Acting within a company’s powers 3

“An act of a company is not invalidated just because it is outside the scope of the objects of the company. Practically, the objects as stated in the Company Regulations will be construed to include only purposes that are reasonably consequential to the stated objects.”

Akua O. Asare-Menako (Excerpt from her article, ‘The Limits of Company’s Powers: The Ultra Vires Doctrine’, Business & Financial Times, 09.07.2017)


Acting within a company’s powers 2

“When a company acts outside the limits of its objects, it is deemed to be ‘acting in excess of its powers’. For instance, a company incorporated to provide insurance brokerage services would be acting in excess of its powers if it starts dealing in automobiles. This condition of a company acting in excess of its powers is termed a ‘ultra vires’.

Synergia Business Solutions

Tax Amnesty (Ghana) Benefits – Pt.1

“Existing taxpayers and entities not already registered with the Ghana Revenue Authority could enjoy a number of benefits such as penalty waivers, interest and/or tax waivers up to the 2017 year of assessment by taking advantage of the provisions of the Tax Amnesty Act, 2017 (Act 955).”

Synergia Business Solutions

The Income Statement

The profit and loss statement, commonly referred to as the income statement, is one of three financial statements every public company issues quarterly and annually, along with the balance sheet and the cash flow statement. The income statement, like the cash flow statement, shows changes in accounts over a set period of time. The balance sheet, on the other hand, is a snapshot, showing what is owned and owed at a single moment. It is important to compare the income statement with the cash flow statement, since under the accrual method of accounting, revenues and expenses can be logged before cash actually changes hands.