Glossary of Advance Accounting Terms for the Job of Accountant & Auditor (Part-II)

PREPARATION FOR NTS, CTS, FPSC, PPSC JOBS FOR BUSINESS STUDENTS

NTS PAST PAPERS MCQs

NTS PAPERS PREPARATION FOR PUNJAB FOOD AUTHORITY JOB 2019
PUNJAB FOOD AUTHORITY PAPERS PREPARATION

Advance Accounting Glossary:

Called up Capital?

A company may require the payment of the per value either in installments or in one lump sum. This amount is known as called up capital.

Un-Called up Capital?

The difference between the subscribed capital and the called up capital is known as UN-called up Capital.

Reserve Capital?

It is the portion of the subscribed capital which the company, through a special resolution, reserve to call in the event of winding up.

Primary Expenses?

These are the expenses which are incurred in the initial stages of incorporation, such as legal fees, remuneration of promoters, cost of preparing and printing of various documents etc.

Accounting Glossary

Book Value of Share?

It is a value of a shares according to the books of accounts of the Company.

Market Value of Share?

It is the value of a share as quoted on the stock exchange. The market value suggests the amount at which the buyer is willing to purchase and the seller is willing to sell a share.

Over Subscription?

Over Subscription means to receive more applications than shares offered to general public.

Under Subscription?

It means to receive less applications than shares offered to general public.

Issue of Shares at Premium?

The amount realized in excess of the per value of share is called premium of shares.

Issue of Share at Discount?

If a share of Rs. 10 is issued for an amount less than Rs. 10, the shares are said have been issued at a discount.

Bonus Shares?

Shares issued to its shareholders by the company from its accumulated profit and reserves, free of cost are known as bonus shares.

Right Issue?

Right Shares are the shares which are issued to the existing shareholders at a specified price during specified period.

Advance Accounting

Debenture?

Debenture includes debenture stock, bonds, term finance certificates and any other securities, other than a share, of a company, whether constituting a charge on assets of the company or not.

Redeemable Debentures?

Those debentures which are repayable at the end of a definite period.

Term Debentures?

When all debentures of an issue mature at the same time, they are called term debentures.

Serial Debentures?

If the maturities of debentures are spread over several dates, they are called Serial debentures.

Redemption of Debentures?

Redemption of debentures mean discharging the liability on account of debentures.

Trading Accounts?

It is prepared to find out the gross profit or loss of a business.

Gross Profit?

Gross profit is the excess of net sales over its cost of goods sold with the involvement of adjustment in stock.

Dividend?

Dividend is a distribution of earning made to shareholders in proportion to the number of shares owned.

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