Company accounts | Lecture 1 | introduction | Hindi / urdu | Ezair Commercia

Описание: A company is a voluntary association of people who contribute money for a common purpose. A company is an artificial person and a separate legal entity. Let us now understand the basic concepts of company accounts. The contribution of money by people forms the capital of the company and the contributors are its members. Hence, the capital of a company is known as share capital and the contributors as shareholders. Indian Companies Act, 2013 governs all companies and provides guidelines for them to adhere to.

Section 2(84) of the Companies Act, 2013 defines share as a share in the share capital of a company and it includes stock. The share capital of a company is divided into units of smaller denominations. Each such unit is called a Share. It entitles the holder to ownership in the company.

Issue of Shares for Cash
Issue of Shares for Consideration
Under and Over Subscription
Calls-in-Advance
Calls-in-Arrears
Issue of Shares to Promoters
Forfeiture of Shares
Reissue of Shares
Issue of Debentures
Issue of Debentures as Security
Issue of Preference Shares
Capital Redemption Reserve Account

As per Section 43 of the Companies Act, 2013 Share Capital of a company can be of two types:

Equity Share Capital
Preference Share Capital

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