财务会计教学-PPT课件

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• Proprietary companies
Limited membership Restrictions on raising funds Large vs small distinction is common
5
Key features of the corporate structure
9
Receipt of application monies
• On receipt of application monies:
Cash trust Dr Application Cr (Monies received $x per share) y
Preference shares:
• Preferential as to the payment of dividends and / or as to a return of capital in a winding-up. • Holders are entitled to a fixed annual rate of dividend. • Accounting entries are the same in both issues – ordinary and preference.
3
Objectives
• Distinguish between different forms of corporate entities. • Distinguish between different type of shares. • Account for share issues fully payable on application and by installments. • Account for oversubscriptions. • Account for share forfeiture and reissue.
Lecture 1
Shareholders’ Equity (Part 1)
2
COMMONWEALTH OF AUSTRALIA COPYRIGHT REGULATIONS 1969 WARNING
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Cash Trust (for monies received before shares are issued/allotted) Application Share Capital Call (if payable by 2 or more instalments) Cash Calls in Advance
8
Accounting for share issues
• No accounting entries are prepared when the invitation to subscribe is made • Accounting commences on receipt of application forms and monies • Accounts involved:
• A company is a legal entity • Limited liability • Share capital ledger account reflects the company’s ownership
Each share represents a proportional right to the company’s net assets Companies can issue different types of shares
e.g. ordinary or preference shares
6
Types of shares
Ordinary shares:
• Most basic and common type. • Payment of dividends rank after preference shareholders.
4
Types of companies
• Listed vs unlisted • Limited, unlimited, vs no-liability • Public companies
Ownership is widely spread Many company law provisions are directed at public companies
7
Issue of public company shares
• • • • A prospectus is required for a public issue. Minimum subscription may be required. Issue can be underwritten. Share issue costs are treated as a reduction in share capital (Dr Share issue costs). • What if the issue is oversubscribed? • Shares issued may have a par value or no par value.
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