Company Accounts – I | Company Accounts – II | PAPER III – ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS | MODULE B: FINANCIAL STATEMENTS AND CORE BANKING SYSTEMS
Company Accounts – I & II Company Accounts – I & II Company Accounts – I Definition and Types of Companies A company is a legal entity formed under the Companies Act, having a distinct identity separate from its members. Types of companies include: Private Limited Company : Restricts the right to transfer shares and limits members to 200. Public Limited Company : Can raise capital from the public and has no upper limit on members. One Person Company : Single-member company under specific legal structure. Distinction between Partnership and Limited Liability Company Particulars Partnership Company Legal Status No separate legal entity Separate legal entity Liability Unlimited Limited Registration Optional Mandatory Transferability Restricted Freely transferable in public company Classes of Share Capital Authorized Capital : Maximum amount company can raise via share issue. Issued Capital : Portion offered to inv...