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Company accounts

Unit: Company law

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August 2025

 2 Questions
Question 5b
​​You have been outsourced as a consultant to assist XYZ Trading Ltd. file its annual returns. The CEO of the company has requested you to make a presentation about the legal obligations of the company regarding filing of annual returns to the new members of the internal audit department to ensure knowledge transfer. 

 Explain FIVE points that you could include in your presentation.


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Question 5a
​​Explain the following in relation to company accounts:

(i). TWO responsibilities of directors. 

(ii). FOUR contents of a company’s books of accounts.


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April 2025

 1 Questions
Question 5c
​​Financial statements of a company typically include some key components as required by the International Financial Reporting Standards (IFRS). 

 Required: 
 Describe FOUR of these key components.


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December 2024

 1 Questions
Question 5a
​​In relation to company accounts: 

(i) Identify FOUR exemptions provided for small companies regarding the form and preparation of accounts. 

(ii) Describe FOUR disclosures that are necessary in group accounts.


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August 2024

 1 Questions
Question 7b
​​With reference to companies, discuss FIVE benefits which could accrue to a company from filing annual returns.


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April 2024

 4 Questions
Question 7a
​ ​​​​In relation to company accounts, outline SEVEN consequences of non-compliance with accounting standards and disclosure requirements.


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Question 6c
​​XYZ Ltd., a publicly listed company, is scheduled to hold its annual general meeting (AGM) next month. You have been requested to draft an agenda for the AGM and provide guidance on the legal requirements and procedures that must be followed. 

Required: 
Outline FIVE items that should be included in the agenda for XYZ Ltd.’s AGM, and explain the legal requirements and procedures associated with each item.


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Question 6a
​​Highlight FIVE roles of the board of directors in the oversight of company accounts under company law in your country.


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Question 5b
​​With regard to financial reporting and disclosures, summarise FIVE legal obligations of foreign companies in your country.


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December 2023

 3 Questions
Question 7a
​​Enumerate TWO documents that are required to accompany annual returns of company limited by guarantee.


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Question 7b
​​Discuss TWO consequences that could arise when a company fails to lodge proper annual returns on time.


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Question 4b
​​Explain FIVE key components that must be included in the financial reports of a company in your country.


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August 2023

 3 Questions
Question 3a
​​Explain THREE pieces of information that a Director’s report must contain once a company has issued debentures in any financial year.


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Question 4a
​​State SIX elements of proper accounting records under company law.


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Question 2b
​​Highlight FOUR statutory registers that must be maintained and kept at the registered office of a company.


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April 2023

 1 Questions
Question 4c
​​Directors are required to prepare a director’s report to accompany the financial statement presented to members. 

 Highlight FOUR matters captured in a director’s report.


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December 2022

 1 Questions
Question 4a
​​Describe the general contents of a company’s annual return.


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August 2022

 1 Questions
Question 2a
​​In relation to company accounts: 

(i) Define the term “annual financial statements”. 

(ii) Outline four financial statements prepared by a company annually.


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April 2022

 1 Questions
Question 7b
​​Analyse six circumstances under which the accounts of a subsidiary need not be incorporated into the group accounts.


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Pilot December 2021

 3 Questions
Question 5a
​​Give five documents that form a quoted company’s annual reports


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Question 5b
​​Explain three requirements for a company’s proper accounting records


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Question 5c
​​Highlight two contents of a company’s financial records.


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December 2021

 2 Questions
Question 3a
​​(i) Define the term "holding company". 

(ii) Outline four purposes of group accounts.


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Question 4a
​​ (i) Describe the term company's return date. 

(iii) Summarise eight components of a company's annual return.


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September 2021

 1 Questions
Question 7c
​​With reference to a quoted company, identify five contents of its annual financial statements and reports for a financial year.


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May 2021

 1 Questions
Question 4b
​​Identify four uses of a statement of profit or loss.


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November 2019

 1 Questions
Question 3b
​​(i) In relation to company investigations, outline four powers of an inspector appointed to investigate the affairs of a company. 

(ii) Describe four types of content to be stated in an annual return of a company.


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May 2019

 1 Questions
Question 6b
​​With regard to company accounts, audit and investigation: 

(i) Specify three categories of members who might apply to the court for appointment of company inspectors to investigate the affairs of the company. 

(ii) Enumerate seven requirements for group financial statements.


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May 2018

 2 Questions
Question 3a
​​(i) lighlight four books of account that a company is required to maintain. 

(ii) Outline four purposes of a profit and loss account of a company.


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Question 4c
​​Explain the duties of company auditors under the following sub-headings: 

(i) Duties towards the company. 

(ii) Duties towards the general public.


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November 2017

 1 Questions
Question 1b
​​Outline four circumstances when group accounts of a holding company need not include the accounts of its subsidiary.


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November 2016

 1 Questions
Question 6a
​​The Companies Act provides that if no auditor has been appointed by the end of the next period for appointing auditors, any auditor in office immediately before that time is taken to be re-appointed at that time. 

With reference to public companies, summarise five exceptions to the above provision.


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May 2016

 3 Questions
Question 4b
​​Flo Limited was incorporated in 2013 with a share capital of Sh.3 million divided into 30.000 shares of Sh.100 each. The main object of the company was to acquire and carry on the business of computer software and associated business which the company might consider conducive or auxiliary thereto. The company has gone into liquidation. Dijonese Majani, a former shareholder has made a claim against the company for the balance of the price of shares which he had sold to the company but which he was never fully paid for. 

With reference to the above facts, explain the following: 

(i) The rule as laid down in Trevor Vs Whitworth. 

(ii) The exception to the rule in (b)(i) above.


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Question 4a
​​ Indicate five liabilities as contributories of present and past members of a company.


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Question 3a
(i) Explain the legal position of a company secretary. 

(ii) As the company secretary of Jombo Limited, you have been instructed to prepare an annual return for the company for purposes of filing. 

Highlight four contents that you would include in the above annual return.


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Pilot September 2015

 2 Questions
Question 6b
​​ List five registers that must be maintained by a company.


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Question 3b
​​Every public company must, within a period of not less than one month nor more than three months from the date at, which the company is entitled to commence business, hold a statutory meeting. The statutory meeting enables members of the company to consider the statutory report. 

Outline five contents of the statutory report.


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