statistics for management 16 october

www.afterschoool.tk AFTERSCHOOOL MATERIAL FOR PGPSE PARTICIPANTS

Accounting

AFTERSCHOOOL – DEVELOPING CHANGE MAKERS

CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME –

World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship

OPEN FOR ALL FREE FOR ALL


Accounting

Dr. T.K. Jain.

AFTERSCHOOOL

Centre for social entrepreneurship

Bikaner

M: 9414430763

[email protected]

www.afterschool.tk

www.afterschoool.tk


A company – not for profit will prepare ?

Income and expenditure statement


What is most important section regarding company accounts?

Sec. 210.


Who presents company accounts?

At the AGM, the board of Directors present the final accounts.


What is the minimum capital for a private company?

Rs. 1 lakh (as per company act as amended in 2003).


What is the minimum capital for a public company?

Rs. 5 lakh (as per company act as amended in 2003).


What is the maximum number of members in a private company?

50


What is the maximum number of members in a public company?

Unlimited.


Who prepares prospectus in a private company?

No one – private company does not prepare prospectus.


Can you transfer your share in a private company?

No.


Which is more : paid up or issued or subscribed or authorised capital?

Authorised.


Which capital is mentioned in Memorandum of association?

Authorised capital


According to SEBI, a company must receive how much minimum subscription?

90%.


If minimum subscription is not received, what should be done?

Refund the entire amount in 42 days from date of closure of the issue.


What is the minimum number of shares to be taken by one applicant, in case of issue at par?

200 shares of Rs. 10 each issued at par (as per SEBI guidelines)


Minimum period between 2 calls?

1 month


Minimum application money at the time of application?

25% of issue price


What is second installment generally called?

Allotment money


The shares must be paid up fullly in how much period – if the total issue is less than 500 crores?

In 12 months.


When we issue shares at discount, what is the maximum discount permissible?

10%


Can a new company issue shares at discount?

NO (only after 1 year of operations).


Can a new class of shares be issued at discount?

No


How can you use the money of securities premium account?

To write off preliminary expenses To write off expenses of or discount

allowed on securities / bonus To use as premium at the time of

redemption To pay as bonus shares.


What is call in arrears?

When shareholders don’t make the payment of a call, it is called call in arrears.


What is call in advance ?

Advance call received is called call in advance.


How much interest should be charged on call in arrears?

5% as per Table A.


How much interest should be paid on call in advance?

6% per annum as per TABLE A.


Can call in advance claim proportionate dividend?

NO .


WHAT IS FOREFEITURE OF SHARES?

To cancel a shareholdership, if a shareholder doesnot make payment. These shares can be reissued or cancelled.


We issued shares of Rs. 100 at Rs. 90.We received Rs. 40 as application and allotment money. What should be entry at the time of forefeiture? Share capital Account Dr. 100 Share forefeiture account credit 40 Share calls Account Credit : 50 Discount on issue of share credit 10


We issued shares of Rs. 100 at Rs. 110.We received Rs. 40 as application and allotment money and Rs. 8 as premium. What should be entry at the time of forefeiture?

Share capital Account Dr. 100 Share premium Account Dr. 2 Share forefeiture account credit 42 Share calls Account Credit : 60


We forefeited shares on which we had received Rs. 15 each. Now we are issueing these shares, how much can be maximum loss on each shares?

Maximum Rs. 15 (loss on reissue cannot exceed the forefeited amount).


We forefeited shares on which we had received Rs. 15 each. Now we are issueing these shares for Rs. 100 each (face value). What should we do with these 15?

These 15 Rupees are in forefeiture account, they will be transferred to capital reserve.


We forefeited shares on which we had received Rs. 15 each. Now we are issueing these shares for Rs. 80 each. Originally these shares were issued at Rs. 90 each. Is it permitted?

Yes, now we have total of Rs. 20 as discount. Out of this Rs. 10 will go to discount on share issue account and remaining will go to share forefeiture account, (it is permitted) as there is balance in share forefeiture account.


We have declared Rs. 5 lakh as dividend (but not yet paid). Where will it be shown in final accounts?

In Current liabilities in Balance sheet.


We purchase assets of Rs. 12 lakh against shares of face value of Rs. 100 at a premium of 20%. How many shares shall we issue at this time?

10000 shares.


