Month: February 2021

UTILITY Meaning of Utility Economists have always faced problems in explaining clearly why people are prepared to make sacrifices to obtain many of the goods and services which they evidently wish to have.  In a market economy this difficulty can Read More …

                              Aim The aim of this subject is to ensure that students have a solid foundation in economics contributing to the development of a competent and well-rounded Read More …

. DEFINITION By audit, one should understand a mission of investigating entrusted to a professional (named auditor sometimes) by a person in quest of information on a concerned operation or on a situation of an enterprise that consists depending on Read More …

REMOVAL FROM REGISTRAR COMPANIES Before speaking of actual removal from register, the law distinguishes a companies based on whether or not they have passed the solvency test. It is however difficult to establish. SOLVENCY AND COMPANY’S INABILITY TO PAY According Read More …

. DORMANT COMPANY Article 346 and 347 give this definition, a company shall be a dormant company for any period during which no significant accounting transaction occurs in relation to the company. Where a company has: been dormant from the Read More …

. DEFINITION   A foreign company is a company incorporated outside of Rwanda and that has some of its activities in Rwanda by: establishing a share transfer office or a share registration office in Rwanda; administering, managing or dealing with property Read More …

RECONSTRUCTION Transformation, Merger and Cessation The transformation of a company is the operation whereby a company changes its legal form by decision of its partners. The transformation of the company does not result in the creation of a new corporate Read More …

THE DISAPPEARANCE OF LEGAL PERSONALITY When a commercial company acquires legal personality the personality does not persist for life i.e., it is not permanent, it will some day end. The disappearance of legal personality is the consequence of dissolution of Read More …

FORM AND CONTENT OF ACCOUNTS .The Financial  statements will include a balance sheet (Statement of Financial Position) as at the year end and a profit and loss statement (Income Statement)for the period ending the at the balance sheet date. The Read More …

ORGANS OF CONTROL The directors render accounts of their management, once each year, before the annual meeting of shareholders. They present the statement of accounts for the year under review. In order to control the authenticity of these figures it Read More …