GENERAL ACCOUNTING Definition

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GENERAL ACCOUNTING involves the basic principles, concepts and accounting practice, recording, financial statement preparation, and the use of accounting information in management.

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COST OF CONTROL (COC) is the amount paid by a holding company, sometimes at a premium, for shares in its subsidiary company over and above the value they would command as an investment, in recognition of the particular benefit, which the company gains through control.

INVESTORS' COMPENSATION SCHEME is a statutory scheme operated by the UK Securities and Investment Board to give individual investors up to £48,000 protection if an authorized investment business collapses.

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