What is the document inviting public subscription called?

PROSPECTUS


FOREFEITED SHARES ACCOUNT WILL BE SHOWN IN BALANCE SHEET - WHERE?

IT WILL BE ADDED TO THE PAID UP CAPITAL (LIABILITY SIDE).


CAN WE ISSUE FOR CONSIDERATION OTHER THAN CASH?

YES


WHAT IS PRORATA ALLOTMENT?

When we receive excess aplication, then we allot shares on pro-rata basis or refund the excess amount.


Dividends are calculated on which capital ?

Paid up capital


Where should we show calls in arrears in final accounts?

They should be deducted from capital to arrive at paid up capital. (liability side).


What is the maximum amount that we charge as premium (as % of face value)?

Un-limited


Can we issue redeemable preference shares?

Yes


Can we issue ir-redeemable preference shares?

No = (only those preference shares can be issued, which are redeemable in maximum 20 years).


Who bears more risks – shareholders, long term creditors, short term creditors?

Shareholders


ABOUT AFTERSCHOOOL Afterschoool conducts three year integrated PGPSE (after

class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.


Why such a programme?

To promote people to take up entrepreneurship and help develop the society

To enable people to take up franchising and other such options to start a business / social development project

To enable people to take up social development as their mission

To enable people to promote spirituality and positive thinking in the world


Who are our supporters?

Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us.

You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.


About AFTERSCHOOOL PGPSE – the best programme for developing great entrepreneurs

Most flexible, adaptive but rigorous programme Available in distance learning mode Case study focused- latest cases Industry oriented practical curriculum Designed to make you entrepreneurs – not just

an employee Option to take up part time job – so earn while

you learn The only absolutely free course on internet


Workshops from AFTERSCHOOOL IIF, Delhi CIPS, Jaipur ICSI Hyderabad Branch Gyan Vihar, Jaipur Apex Institute of Management, Jaipur Aravali Institute of Management, Jodhpur Xavier Institute of Management,

Bhubaneshwar Pacific Institute, Udaipur Engineering College, Hyderabad


Flexible Specialisations: Spiritualising business and society Rural development and transformation HRD and Education, Social Development NGO and voluntary work Investment analysis,microfinance and inclusion Retail sector, BPO, KPO Accounting & Information system (with CA / CS /CMA) Hospital management and Health care Hospitality sector and culture and heritage Other sectors of high growth, high technology and social

relevance


Salient features: The only programme of its kind (in the whole world) No publicity and low profile course For those who want to achieve success in life – not just a degree Indepth knowledge and expertise Professional approac: World class approach Strong intellectual and business capabilities Flexible – you may stay for a month and continue the rest of the

education by distance mode. / you may attend weekend classes Scholarships for those from poor economic background Latest and constantly changing curriculum – keeping pace with

the time Placement for those who are interested Admissions open throughout the year Latest and most advanced technologies, books and study material


Components Pedagogy curriculum and approach based on IIM Ahmedabad and ISB

Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) Meditation, spiritualisation, and self development Essential softwares for business Business plan, Research projects Participation in conferences / seminars Workshops on leadership, team building etc. Written submissions of research projects/articles / papers Interview of entrepreneurs, writing biographies of entrepreneurs Editing of journals / newsletters Consultancy / research projects Assignments, communication skill workshops Participation in conferences and seminars Group discussions, mock interviews, self development diaryng Mind Power Training & writing workshop (by Dr. T.K.Jain)


Pedagogy Case analysis, Articles from Harvard Business Review Quiz, seminars, workshops, games, Visits to entrepreneurs and industrial visits Presentations, Latest audio-visuals Group discussions and group projects Periodic self assessment Mentoring and counselling Study exchange programme (with institutions out of India) Rural development / Social welfare projects


Branches

AFTERSCHOOOL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.


Case Studies

We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.


Basic values at afterschoool Share to learn more Interact to develop yourself Fear is your worst enemy Make mistakes to learn Study & discuss in a group Criticism is the healthy route to mutual support

and help Ask fundamental questions : why, when, how &

where? Embrace change – and compete with yourself

only


www.afterschoool.tk social entrepreneurship for better society

statistics for management 16 october

Economy & Finance

shares of rs

forefeiture of shares

forefeited shares account

maximum rs

bonus shares

shares of face value

new company issue shares

total of rs