Accountant Or Accomptant - Law Dictionary Search Results

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Accountant or Accomptant

Accountant or Accomptant, one whose business it is to compute, adjust, and range in due order accounts; also to audit accounts. The Institute of Chartered Accountants in England and Wales was incorporated by Royal Charter, May 11th, 1880. No person is entitled to describe himself as a chartered accountant unless he is a member of an Institute of Accountants incorporated in the United Kingdom by Royal Charter; see Society of Accountants in Edinburgh v. Corporation of Accountants Ltd. (1893) 20 R 750; Society of Accountants and Auditors v. Goodway, (1907) 1 Ch 489....

Account or Accompt

Account or Accompt [fr. compte, Fr., computo, Lat.], a registry of debts, credits, and charges, or a detailed statement of a series of receipts (credits) and disbursements (debits) of money-which have taken place between two or more persons. Accounts are either-(1) open, where the balance is not struck, or it is not accepted by all the parties; (2) stated, where it has been expressly or impliedly acknowledged to be correct by all the parties; and (3) settled, where it has been accepted and discharged. Stated and settled accounts may be investigated and reopened by the Court on the ground of fraud or fiduciary relationships. See SURCHARGE and FALSIFY.Companies under the Companies Act, 1929, must keep proper books of account, and present to the company in general meeting not less than 18 months after incorporation and subsequently at least once in every year a profit and loss account and balance sheet, to copies of which shareholders of all companies, except private companies, are entitl...

Accountant-General, or Accomptant-General

Accountant-General, or Accomptant-General, an officer of the Court of Chancery, appointed by Act of Parliament to receive all money lodged in Court, and to place the same in the Bank of England for security. (12 Geo. 1, c. 32; 1 Geo. 4, c. 35; 15 & 16 Vict. C. 87, ss. 18-22 and 39). The office was abolished by the (English) Chancery Funds Act, 1872 (35 & 36 Vict. C. 44), and the duties transferred to the Paymaster-General. See (English) Sup. Court of Judicature (Funds) Act, 1883 (46 & 47 Vict. C. 29). The office of Accountant-General was revived by the (English) Judicature Act, 1925, Part VI., ss. 133 to 149, repealing and replacing the Act of 1883....

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