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Meetings BCR CA Foundation Notes

Meetings BCR – CA Foundation, CPT notes, PDF

This article is about Meetings- BUSINESS CORRESPONDENCE AND REPORTING for CA foundation CPT students. we also provide PDF file at the end.

MEETINGS

MEETINGS

What we will study in this chapter:

Past Year Questions and Answers

Descriptive Questions

2002 – Nov [1] {C} (viii) Comment on the following statements in about 30 words each:

The official recording of the proceedings of a meeting is called an Agenda.

(1 mark)

Answer:

The official recording of the proceedings of a minute is not an agenda but ‘minutes’. Agenda is a document which specifies the business to be transacted in a meeting. While agenda is drafted before a meeting a minute is drafted after the meeting.

2003 – May [1] {C} (iv) Confirmation of minutes of a previous meeting has always to be the last item on an Agenda of meeting                                                                                                       (1 mark)

(v) Compilation of minutes of a meeting is a job of Chairman only

(1 mark)

(ix) Resolutions and Action plans are directly related                                                 (1 mark)

Answer:

(iv) A document that outlines the contents of a forthcoming meeting is called as an Agenda. It is usually sent with the notice of the meeting. On an agenda confirmation of minutes of a previous meeting has always, to be the last item.

(v) Compilation of minutes is a job of Company Secretary. However, it is important that each page of the minutes book is dated and signed by the chairman of the meeting only. Hence, compilatibn of minutes of a meeting is the job of chairman only.

(ix) Resolutions and action plans at a meeting are recorded and no reference is made to any discussion preceding the resolutions. No information is mentioned of the movers and the seconders of the resolutions. Hence, resolutions and action plan are directly related.

2003 – May [3] (Or) (c) Draft minutes with proper resolutions of an Annual General Meeting of shareholders of a Public Limited Company at which the following business was transacted:

(i) Adoption of audited accounts of the company alongwith the reports of Auditors and Directors.

(ii) Declaration of Dividend.

(iv) Appointment of Auditors. (10 marks)

Answer:

Shri Ram Organic Limited.

Minutes of the fifteenth Annual General Meeting of the company held at the Registered Office on Sunday, the 13 th September 2005 at 4 p.m.

Present:

Mr. Manoj Kumar, Chairman of the Board.

Mr. Ram Shanker Das. 1

Mr. Raj Kishore. f Directors

Mr. Shyam Lai, Kiran Kumar j

In Attendance:

Mr. Krishna Gopal, Secretary.

Mr. Jai Singh, Solicitor

and 130 shareholders, whose names are given in the attached list.

(i) Adoption of audited accounts of the company along with the reports of Auditors and Directors: The notice convening the meting and the reports of the auditors of the account are read by the secretary. The chairman suggested that the Director’s report and the Accounts is sued therewith be taken as read. In his address, he referred to the all round progress made |py the company. He pointed out the hope that the company would continue to do satisfactory business during the period to follow. He moved’“That the Directors’ reports and Accounts as audited by the company Auditors now before the meeting be and are here by approved and adopted.”

Mr. Raj Kishore seconded the Motion. It was put to’ vote and carried unanimously.

(ii) Declaration of Dividend: Mr. Shyam Lai moved “That a dividend of ? 10 per equity share, subject to income tax are recommended by the Directors be and is here by approved and the said Dividend be paid to the shareholders whose names stood on the books of the company as on 15th October 2000”.

Mr. Ram Shanker Das seconded the motion and it was unanimously accepted.

(iv) Appointment of Auditors: On the motion of Mr. Manoj Kumar seconded by Mr. Raj Kishore, it was resolved”

“That Messrs Sumit and Shubham, the retiring auditors be re-appointed as the auditor of the company from the conclusion of this meeting untill the conclusion of the next. AGM at a fee of ? 10,000.

2003 – Nov [1] {C} (ix) Comment on the following statements in about 30 words each:

The agenda facilitates smooth conduct of a meeting.                                                 (1 mark)

Answer:

The important step of meeting is to set an agenda. It gives an idea about the business to be conducted in the meeting. It tends to focus the meeting of the business to the relevant aspects only. Time scheduling for various relevant important matter can be adhered to.

