In this essay I will discuss some aspects of accounting theories and their developments. I will also argue entity and proprietary theory and how they have contributed to the development of existing accounting practices. I will also highlight the strengths and weakness of the two theories and the impact it has on current accounting practices. Accounting theories can be said to be a process of reasoning problems by means of distinguishing the basic relationship, which in turn simplifies the issues
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return for bonuses and stock options. The real research the ten companies did was disregarded completely so that the company would have a better bottom line. In some cases, the analysts recommended stocks that they knew were no good. Citigroup was the parent of Salomon Smith Barney at the time of the ethical misconduct. “At Salomon Smith Barney, analyst Grubman reiterated a "buy" recommendation in February 2001 on Focal, an investment banking client, and a target price of $30 (twice the stock
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THE COMPANIES ACT, 1956 DEFINITION AND NATURE OF A COMPANY Learning Objectives At the end of this chapter, you will be able to • Identify the meaning and nature of a company • Identify the important characteristics of a company Introduction Today, we will begin with the Companies Act that was passed in 1956. In the lecture of today we will discuss the meaning and nature of a company. Do you know what do we mean by company? In simple words, a company can be defined as a group of persons
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s132(1) * Hogg v Cramphorn Ltd [1967] Ch 254 – TB * Multi-Pak Singapore Pte Ltd v Intraco Ltd [1994] 2 SLR 282 * Creanovate Pte Ltd and another v Firstlink Energy Pte Ltd and another appeal [2007] 4 SLR(R) 780 * Bishopsgate Investment Management Ltd v Maxwell (No 2) [1993] BCLC 814 * Discharge of the Duty to Exercise Reasonable Care and Skill s132(1) * Lim Weng Kee v PP [2002] 4 SLR 327 * Dorchester Finance Co Ltd v Stebbing [1989] BCLC
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------------------------------------------------- AYB230 Corporations Law Practice Qs for Midsemester Exam – Answer guide Week 7 Incorporation and its effects 1. Answer: c, because Macaura applied the principle in Salomon v Salomon. 2. Answer: e, all of (a), (b) and (c). 3. Answer: d, the Walker case did not say anything about directors being unable to sit on more than one board in a company group. 4. Answer: b. 5. Answer: e. Breach of a Listing Rule is not a breach of the Corporations Act.
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In re Sir Dinshaw Maneckjee Petit Bari AIR 1927 Bom. 371 Marten, C.J. – For the financial year 1925-26, the assessee Sir Dinshaw Petit has been assessed for super-tax on an aggregate income of Rs. 11,35,302 arising in the previous year. Of this sum he objects to Rs. 3,90,804 made up of two sums of Rs.2,76,800 and Rs. 1,14,004, the former of which arises from Government and other fixed interest bearing funds, and the latter from dividends in companies. Nothing appears to turn on this distinction
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[pic] SEGi COLLEGE DIPLOMA IN ACCOUNTING / BUSINESS ADMINISTRATION / HUMAN RESOURCE MANAGEMENT / MARKETING AUGUST 2012 EXAMINATION BUSINESS AND COMPANY LAW SUBJECT CODE : 4LAW0913 TIME ALLOWED : 3 HOURS INSTRUCTIONS TO CANDIDATES: 1. Answer FIVE (5) out of EIGHT (8) questions. 2. All questions carry equal marks. 3. All answers must be written in the answer booklet provided. (Answer FIVE (5) out of EIGHT (8) questions) Question 1
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CORPORATE LAWS AND GOVERNANCE MODEL QUESTION PAPER SECTION A CORPORATE LAWS Instructions: 1. Answer both Questions 1 and 2 and either Question 3 or 4 in Section A. Only 3 solutions will be marked. 2. When the examination is over, place your solutions to this section of the Corporate Laws and Governance examination in a separate envelope to your solutions to Section B. Q. 1. The Board of XYZ Ltd. is considering a major diversification of the Company’s activities into a new product/market
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CASE STUDY MODULE 11 INDUSTRIAL LAW Summary Of The Case Study Lanka Fashions Leather Products Company has been running a profitable business for the past several years. At the beginning there was no trade union for the company but about six months ago the workers of the company has formed a branch union of a registered trade union sponsored by a political party with radical views. after the formation of the union they requested several opportunities to meet the management
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CLASSIFICATION OF COMPANIES AND SEPARATE LEGAL ENTITY 1) Types / form of business organization Sole Proprietor -operated by individual -unlimited liability -not complex organizational structure -all decision regards to business is done by the individual - Capital for venture is from the individual -all the profits made belong to him exclusively but he also bear all the risk -no separation between the business and his personal assets Advantages: -only minimal legal requirements for
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