Introduction to Company Accounts

A person who conceives a business idea and takes the initiative to form and register the company.

Up to six names.

Promoters.

<p>Memorandum of Association and Articles of Association.</p> Signup and view all the answers

<p>A declaration by an advocate or practicing professional (CA, CS, etc.) regarding compliance.</p> Signup and view all the answers

<p>Details of each subscriber, details of the first director, address for correspondence, required registration fees.</p> Signup and view all the answers

<p>Share is the smallest part of the share capital of the company.</p> Signup and view all the answers

<p>The owner of the shares is called a shareholder.</p> Signup and view all the answers

<p>Stock is a bundle of fully paid shares.</p> Signup and view all the answers

<p>Each share has a predetermined value known as the face value.</p> Signup and view all the answers

<p>The two types of shares are Equity Shares and Preference Shares.</p> Signup and view all the answers

<p>The Registrar of the company issues the Incorporation Certificate once all required documents are received.</p> Signup and view all the answers

<p>Uncalled amount of share subscribed capital demanded at emergency or liquidation</p> Signup and view all the answers

<p>As final dividend and interim dividend</p> Signup and view all the answers

<p>Final dividend is proposed at the annual general meeting while interim dividend is declared between two annual general meetings</p> Signup and view all the answers

<p>As a contingent liability until declared at the annual general meeting</p> Signup and view all the answers

<p>In a stipulated time after declaration</p> Signup and view all the answers

<p>In vertical format along with notes to accounts</p> Signup and view all the answers

<p>a.Investments in Equity Instruments b.Investments in Preference Shares c.Investments in Government or Trust Securities d.Investments in Debentures or Bonds e.Investments in Mutual Funds f.Investments in Partnership Firms g.Other Investments</p> Signup and view all the answers

<p>a.Raw Materials b.Work-in-progress c.Finished Goods d.Stock-in-Trade e.Stores and Spares f.Loose Tools g.Others</p> Signup and view all the answers

<p>a.Secured, Considered Good b.Unsecured, Considered Good</p> Signup and view all the answers

<p>Provision made for potential bad debts or doubtful debts.</p> Signup and view all the answers

<p>a.Balances with Banks b.Cheques, Drafts on Hand c.Cash on Hand d.Others (specify nature)</p> Signup and view all the answers

<p>Non-Trade Receivables Unamortized Expenditure Unbilled Revenue</p> Signup and view all the answers

<p>Forfeiture of shares refers to the cancellation of shares due to non-payment of calls by shareholders.</p> Signup and view all the answers

<p>Re-issuing forfeited shares allows the company to recover the forfeited amount by selling those shares to new investors.</p> Signup and view all the answers

<p>Equity shares represent ownership in the company and have voting rights, while preference shares have a fixed dividend but no voting rights.</p> Signup and view all the answers

<p>An ESCROW Account is used to hold funds or assets temporarily while the transaction is being finalized.</p> Signup and view all the answers

<p>Sweat Equity refers to shares issued to employees or directors based on their performance or contribution to the company.</p> Signup and view all the answers

<p>A One Person Company is a type of company that can be formed with just one person as a member or shareholder.</p> Signup and view all the answers