What is in Corporate Accounting .
Do you know what is in corporate accounting . Corporate means any joint stock company which is registered with Indian company act or any other countries company law and accounting is making and maintaining the accounts . So Simply corporate accounting is maintaining the accounts of any company which is registered under Company law of any country. So , these accounts are related to govt. or private companies .This companies also classified in Indian Companies and foreign companies . In Company , accounting activity starts when application money is received by company accountant . So this is the duty of company accountant that these money must be enter in computer voucher entries . Some time it can be refund then it can be enter in memorandum voucher of tally 7.2 or 9 .
Some time if application are received from demanded number then pro rata basis we can record . It means any person who apply for 20000 shares and we give only 10000 shares then we adjust his 20000 share application money with allotment time and call money . For this some share holder get full allotment , some gets only some part and some get nothing shares . If any shareholder get nothing shares then it is the duty of company accountant to refund his application money.
Forfeited shares .
It is also difficult accounting treatment . Because its only voucher or journal entry is difficult . So you must learn this .
Share Capital Account Debit with call money
Share Allotment account debit with money not received
Share calls account debit with money not received
Share forfeited account Credit with received money.
Some time if application are received from demanded number then pro rata basis we can record . It means any person who apply for 20000 shares and we give only 10000 shares then we adjust his 20000 share application money with allotment time and call money . For this some share holder get full allotment , some gets only some part and some get nothing shares . If any shareholder get nothing shares then it is the duty of company accountant to refund his application money.
Forfeited shares .
It is also difficult accounting treatment . Because its only voucher or journal entry is difficult . So you must learn this .
Share Capital Account Debit with call money
Share Allotment account debit with money not received
Share calls account debit with money not received
Share forfeited account Credit with received money.
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