CBSE Class 12 Accountancy Accounting For Share Capital Chapter Notes

Accountancy
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Revision Notes for Class 12 Accountancy Part 2 Chapter 1 Accounting for Share Capital

Class 12 Accountancy students should refer to the following concepts and notes for Part 2 Chapter 1 Accounting for Share Capital in Class 12. These exam notes for Class 12 Accountancy will be very useful for upcoming class tests and examinations and help you to score good marks

Part 2 Chapter 1 Accounting for Share Capital Notes Class 12 Accountancy

ACCOUNTING FOR SHARE CAPITAL
 
1. Share and share capital: nature and types.
 
2. Accounting for share capital: issue and allotment of equity and preferences shares.
 
3. Public subscription of shares - over subscription and under subscription of shares; issue at par and at premium, calls in advance and arrears (excluding interest),
 
4. issue of shares for consideration other than cash.
 
5. Concept of Private Placement and Employee Stock Option Plan (ESOP).
 
6. Accounting treatment of forfeiture and re-issue of share
 
7. Disclosure of share capital in the Balance Sheet of a company
 
(Share and Share Capital: Nature and types)
“A Company is an artificial person created by law, having separate entity with a perpetual succession and a common seal.”
 
                                                                                                                                                        Definition given by Prof. Haney
CBSE Class 12 Accountancy Accounting For Share Capital Chapter Notes 1
 
 
Characteristics (Features) of a company
 
1. The certificate of incorporation of a company is issued by registrar of companies as per procedure/guidelines given in the Companies Act, 2013. The law considers a company as an artificial legal person.
2. A Company is a separate legal entity from its owner (shareholders).
3. A company has perpetual existence, not affected by the death, lunacy or insolvency of its shareholders. It can be winded up only by the law (Court or registrar of company.)
4. Every company has it own common seal, which act as the official signature of the company.
5. The share of a company is transferable subject to certain conditions (e.g. some conditions for private company.)
6. The company is managed by the ‘Board of Directors’, the directors are representative of the shareholders (owners). So, management and ownership are separate in company organization.
7. The liability of a shareholder is limited upto the nominal price of shares subscribed by one.
(Incorporation of a Company)
CBSE Class 12 Accountancy Accounting For Share Capital Chapter Notes 2
 
Types of Companies:
 
Private Company- Section 2(68) of the companies Act,2013 defines “A private company which by its articles of Association.
 
Restricts the right to transfer its shares;
 
Limit the number of its members to 200 excluding its past or present employee members; Prohibits any invitation to public to subscribe for any of its securities. The name of every private Company must end with the words ‘Private
Limited’.
CBSE Class 12 Accountancy Accounting For Share Capital Chapter Notes 3
 
Public Company- According to section 2(71) of the companies Act, 2013. A public company means a company which is not a private company. Private company which is a subsidiary of a company not being a private company shall be deemed a public company.
 
(iii) One Person Company-
Section 2(62) of the Companies Act, 2013 states one-person company is a company which has only one person as a member.
 
Rule 3 of the Companies (Incorporation) Rules, 2014 provides that (i) Only an Indian citizen resident in India can form on Person Company; (ii) Its paid-up capital is not more than 50 lakhs; (iii) Its Average annual turnover should not
exceed ` 2 Cores; (iv) it cannot carry out Non-banking financial Investment activities.
CBSE Class 12 Accountancy Accounting For Share Capital Chapter Notes 4
An OPC is mandatorily converted into Private/Public company. When the paidup share Capital is increased beyond ` 50 Lakhs or its average annual turnover exceed 2 Crore)


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Important Formulas
CBSE Class 12 Accountancy Important Formulas
Part 1 Chapter 01 Accounting for Not for Profit Organisation
CBSE Class 12 Accountancy Accounting For Not For Profit Organisations Notes Set A
CBSE Class 12 Accountancy Accounting For Not For Profit Organisations Notes Set B
Part 1 Chapter 02 Accounting for Partnership Basic Concepts
CBSE Class 12 Accountancy Accounting For Partnership Firms Notes
CBSE Class 12 Accountancy Goodwill Nature And Valuation Notes
CBSE Class 12 Accountancy Partnership Fundamentals Notes
CBSE Class 12 Accountancy Partnership Guarantee Of Profits Notes
Part 1 Chapter 03 Reconstitution of a Partnership Firm Admission of a Partner
CBSE Class 12 Accountancy Accounting For Partnership Firms Admission Of A Partner Notes
CBSE Class 12 Accountancy Accounting For Partnership Firms Fundamentals Notes
CBSE Class 12 Accountancy Reconstitution Of Partnership Notes
Part 1 Chapter 04 Reconstitution of a Partnership Firm Retirement/Death of a Partner
CBSE Class 12 Accountancy Retirement Or Death Of A Partner Notes
Part 1 Chapter 05 Dissolution of Partnership Firm
CBSE Class 12 Accountancy Dissolution Of A Partnership Firm Notes
Part 2 Chapter 01 Accounting for Share Capital
CBSE Class 12 Accountancy Accounting For Companies Notes
CBSE Class 12 Accountancy Accounting For Share Capital Chapter Notes
CBSE Class 12 Accountancy Accounting For Share Capital Notes
CBSE Class 12 Accountancy Implementation Of Schedule VI Of Companies Act Notes
CBSE Class 12 Accountancy Partnership Accounting For Issue Of Share Capital Notes
Part 2 Chapter 02 Issue and Redemption of Debentures
CBSE Class 12 Accountancy Accounting For Debentures Notes
CBSE Class 12 Accountancy Redemption Of Debenture Notes
Part 2 Chapter 03 Financial Statements Of a Company
CBSE Class 12 Accountancy Financial Statement Of Companies Notes
Part 2 Chapter 04 Analysis of Financial Statements
CBSE Class 12 Accountancy Analysis Of Financial Statements Notes
CBSE Class 12 Accountancy Partnership Common Size And Comparative Statements Notes
Part 2 Chapter 05 Accounting Ratios
CBSE Class 12 Accountancy Accounting Ratios
CBSE Class 12 Accountancy Partnership Ratio Analysis Chapter Notes
CBSE Class 12 Accountancy Partnership Ratio Analysis Notes
Part 2 Chapter 06 Cash Flow Statement
CBSE Class 12 Accountancy Cash Flow Statement Notes Set A
CBSE Class 12 Accountancy Cash Flow Statement Notes Set B
CBSE Class 12 Accountancy Partnership Cash Flow Statement Notes

CBSE Class 12 Accountancy Part 2 Chapter 1 Accounting for Share Capital Notes

We hope you liked the above notes for topic Part 2 Chapter 1 Accounting for Share Capital which has been designed as per the latest syllabus for Class 12 Accountancy released by CBSE. Students of Class 12 should download and practice the above notes for Class 12 Accountancy regularly. All revision notes have been designed for Accountancy by referring to the most important topics which the students should learn to get better marks in examinations. Our team of expert teachers have referred to the NCERT book for Class 12 Accountancy to design the Accountancy Class 12 notes. After reading the notes which have been developed as per the latest books also refer to the NCERT solutions for Class 12 Accountancy provided by our teachers. We have also provided a lot of MCQ questions for Class 12 Accountancy in the notes so that you can learn the concepts and also solve questions relating to the topics. We have also provided a lot of Worksheets for Class 12 Accountancy which you can use to further make yourself stronger in Accountancy.

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