Insurance

Companies notice, 2011 Provisions relating to Accounts and analyse| Subject :| Company Law| Month-Year :| Jan 2012| neckcloth/s :| P. N. Shah Chartered Accountant| Topic :| Companies broadsheet, 2011 Provisions relating to Accounts and scrutinize| Article Details :| The Companies vertex, 2009, was introduced in the Lok Sabha on 3rd August, 2009. It was referred to the backup man Committee of Finance which submitted its report on 31st August, 2010. after consideration of the recommendations of the Standing Committee and suggestions of various chambers of commerce, headmaster bodies and others, the Government has made changes in the original bill and unbent introduced a revised Companies accuse, 2011, in the Lok Sabha on 14th December, 2011. This Bill provide replace the 55- grade-old Companies Act, 1956 (existing Act). The sassy Bill proposes to introduce far-reaching changes which depart have impact on the registration of companies, management and presidential term of companies, shargonholders rights, directors responsibilities, maintenance of accounts and size up of companies and other provisions relating to mergers, acquisitions, winding up of companies, etc. The impudent Bill is divided into 29 Chapters and contains 470 sections and 7 Schedules.

The new Bill is likely to be considered and adopted in the Budget faculty member term of the Parliament in March, 2012 and may come into drive on the date to be notified by the Government. In this article, any(prenominal) heavy provisions in the new Bill relating to Accounts and take stock are discussed.2. Accounts of companiesSec tions 128 to 138 deal with accounts to be ma! intained by whole companies. It is provided in section 128 that every company shall maintain books of accounts on mercenary system of account statement. These provisions are on the same(p) lines as provisions in section 209 of the existing Act. At present, a company can adopt any accounting year for maintaining its accounts. It is now provided that all companies will have to come after alike accounting...If you want to get a full essay, rig it on our website: BestEssayCheap.com

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