2004 – May [1] (c) Comment the following statements in about 30 words each: .

(xiv) Minutes provide a systematic records of the meeting proceedings.

(1 mark)

Answer:

Minutes provide a systematic records of the meeting proceedings: The

systematic and authentic records of the proceedings of a meeting are minutes. This gives all the information about the proceedings at the meeting as to who chaired it, who were present, what decisions were taken and so on. They can also be utilised as legal evidence, unless the contrary is proved.

2004 – May [3] (Or) (c) Explain the procedure of conducting meeting in a large organisation. (10 marks)

Answer:

Procedure for conducting meeting in a large organisation:

In an organisation business is transacted at duly conversed meeting of shareholders and director. Any officer authorised by the board of directors sends notice of the meeting, which specifies the day, date, time and place for the meeting along with an accompanying programme for the meeting, which is called Agenda.

No meeting can move forward unless there is an appropriate authority to chair the meeting. After his taking the chairmanship the procedure begins with recording the attendance of members present and of proxies.

Quorum for the meeting is to be checked before the commencement of business. After this when the meeting is on , the secretary is always present to note down whatever is said by edch member. Aftc»r the conclusion, he has to makes an official recording of the proceeding in a separate book kept for the purpose. These recordings are called ‘minutes’.

The first step is to get the minutes of the precious meeting read out and confirmed by the present members. Then the items on the Agenda are considered one by one. All the remarks of the participants are recorded in chronological order, elaborately in direct speech by the secretary.

The proposal of an item is called ‘motion’ which is moved by a member and seconded by another for further discussion. If there is no seconding, the motion would be deemed to have been lost.

The members who speak on draft resolutions may speak on it and may jot down working hints. The decision is set out in the form of a resolution., Whatevet the meting resolves.

Various items are discussed on the agenda and is resolved in the form of resolution. He records them in the draft form, to be recorded formally after the meting is the ‘minute books’ excluding all irrelevant matter. After all the items on the agenda are discussed, any other matter may also be taken up with thp permission of the chairman. The meeting is concluded with a vote of thanks to the chairman.

2005 – May [1] (ii) The agenda facilitates smooth conduct of a meeting.

(1 mark)

Answer:

An agenda is a document which specifies the business to be transacted in a meeting. It helps the chairman to conduct the meeting smoothly as the agenda has a definite order. It, helps the members to come prepared for the discussion to be held in the meeting.

2005 – Nov [3] (c) What are the main contents of the minutes of a meeting? What suggestions can you give for writing the minutes effectively?

(5 + 5 = 10 marks)

Answer:

Minute is the official written record of the business transacted at a meeting. It is the summary of the business transacted, decisions and resolutions arrived at the meeting. It is the evidence or proof of the proceedings at a meeting.

The company secretary is responsible for compiling minutes. He takes down the notes carefully at the meeting and soon after the end of the minute he prepares the draft of the minutes.

The main contents of the minutes of a meeting are as follows:

  1. The name of the organizational unit e.g. finance board.
  2. The date, time, place of meeting.

3.. The member of the meeting e.g. 4lh meeting of finance board.

  1. The name of the chairman..
  2. The quorum present.
  3. The name of the persons who attends the meeting.
  4. Record of business transacted.
  5. Signature of the secretary and the chairman.

Suggestions for writing the minutes effectively:

  1. The minutes should be written in reported speech.
  2. The emotions and feelings expressed by members during the course of meeting should not be recorded in the minute.
  3. To facilitate inference each item should be given a heading and a number.
  4. When a proposal or a resolution is approved by a majority, the name of the proposer should be mentioned. .Also, the number of votes cast for and against it should be recorded. /
  5. The minutes should be circulated to the members before hand and their suggestions noted.
  6. The language of the minute should be kept as simple as possible.
  7. The rough draft should be shown to the chairperson for his approval and suggestions.

2006 – May [1] (c) Comment on the following statements in about 30 words each :

(xi) Minutes are the official record of the proceeding of a meeting.

