Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XV. Accounts

Collection:: Economics Books

Statutory Books. 166 SECRETARIAL PRACTICE the accountant for information to guide him in his actions and to justify him in his decisions, and for this reason the sercetary is primarily concerned with the results of the accountant’s work, but only secondarily with the means used to obtain the results. Proper books of account must be kept by all companies. Indeed a statutory obligation is now imposed by s. 122 to keep proper books of account relating to (a) all sums of money received and expended and the matters in respect of which the receipt and expenditure takes place, (b) all sales and purchases of goods and (c) the assets and liabilities of the company. The books must be kept at the registered office of the company or at such other place as the directors think fit and must at all times be open to inspection by the directors. The books kept pursuant to this section will vary according to the circumstances of the case; but must be so kept as to enable the annual balance sheet to be framed in accordance with the statutory provisions (see Chapter XVI). They will include the cash book, containing the banking accounts in detail. In large concerns, which frequently have more than one banker in England, and conceivably one or more banking accounts in countries with which they trade, there may be more than one cash book. In any case the procedure of book-keeping will be the same, and the result should be to provide the secretary at intervals with a return showing the balance according to the banker’s pass book, the cheques issued but not cleared, the lodgments made but not credited, and finally the balance available for actual drawings. In large concerns, or concerns working with a small margin of free capital, this should be prepared daily. Such a return will, in case of need, also show amounts standing on deposit account, overdrafts, and balances at foreign bankers available for transfer to the main banking account. It will also be necessary for the secretary of any concern trading largely with foreign countries to have a daily return of the rates of exchange between England and the countries in which his company buys or sells. Until recently rates of exchange were so stabilised that this was not of so great importance, but at present (and so far as can be seen, for some time to come) it is and will be very necessary in the circumstances mentioned. With such returns as these the secretary will be able to forecast financial requirements. He will probably require to see that sufficient money is accumulated for the payment of salaries, and (in the case of a manufacturing concern) wages, and raw materials. He will be provided with a list of re- curring commitments, such as rents, rates. water, gas. etc..

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