Accounting for the subdivision and distribution of land by limited liability companies in Kenya

This study attempts to provide a conceptual insight
into the various accounting/legal problems and complications
that arise in the subdivision and distribution of land to
the shareholders by limited liability companies in Kenya.
The highlighting of the various accounting and legal
problems apart, the study also attempt's to provide
prescriptive accounting treatments to the various
problematic land subdivision and distribution circumstances.
The paper starts by providing a chronological account
of the various historical as well as cultural factors
that necessitated the formation of most of the limited
liability companies that have been concerned with the land
subdivision and distribution exercise. The paper points
out that the colonial alienation of the African lands to the
Europeans which caused a landless African class in Kenya
coupled with the African respect for societal land ownership,
all together with the colonial influence of individualization
of land ownership have been largely responsible for the
formation of these companies.