Profit forecasts are rarely disclosed in the UK except in prospectuses, circulars and during takeover bids. There are few regulations governing the content of profit forecasts. Under stock exchange rules these forecasts must be reported on by both reporting accountants and the merchant bankers...

Description of three various approaches to allocate income tax expense from financial statements of a subsidiary to financial statements according to the requirement of its parent company in case of the financial statements of a subsidiary used in the preparation of consolidated financial...