Group companies – NBC Institute

CR – Nov 2020 – L3 – Q4c – Related Party Disclosures (IAS 24)

Identify and discuss three key areas of disclosures required by group companies in their financial statements under IAS 24.

Question

c. The objective of IAS 24 – Related party disclosure, is to ensure that an entity‘s financial statements contain sufficient disclosures to draw attention to the possibility that the entity‘s financial position or profit or loss may have been affected by the existence of related parties.

Required: Identify and discuss THREE key areas of disclosures required by group companies in their financial statements. (6 Marks)

Answer

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Tags: Financial Statements, Group companies, IAS 24, Related Party Disclosures
Level: Level 3

Topic: Related Party Disclosures (IAS 24)

AT – July 2023 – L3 – Q5a – Tax planning

Computing the tax payable for group companies and identifying applicable tax incentives.

Question

ABG Ltd is a Free Zone Enterprise established in the year 2011. The company is part of Akafina Group of Companies with subsidiaries located in Accra, Kumasi, Ayanfuri, Tema, and Bodie. The following information is relevant to the operations of Akafina Group of Companies:

Taxable Profit for the Year Ended 31 December 2022	Location	Activity	GH¢ million
ABG Ltd	Accra	Manufacturing	28
Adooso Ltd	Tema	Manufacturing	13
Brefa Ltd	Kumasi	Manufacturing	14
Crame Ltd	Bodie	Manufacturing	22
Didie Ltd	Ayanfuri	Manufacturing	33
Frankaa Ltd	Accra	Manufacturing	14
Greda Ltd (established since 2010)		Agriculture	20

Required:
Compute the tax payable by each company and explain the type of tax incentives they may enjoy.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Tax, Free Zone Enterprise, Group companies, Tax Incentives
Level: Level 3

Topic: Tax planning
Series: JULY 2023

CR – Nov 2020 – L3 – Q4c – Related Party Disclosures (IAS 24)

Identify and discuss three key areas of disclosures required by group companies in their financial statements under IAS 24.

Question

Required: Identify and discuss THREE key areas of disclosures required by group companies in their financial statements. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Financial Statements, Group companies, IAS 24, Related Party Disclosures
Level: Level 3

Topic: Related Party Disclosures (IAS 24)

AT – July 2023 – L3 – Q5a – Tax planning

Computing the tax payable for group companies and identifying applicable tax incentives.

Question

Taxable Profit for the Year Ended 31 December 2022	Location	Activity	GH¢ million
ABG Ltd	Accra	Manufacturing	28
Adooso Ltd	Tema	Manufacturing	13
Brefa Ltd	Kumasi	Manufacturing	14
Crame Ltd	Bodie	Manufacturing	22
Didie Ltd	Ayanfuri	Manufacturing	33
Frankaa Ltd	Accra	Manufacturing	14
Greda Ltd (established since 2010)		Agriculture	20

Required:
Compute the tax payable by each company and explain the type of tax incentives they may enjoy.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Tax, Free Zone Enterprise, Group companies, Tax Incentives
Level: Level 3

Topic: Tax planning
Series: JULY 2023

Question Tag: Group companies

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CR – Nov 2020 – L3 – Q4c – Related Party Disclosures (IAS 24)

Identify and discuss three key areas of disclosures required by group companies in their financial statements under IAS 24.

AT – July 2023 – L3 – Q5a – Tax planning

Computing the tax payable for group companies and identifying applicable tax incentives.

CR – Nov 2020 – L3 – Q4c – Related Party Disclosures (IAS 24)

Identify and discuss three key areas of disclosures required by group companies in their financial statements under IAS 24.

AT – July 2023 – L3 – Q5a – Tax planning

Computing the tax payable for group companies and identifying applicable tax incentives.

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CR – Nov 2020 – L3 – Q4c – Related Party Disclosures (IAS 24)

Identify and discuss three key areas of disclosures required by group companies in their financial statements under IAS 24.

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AT – July 2023 – L3 – Q5a – Tax planning

Computing the tax payable for group companies and identifying applicable tax incentives.

You're reporting an error for "AT – July 2023 – L3 – Q5a – Tax planning"

CR – Nov 2020 – L3 – Q4c – Related Party Disclosures (IAS 24)

Identify and discuss three key areas of disclosures required by group companies in their financial statements under IAS 24.

You're reporting an error for "CR – Nov 2020 – L3 – Q4c – Related Party Disclosures (IAS 24)"

AT – July 2023 – L3 – Q5a – Tax planning

Computing the tax payable for group companies and identifying applicable tax incentives.

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