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The Pamphlet Collection of Sir Robert Stout: Volume 88
Accounts
Accounts.
| (1.) | Of the paid-up Capital of the Company, and the mode of investment thereof; |
| (2.) | Of the sums of money received and expended by the Company in the course of its business, 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, and any other subsidiary books or forms that may be necessary or proper for the business of the Company. The books of account shall be kept at the principal office of the Company.
80. Once at the least in every half-year the Directors shall lay before the Company in general meeting a statement of the income and expenditure for the past half-year made up to a date not more than one month before such meeting.
81. 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.
82. A balance sheet shall be made out in every half-year, and laid before the general meeting of the Company, and such balance sheet shall contain a summary of the assets and liabilities of the Company.
83. A printed copy of such balance sheet shall, fourteen days previously to such meeting, be delivered at the registered address of every shareholder.