(1 mark)

(xv) Notification and agenda mean the feame thing.                                                   (1 mark)

Answer:

Comment:

(xi) Minutes are the official record of the proceedings of a meeting. It is a summary of the business transacted, decisions taken and . resolutions arrived at the meeting. It is also the evidence or proof of the proceedings at a meeting, of when and where the meeting was held, who chaired the meeting, what decisions were taken etc. Minutes are maintained by the company secretary.

(xv) No, notification and agenda do not mean the same thing. Agenda is a document which specifies the business to be transacted in a meeting. It is a statement of issues to be discussed during the meeting. Notification is to notify the members about the meeting. For this a notice is sent to the member. It is issued by the company to the share holders which notifies them about the meeting to be held.

2006 – Nov [1] (c) Comment on the following statements in about 30 words each :

(xiv) Comment on the following statements in about 30 words each: Passing a resolution and taking a decision refer to same thing.

(1 mark) –

(xv) Command meeting is an autocratic style of group decision making.

(1 mark)

Answer:

(xiv) A resolution is actually a motion which is approved or adopted at a meeting. Practically a motion when put to vote and passed by the required majority becomes a resolution. It thus reflects the decision taken at a valid meeting. So we can say passing a resolution and taking a decision refers to same thing.

(xv) Command Meeting is a meeting between a superior and his subordinates. It is a concept developed by Wilfred Brown. It is a meeting where the superior and subordinate meet, discuss but the ultimate decision lies with the superior. The superior is therefore solely responsible for the decisions taken. Thus the spirit of ‘democracy’ is missing here. The aim of such meeting is the manager’s attempt to give instructions, share information with subordinates, clear up misunderstanding etc.

Thus, command meeting is an autocratic style of group decision making.

2006 – Nov [3] (Or) (c) You are Secretary of Ferguson College Thrift and Credit Cooperative Society (FCTCCS), Chennai. You had issued a notice to hold the monthly meeting of its Executive Committee to transact following business :

(i) To confirm the minutes of the last meeting.

(ii) To consider loan applications for ^ 50,000 each received from three members.

(iii) To recommend dividend for the year 2005-06.

(iv) To consider resignation of Mr. Pankaj Agarwal, the treasurer of the society.

(v) To fix the date of Annual General Meeting of the Society.

The meeting took place on 10th September, 2006. Draft the minutes keeping above agenda in mind. (10 marks)

Answer:

FERGUSAN COLLEGE THRIFT AND CREDIT CO-OPERATIVE SOCIETY (FCTCCS)

CHENNAI

MINUTES OF EXECUTIVE COMMITTEE MEETING

HELD IN : BOARD ROOM

ON : 10th SEPTEMBER, 2006

AT : 3.30 P.M.

PRESENT:

Mr. GOURAB GUPTA Chairman

Mr. RAJARAM TIWARI Director, Finance

Mr. SHARAD AGRAHARI Director, Personnel

Ms. ANUMITA SINGH Director, Production

Mr. KAMLESH PATHAK Director, Marketing

Mr. RAMASWAMI IYER Nominee, Director

Mr. SUJOY ROY Company Secretary

DECISIONS TAKEN :

(i) The minutes of the meeting held on 27th April, 2006 were approved.

(ii) The loan application for ? 50,000 received from Mr. Raja Ram Tiwari, Mr. Kamlesh Pathak and Ms. Anumita Singh were considered and loan granted.

(iii) Mr. Sharad Agrahari moved that a dividend of ? 10 per equity share, subject to income tax are recommended by the Directors for the year 2005-06.’

The motion was seconded by Ms. Anumita Singh which was unanimously accepted.

(iv) Mr. Kamlesh Pathak moved and Mr. Ramasway Iyer seconded the following, That the resignation of Mr. Pankaj Agarwal, the treasurer of the society be considered.’

The move was however rejected and the resignation not considered.

(v) On the motion of Ms. Anumita Singh it was resolved that Annual General Meeting of the society be held on 24th of November 2006.

The meeting ended with a vote df thanks to the chair.

— Sujoy Roy Company Secretary

 

*This article contains all topics about Meetings BUSINESS CORRESPONDENCE AND REPORTING

For notes on all CA foundation topics, you can visit this article CA foundation note

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