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The Pamphlet Collection of Sir Robert Stout: Volume 7
Accounts
Accounts
| (1.) | Of the stock-in-trade of the Company. |
| (2.) | Of the sums of money received and expended by the Company, and the matter in respect of which such receipt and expenditure takes place; and |
| (3.) | Of the credits and liabilities of the Company. Such accounts shall be kept upon the principle of double entry in a cash book, journal, and ledger. The books of account shall be kept at the principal office of the Company, and, subject to any reasonable restrictions as to the time and manner of inspecting the same that may be imposed by the Company in general meeting, shall be open to the inspection of the Shareholders during the hours of business. |
75. Once at the least in every year the Directors shall lay before the Company in general meeting, a statement of the income and expenditure for the past year, made up to a date not more than three months before such meeting.
76. The statement so made shall show, arranged under the most convenient heads, the amount of gross income, distinguishing the several sources from which it has been derived, and the amount of gross expenditure, distinguishing the expense of the establishment, salaries, and other like matters. Every item of expenditure fairly chargeable against the year's income shall be brought into account, so that a just balance of profit and loss may be laid before the meeting; and in cases where any item of expenditure which may in fairness be distributed over several years has been incurred in any one year, the whole amount of such item shall be stated, with the addition of the reasons why only a portion of such expenditure is charged against the income of the year.
77. A balance sheet shall be made out in every year, and laid before the general meeting of the Company, and such balance sheet shall contain a summary of the property and liabilities of the Company, arranged under the heads appearing in the form annexed to this table, or as near thereto as circumstances admit.
78. A printed copy of such balance sheet shall, seven days previously to such meeting, be delivered at the registered address of every Shareholder.