Describe the functions of the different meetings held by limited companies - Leaving Cert Business - Question 4(A) - 2014
Question 4(A)
Describe the functions of the different meetings held by limited companies.
(20 marks)
Worked Solution & Example Answer:Describe the functions of the different meetings held by limited companies - Leaving Cert Business - Question 4(A) - 2014
Step 1
Annual General Meeting (AGM)
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The Annual General Meeting is held once a year and attended by the directors and shareholders of the company. The main functions of the AGM include:
The shareholders elect a board of directors.
The shareholders appoint auditors.
The chairperson gives a report on company performance.
The auditor's report is presented.
Shareholders have an opportunity to question directors in public on company policy.
Declare a dividend.
Step 2
Extraordinary General Meeting (EGM)
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The Extraordinary General Meeting is a meeting of the shareholders and company directors held to discuss a matter of urgency that cannot wait until the next AGM. No other matters are discussed at this meeting.
Step 3
Board Meetings
96%
101 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Board meetings involve the meetings of the board of directors and are usually held on a monthly basis. During these meetings, progress and performance are discussed, and strategic plans are formulated. Problem-solving is a key function of board meetings.
Step 4
Statutory Meetings
98%
120 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The statutory meeting is the first meeting of company shareholders. Its objective is to inform the shareholders about the affairs of the company. This meeting is held by every limited company once it has the statutory meeting prescribed in the company charter.
Step 5
Ad Hoc Meetings
97%
117 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Ad hoc meetings are those that take place at short notice to discuss a matter that requires immediate attention and that has arisen unexpectedly.
Join the Leaving Cert students using SimpleStudy...
