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Page 1 Accounting For Share Capital Page 2 Accounting For Share Capital Meaning and Definition of A Company ? According to Section 2(20) of the Companies Act 2013: “Company” means a company incorporated under the Act (of 2013) or under any previous company law. ? According to Chief Justice Marshal (USA): “A company is a person artificial, intangible and existing only in the eyes of law. Being a creature of law, it possesses only those properties which the charter of its creation confers on it either expressly or incidental to its very existence. It has no physical existence but exists only in contemplation of law.” Page 3 Accounting For Share Capital Meaning and Definition of A Company ? According to Section 2(20) of the Companies Act 2013: “Company” means a company incorporated under the Act (of 2013) or under any previous company law. ? According to Chief Justice Marshal (USA): “A company is a person artificial, intangible and existing only in the eyes of law. Being a creature of law, it possesses only those properties which the charter of its creation confers on it either expressly or incidental to its very existence. It has no physical existence but exists only in contemplation of law.” Kinds of Companies ? Company limited by guarantee [Section 2(21)] ? Company limited by shares [Section 2(21)] ? Unlimited Company [Section 2(92)] ? Private Company [Section 2(68)] ? Public Company [Section 2(71)] ? Government Company ? Foreign Company ? Companies with Charitable objects ? One person company (OPC) ? Holding and Subsidiary Company ? Statutory Companies Page 4 Accounting For Share Capital Meaning and Definition of A Company ? According to Section 2(20) of the Companies Act 2013: “Company” means a company incorporated under the Act (of 2013) or under any previous company law. ? According to Chief Justice Marshal (USA): “A company is a person artificial, intangible and existing only in the eyes of law. Being a creature of law, it possesses only those properties which the charter of its creation confers on it either expressly or incidental to its very existence. It has no physical existence but exists only in contemplation of law.” Kinds of Companies ? Company limited by guarantee [Section 2(21)] ? Company limited by shares [Section 2(21)] ? Unlimited Company [Section 2(92)] ? Private Company [Section 2(68)] ? Public Company [Section 2(71)] ? Government Company ? Foreign Company ? Companies with Charitable objects ? One person company (OPC) ? Holding and Subsidiary Company ? Statutory Companies Shares – Meaning and Types ? What is a share? ? Capital of a company is divided into units or parts of equal amount. Every unit/part is called a share. ? According to Section 2(84) of the Companies Act, a ‘share’ means a share in the share capital of a company and includes stock. ? It is an ownership security. Page 5 Accounting For Share Capital Meaning and Definition of A Company ? According to Section 2(20) of the Companies Act 2013: “Company” means a company incorporated under the Act (of 2013) or under any previous company law. ? According to Chief Justice Marshal (USA): “A company is a person artificial, intangible and existing only in the eyes of law. Being a creature of law, it possesses only those properties which the charter of its creation confers on it either expressly or incidental to its very existence. It has no physical existence but exists only in contemplation of law.” Kinds of Companies ? Company limited by guarantee [Section 2(21)] ? Company limited by shares [Section 2(21)] ? Unlimited Company [Section 2(92)] ? Private Company [Section 2(68)] ? Public Company [Section 2(71)] ? Government Company ? Foreign Company ? Companies with Charitable objects ? One person company (OPC) ? Holding and Subsidiary Company ? Statutory Companies Shares – Meaning and Types ? What is a share? ? Capital of a company is divided into units or parts of equal amount. Every unit/part is called a share. ? According to Section 2(84) of the Companies Act, a ‘share’ means a share in the share capital of a company and includes stock. ? It is an ownership security. Types of Shares ? Preference Shares ? Equity Shares: a. Equity shares issued by a Company limited by shares to public or its members [Section 43] b. Sweat Equity Shares [Section 2(68)]Read More
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56 videos|89 docs|68 tests
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