 2012 Companies that are successful financially know what their costs are and how those costs are being spent. The company I have chosen wants to change from a general accounting system where costs are put in general categories and they currently do not have any allocation
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CHAPTER 3 THE REPORTING ENTITY AND CONSOLIDATED FINANCIAL STATEMENTS ANSWERS TO QUESTIONS Q3-1 The basic idea underlying the preparation of consolidated financial statements is the notion that the consolidated financial statements present the financial position and the results of operations of a parent and its subsidiaries as if the related companies actually were a single company. Q3-2 Without consolidated statements it is often very difficult for an investor to gain an understanding
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Accounting Information Systems Simulation Summary Internal Control Systems are processes put in place to safeguard the company. In the simulation‚ the task was given to help a new company set up an internal control system‚ implement control procedures for specific internal control issues‚ and manage the internal control system as the company continues to grow. Ramos International is an up and coming luxury hotel in Chesapeake‚ Virginia. The role given in this simulation is that of the Chief
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