What books of account is a company required the Companies Act to keep and what provisions regulate group accounts?

The provision of the Companies Act require all companies to keep certain books of accounts in the English language. These are books with respect to:
 All sums of money received and expended the company and the matters in respect of which the receipt and expenditure takes place.
All sales and purchases of goods the company
The assets and liabilities of the company.

 These books must give a true and fair view of the state of the company‟s affairs and
explain its transactions.

If at the end of the financial year a company has subsidiaries there must be laid before
the company in general meeting group accounts of the company and its subsidiaries.
The group accounts shall be consolidated accounts comprising:

 A consolidated balance sheet dealing with the state of affairs of the company and all subsidiaries dealt with.

 A consolidated profit and loss account dealing with the profit or loss of the company and those subsidiaries.

 The group accounts may be wholly or partially incorporated in the company‟s own balance sheet and profit and loss account.

The group accounts must give a true and fair view of the state of affairs and profit or loss of the company and the subsidiaries dealt with as a whole.

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