Auditors Their Duties And Responsibilities Under the Companies Acts Partners
Auditors Their Duties And Responsibilities Under the Companies Acts Partners
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In our eReader you can find the full English version of the book. Read Auditors Their Duties And Responsibilities Under the Companies Acts Partners Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Auditors Their Duties And Responsibilities Under the Companies Acts Partners
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There was a proviso that the certificate of the company's auditor should be conclusive as to what constituted net profits at the end of any such business year — Held, on construction, that " net profits " of the business for the year were the excess of the receipts for the year over the current expenses and outgoings of the same year — i. E. The fund which for that year was capable of being lawfully apphed by the company to the payment of a dividend.
Held, as matter of law, that that fund could... only be arrived at after deducting excess profits duty, which was a debt of the company to the Crown.
Held, therefore, that the commission ought to be calculated after deduction of excess profits duty.
Patent Castings Syndicate, Limited v. Etherington [1919] 2 Ch. 254.
By an agreement made in 1912 the defendant was appointed works manager of the business of the plaintiff company at a salary, and in addition he was to be paid a commission equal to ;^50 for every 5 per cent " profit earned by the company " (or fraction of 5 per cent pro rata) after 10 per cent had been earned by the company — Held, that the words " profit earned by the company " meant profits divisible among the shareholders, in other words " net profits, " and upon the authority of the decision of the Court of Appeal in Patent Castings Syndicate v.
What to read after Auditors Their Duties And Responsibilities Under the Companies Acts Partners?
You can find similar books in the "Read Also" column, or choose other free books by Francis W Francis William Pixley to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
There was a proviso that the certificate of the company's auditor should be conclusive as to what constituted net profits at the end of any such business year — Held, on construction, that " net profits " of the business for the year were the excess of the receipts for the year over the current expenses and outgoings of the same year — i. E. The fund which for that year was capable of being lawfully apphed by the company to the payment of a dividend.
Held, as matter of law, that that fund could... only be arrived at after deducting excess profits duty, which was a debt of the company to the Crown.
Held, therefore, that the commission ought to be calculated after deduction of excess profits duty.
Patent Castings Syndicate, Limited v. Etherington [1919] 2 Ch. 254.
By an agreement made in 1912 the defendant was appointed works manager of the business of the plaintiff company at a salary, and in addition he was to be paid a commission equal to ;^50 for every 5 per cent " profit earned by the company " (or fraction of 5 per cent pro rata) after 10 per cent had been earned by the company — Held, that the words " profit earned by the company " meant profits divisible among the shareholders, in other words " net profits, " and upon the authority of the decision of the Court of Appeal in Patent Castings Syndicate v.
What to read after Auditors Their Duties And Responsibilities Under the Companies Acts Partners?
You can find similar books in the "Read Also" column, or choose other free books by Francis W Francis William Pixley to read onlineMoreLess
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