(221)-BALANCE SHEET DISCLOSURES IN COMPANY ACCOUNTS

Balance Sheet Disclosures in Company Accounts Fixed assetsUnless indicate otherwise, the points below relate also to fixed asset investments and intangibles.1. Cost of valuation of each fixed asset category2. Cumulative depreciation for each fixed asset category3. For fixed asset included on a valuation basis4. Land and buildings analysis of NBV between freehold, long leasehold and short leasehold5....

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(220)-PROFIT AND LOSS ITEMS REQUIRING DISCLOSURES IN COMPANY ACCOUNTS

Profit and Loss Items Requiring Disclosures in Company Accounts TurnoverAnalysis of turnover over, Substantial different business activities; substantial different geographical markets, Analysis of profit before tax between substantially different business activities DepreciationThe total depreciation provided. Additional provisions for depreciation and where assets revalued during current year, disclosure...

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(219)-PRINCIPAL DISCLOSURES FOR SINGLE COMPANY ACCOUNTS

Principal Disclosures for Single Company Accounts The principle disclosures are classified as follows’ Purpose of the checklist Accounting policies Profit and loss items requiring disclosure Balance sheet disclosures Cash flow statements Directors’ report – Summary of matters to be disclosure Purpose of the checklist The aim of the following checklist is to provide a guide to disclosure requirements...

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(218)-ENTRIES OF PURCHASING OF A BUSINESS BY A COMPANY

Entries of Purchasing of a Business by a Company The entries in the company’s books necessary to record the purchase of the business are as follows: Assets acquired at acquisition valuesDebit – AssetsCredit – Vendor’s account Liabilities acquired at acquisition valuesDebit – Vendor’s accountCredit – Liabilities Purchase considerationDebit – Vendors accountCredit – Share capital, share premium, debentures,...

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(217)-PURCHASE OF A BUSINESS BY A LIMITED COMPANY

Purchase of a Business by a Limited Company Several advantages may stem from the “conversion” of a private business into a limited company e g perpetual succession, whereby a member of a company can transfer his shares, or bequeath them by will at death, without describing the constitution of the company or its financial resources. The “conversion” may take the from of the transfer to a private company...

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