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the petitionpetition by debtorif the debtor presents his own petition a receiving order is made at once without a court hearing and an adjudication
acts of bankruptcythe following are the acts of bankruptcy on which a petition may be foundeda assignment of property to trustee whereby one
bankrupt persona bankrupt is a person against whom an adjudication order has been made by the court primarily on the grounds of his insolvency any
definition of bankruptcybankruptcy is another key area of accounting the issues addressed here deal with the properties of an individual a sole
illustration of consolidated cashflow statementsthe voice of the nation limited is a nairobi based media company its consolidated income statement
preparation of cashflow statementsias 7 recommends that the cashflow statement can be prepared using two methods-i direct methodwhereby cash from
cashflows from financing activitiesfinancing activities are those activities that will lead to either an increase or decrease in shareholders funds
cashflows from investing activitiesinvolving activities involve the acquisition and disposal of non-current assets such as property plant and
cashflows from operating activities operating activities are the principle revenue generating activities of the business and examples of such
consolidated cashflow statements ias 7the basic cash flow statement has been covered under financial accounting ii the following introduction will
inter-company transactions and balancesas the associate company is not consolidated care should be taken when there are trading transactions and
normal 0 false false false en-us x-none x-none microsoftinternetexplorer4
associate companies ias 28an associate company is a company in which the investing company owns more than 20 but less than 50 of the voting
subsidiary company exclusion features1 the standard does not require consolidation of a subsidiary acquired when there is evidence that the control
circumstances under which a subsidiary company can be excluded from consolidationconsolidated financial statements shall include all subsidiaries of
acquisition of a subsidiary company during the yearwhen the holding company acquires a subsidiary company portray during the financial period and
illustrations of retained profits brought forwardh ltd acquired 75 of the ordinary shares of s ltd since s ltd was incorporated the summarized income
retained profits brought forwardif we recall from the consolidated balance sheet the group-retained profits should be made up of the holding
dividendsthe dividends that appear in the consolidated statement of change in equity are for the holding company only this is because the dividends
ideal minority interestthe minority interest ideally is entitled to the profit after tax in minority interest however due to consolidation the
consolidated income statement and consolidated statement of changes in equity the consolidated income statement follows similar
illustration holding company with direct share holdingrain ltd storm ltd and thunder ltd are in the business of manufacturing tents their balance
important points for holding company with subsidiarythe following points are important1 the first approach is to determine the effective shareholding
holding company with more than one subsidiary companyunder this type of structure the holding company controls more than one company for example h
group structuresa group structure is the relationship between the holding company and its subsidiaries there are normally four main types of