Accounting Records Required Essay

The general rule of the Companies mo of the Section 167(1) farming that all confederacy and the directors and managers thereof sh either cause to be unploughed such explanation and opposite demeans as will comfortablely explain the transactions and financial side of the comp either and enable true and clean-living profit and loss accounts and proportionality sheets and any documents take to be attached thereto to be ready from time to time, and shall cause those records to be kept in such sort as to enable them to be conveniently and properly audited.Thus, Beta Sdn Bhd, a semiprivate company, shall keep the accounting and different records of the company. The Beta Sdn Bhd, the company is required to keep records of the companys financial transactions. The records must contain sufficient detail to enable the financial position of the company to be rigid at any time and so that the directors can ensure that any profit and loss account or balance sheet complies with t he requirements of the Companies Act 1965.The records should contain all details of any income and expenditure and a record of the companys assets and liabilities. By virtue of section 167(3), the Beta Sdn Bhd should kept the records at the registered office that referred to in subsection (1) or at such other places in Malaysia as the directors think fit and shall at all times be open to inspection by the directors.See to a greater extent Homelessness as a social problem EssayThe directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at all times the ? nancial position of the company and enable them to ensure that the ? nancial statements obey with the Companies Act 1965. They are also responsible for safeguarding the assets of the Company and consequently for winning all possible steps for the prevention and detection of fraud and other irregularities.By virtue of section 169 (14) both balance sheet of the private company, Beta S dn Bhd shall give a true and fair view of the state of affairs of the company as at the end of the period to which it relates and every profit and loss account shall give a true and fair view of the profit or loss of the company for the period of accounting as shown in the accounting and other records of the company, and without affecting the generality of the foregoing, every such balance sheet and profit and loss account shall approve with the requirements of the Ninth Schedule so far as applicable thereto.