Tag Archives | Companies

Private and Public Company: Difference | India | Accounting

The upcoming discussion will update you about the differences between private and public company. Difference # Private Company: 1. The minimum number of members required to form a company is two. 2. The maximum number of members must not exceed fifty. 3. It must have two directors. 4. Shares are not freely transferable. 5. It […]

Under-Subscription and Over-Subscription of Shares | Company

In this article we will discuss about the accounting procedure for under-subscription and over-subscription of shares, explained with the help of suitable illustrations. Under-Subscription: Sometimes, the applications for shares received are less than the number of shares issued. For instance, a Company issued 10,000 shares to the public and the Company received applications for 8000 […]

Provisions for Prohibition of Buy-Back of Shares | India | Accounting

In this article we will discuss about the provisions for prohibition of buy-back of shares. According to Section 77B of the Companies Act, no company shall, directly or indirectly, purchase its own shares or other specified securities: (а) Through any subsidiary company including its own subsidiary companies; or (b) Through any investment company or group […]

Management of a Banking Company | India | Accounting

In this article we will discuss about the management of a banking company in India. A banking company must have a whole-time chairman appointed for five years at a time. He may become a director of a subsidiary of the banking company or of a guarantee company registered under Section 25 of the Companies Act […]

Top 5 Problems on Final Accounts of the Companies

Are you looking for problems and solutions of final accounts of the companies? You are at the right place! In this article we have compiled top five accounting problems on final accounts of the companies with its relevant solutions. Contents: Preparation of Profit and Loss Account, Profit and Loss Appropriation Account and Balance Sheet of […]

Liquidation of Companies: Top 10 Problems (With Solutions)

Are you looking for problems and solutions on liquidation of companies? You are in the right place! In this article we have compiled top ten problems on liquidation of companies along with its relevant solutions. Contents: Preparation of Statement of Affairs to the Meeting of Creditors Preparation of Statement of Affairs to the Meeting of […]

Winding Up of a Company | Accountancy

The winding-up or liquidation of a company means the termination of the legal existence of a company by stopping its business. Under the circumstances, the assets of the company are disposed of, the debts are paid-off out of the realised assets or from the contributions made by its members, and the surplus, if any, is […]

Top 6 Problems on Liquidation of Companies (With Solutions)

Are you looking for problems and solutions on liquidation of companies? You are in the right place! In this article we have compiled six selected accounting problems on liquidation of companies with its relevant solutions. Contents: Preparation of Liquidator’s Statement of Account Preparation of Liquidator’s Cash Account and Liquidator’s Final Statement of Account Preparation of […]

How to Prepare Final Accounts of Companies? | Accounting

The following article will guide you about how to prepare final accounts of companies. We know that there is no hard and fast rule of preparing accounts of a sole proprietorship firm. But according to Sec. 209 of the Companies Act, every company is to prepare its Profit and Loss Account and Balance Sheet at […]

Final Accounts of the Companies: Top 5 Problems

Are you looking for problems and solutions of final accounts of the companies? You are at the right place! In this article we have compiled top five accounting problems on final accounts of the companies with its relevant solutions. Contents: Final Accounts Including the Computation of Depreciation, Managing Director’s Remuneration and Provision for Taxation Final […]

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