Professional Documents
Culture Documents
Introduction
• As per Sec 2(20) of the Co Act, 2013 ‘company’ means a company incorporated
under this act or any previous co law. The major co laws before enactment of Co
Act,2013 were:
• The Companies Act,1956
• The companies Act, 1913
• The companies Act, 1882
• The companies Act, 1866
• The co act prescribes few provisions under which Financial Statements are to be
prepared and presented. The purpose is to lay before the shareholders adequate
information for enabling them to judge the performance of the company and the
role of the directors during a specified period called “accounting period”.
Annual Accounts
• As per the provisions of sec 129(2) of the CA 2013, at every AGM, the BOD shall
lay before such meeting, financial statements of the year. AGM should take place
within 6 mths from the date of closing of the FY.