Joint Stock Company
- Company is an association of people who contribute money to a common stock and use it for a common purpose.
- On the basis of liability company can be limited by shares, guarantee or unlimited company.
- Company limited by Shares can be
- Shares of defaulting shareholders who fail to pay the amount due on allotment or on any call within the specified period may get cancelled by the directors. This is known as forfeiture of shares.
- This can be done only if it is specified in
.... Read More
- Debenture is written acknowledgement of debt. Debenture document contains conditions and provisions regarding repayment of principal and payment of interest.
- Debentures include debenture stock, bond and any other instrument acknowledging debt.
- Debenture interest is the amount paid to debenture holders at a pre determined rate.
- When debentures are issued to vendors they are known as issue of debentures for consideration other than cash. The value of debentures issued in this is generally equal to the
- Repayment of principal amount of a debt before maturity is known as redemption of debentures. The sources of redemption of debentures are by raising fresh capital, sale of assets, utilisation of profits or by utilisation of surplus funds.
- Debentures can be rede
- From financial year 2014-15, companies are required to prepare Financial Statements in accordance with Schedule III.
- Financial statements are end products of accounting process. They provide information about the profitability and financial position of a busine