Account



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Contents

Receipts & Payment Account & Balance Sheet


Description: Receipts and Payment Account summarizes cash flow. The Balance Sheet shows financial position, detailing assets, liabilities, and equity.


Illustrations Based on Receipts & Payment


Description: Illustrations on Receipts & Payment Account demonstrate cash transactions, showcasing inflows, outflows, and the resulting cash balance.


Illustrations Based on Balance Sheet


Description: Balance Sheet illustrations depict assets, liabilities, and equity, reflecting financial health and resources of an organization at a specific time.


Salient features & Types of Companies


Description: A company is a legal entity with separate existence. Features include limited liability, perpetual succession, and diverse ownership structures (private, public).


Types of Shares & Subscription of Shares


Description: Types of shares include equity (common) shares and preference shares with varying rights. Subscription involves applying and acquiring shares in companies.


Oversubscription & Pro rata Allotment


Description: Oversubscription occurs when demand exceeds available shares. Prorata allotment distributes shares proportionally among applicants to meet oversubscription.


Calls-in-Arrears & Calls-in-Advance


Description: Calls-in-arrears are unpaid amounts on shares; calls-in-advance are payments exceeding due amounts for future calls on shares.


Issue of Debentures


Description: Debentures are debt instruments issued by companies to raise funds from the public, offering fixed interest and repayment terms.


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