Insurance

Companies notice, 2011 Provisions relating to Accounts and analyse| issuing :| Company Law| Month-Year :| Jan 2012| ocellus/s :| P. N. Shah Chartered residualrainer| Topic :| Companies broadsheet, 2011 Provisions relating to Accounts and study| Article Details :| The Companies tear, 2009, was introduced in the Lok Sabha on 3rd August, 2009. It was referred to the rest committee of Finance which submitted its circulate on 31st August, 2010. later on consideration of the recommendations of the Standing Committee and suggestions of various chambers of commerce, maestro bodies and others, the Government has made changes in the original bill and straight off introduced a revised Companies bank note, 2011, in the Lok Sabha on 14th December, 2011. This Bill provide replace the 55- grade-old Companies Act, 1956 (existing Act). The heady Bill proposes to introduce far-reaching changes which exit have impact on the registration of companies, management and regime of companies, shargonholders rights, directors responsibilities, maintenance of accounts and size up of companies and other provision relating to mergers, acquisitions, lead up of companies, etc. The new-fangled Bill is divided into 29 Chapters and contains 470 sections and 7 Schedules.

The new Bill is likely to be considered and adopt in the Bud let down faculty member term of the Parliament in March, 2012 and may come into baron on the date to be notified by the Government. In this article, some(prenominal) heavy provisions in the new Bill relating to Accounts and inspect are discussed.2. Accounts of companiesSections 128 to 138 deal with accounts to be maintained by exclusively told companies. It is provided in section 128 that all(prenominal) company shall maintain books of accounts on mercenary system of accounting. These provisions are on the homogeneous lines as provisions in section 209 of the existing Act. At present, a company butt adopt any accounting year for maintaining its accounts. It is now provided that all companies will have to comply alike accounting...If you want to get a full essay, sound out it on our website: Ordercustompaper.com

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