...Issue of Shares MODULE - 5 Accounting for Shares and Debentures 23 ISSUE OF SHARES Notes In the preceding lesson you have studied about the company, its meaning, characteristics and its various types. You are also familiar with share capital, and its various kinds. Share capital is one of the main sources of finance for a company. In this lesson we shall study the procedure of issuing shares for raising capital and its accounting treatment in the books of the company. OBJECTIVES After going through this lesson you will be able to explain the procedure of isssuing shares; explain that the share money may be called in lump sum or in two or more instalments; state that shares may be issued at par, at premium, and at discount; make journal entries to record the isssue of shares; explain the terms calls in arrears and calls in advance. 23.1 PROCEDURE OF ISSUE OF SHARES Face value of a share is the par value of the share. It is also known as the Nominal value or denomination of a share. To issue shares a company follows a definite procedure which is controlled and regulated by the Companies Act and Securities Exchange Board of India (SEBI). There are different ways of issue of shares which may be: (A) For consideration other than cash (B) For cash (A) Issue of shares for consideration other than cash Sometimes shares are issued to the promotors of the company in lieu of the services provided by them during the incorporation of the 255 ACCOUNTANCY MODULE - 5 ...
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...Is money laundering a real problem in the world today? Ashford University By: A’ Lexis Gailes BUS670: Legal Environment Professor Robert Tocker May 25, 2014 Abstract Money laundering the process whereby the proceeds of crime are transformed into apparently legitimate money or other assets has been recognized as a criminal activity which causes serious social and economic damages. The traditional method of money laundering is through financial institutions. However, with the development of new science and technology the approaches of money laundering have become more and more diverse. This paper is discussing the legal and ethical issues which surround this topic, as well as, develop an analysis for the ethical concerns raised by the laundering of money. The writer will then provide explanations from at least three relevant areas of law that have been discussed throughout the course and assess each area as it applies to money laundering. Finally, the write will provide recommendations on this situation to reduce liability exposure and improve the ethical climate or the overall ethics of money laundering. Is money laundering a real problem in the world today? I. Introductions There are many ethical issues that can arise in the course of operating a small business. A comprehensive understanding of the different types of ethical issues will help you to identify and handle this situation’s responsibility to maintain core business values. Let’s look at this scenario...
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...Skies The Limit? The exploration of space VS The issues on earth. Aileen Johnson English Composition Introduction We live in a world where there are environmental issues that range from global warming to air pollution. Environmental scientists dedicated themselves by putting years and years into finding a long-term solution for these issues. The effects of these issues can potentially be damaging in the next couple of decades so people live I fear of what is to come. This same fear prevents people from thinking outside of the box. We came so far in the mist of our issues that it almost seems unfixable. With new technology today we have various ways for exploring outside our world to find new ways to make life on earth a little easier. Since issues on earth are still in effect, people’s fear of what is to come in the future prevent them from becoming aware of how exploring outside this world in space can actually benefit us all, and how important it is to our planet earth. Although there are many environmental issues on earth, outer exploration should continue to be funded. Outer space exploration may be needed in the future to prevent or solve new issues on earth to come. Oblivious To the Benefits There are many benefits to outer space exploration that people are aware not of. Before I decided to do research I was unaware of the number of things that we actually use today that would have never...
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...Any campaign finance reform must be structured within the framework of the Constitution. When examining the role of the government in situations of participation in political processes, the role as the protector of rights and privileges as identified in the Constitution must be weighed against its role as a regulator of the political process. A primary principle of the First Amendment is to protect and encourage the rights of individuals and organizations to participate in our civic process (Federal Campaign Finance Law). This right to be involved in the political system is an important privilege and should not be taken lightly. Any campaign finance reform must be structured within the framework of the Constitution. Disclosure requirements are observed as means to deter corruption by requiring that contributions made to elected officials and candidates are made public in federal elections. Disclosure allows voters to make up their own minds based on the information that is placed before them. Supreme Court Justice Louis Dembitz Brandeis believes, “Publicity is justly commended as a remedy for social and industrial diseases. Sunlight is said to be the best of disinfectants, electric light the most efficient policeman” (Brandeis, 97). Brandeis’ statement laid the groundwork of the Sunlight Foundation, which was founded on the idea that utilizing new technology to facilitate citizens with information concerning Congress, will lead to the reduction of corruption, ensure...
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...Holmes and his friends made money the wrong way by deceiving people (page 42-43). Him and his friends made money by faking the deaths of a family of three, finding three corpses that resembled the family members, and then collecting the death benefits. In other words they defrauded the insurance companies, and they mostly did this to collect life insurance money. This is economical example, because Holmes and his friends were in need of money and they chose this way to make the money, and divide it among themselves. Holmes decides to build a hotel for visitors that are visiting the world’s fair (page 85). His intentions for this hotel is to make money and also be able to kill his victims. He wanted to collect the insurance by burning the building and also burn the evidence....
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...Imagine a world where the required age for retirement is well over seventy-five. A world where senior citizens, who have been paying money towards their retirement all of their working lives, do not see a return on their investment and are forced to keep working just to eat. This future sounds farfetched, but unfortunately, it is the direction our nation is heading if no reforms are made to our Social Security system. Rising healthcare and living costs, along with an unbalanced worker to retiree populace, have begun to deplete the once trusted mode for retirement. If no resolve is reached, the Millennial generation will be forced to come up with their own ways of saving for retirement like collecting change. The depletion of our Social Security system is my generation’s most severe issue because there may not be enough money to take care of senior citizens into retirement age. Signed into effect August 14, 1935, the Social Security Act insures senior citizens monetary stability after their retirement. The way this system operates is the working class pays a partial tax on their income to the government, who then allocates the money for those who have retired. Essentially, the generation that is currently working will pay for the generation that has retired. A retiree will receive benefits such as coverage for disability and monthly payments given as a source of income for those who do not or cannot work. In today’s society and economy, retirees heavily rely on the compensation...
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...Privatization of Healthcare In Canada the population has free health care. The issue that has begun popping up is the problem that the companies and the government wants to start privatizing health care, meaning the companies want the control over all things concerning the health care system. Over time owners of healthcare services wanted to start making money, money has always been a huge factor in extremely important decisions. The most important influencing factor in this issue is of course money, it is understandable that money is an influencing factor but making money off of the people’s ailments is very scary, even though almost all other countries already don't have free healthcare, hundreds of thousands of the immigrants are here...
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...education system in Indiana. There is a constant strain in system about how much money is being made and how they can make more. There is also the issue of budgeting. School corporations are trying to divvy up money to different schools. There’s a lot to pay for. And money seems to be one of the biggest problems (Cavazos). Other issues are the abundance of students in our schools (Public Education). “Our school system does not accommodate the needs of our students or teachers,” Tiffany Dix says. In short, the Indiana school system has many flaws. I feel the the school system is more flawed than perfect. It has problems with money, hiring, and testing (Public Education). However, there...
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...KULIYYAH OF ECONOMICS AND MANAGEMENT SCINECES | ISLAMIC ACCOUNTING AND FINANCE | MASTER OF SCIENCE (FINANCE) | ACC6810 | ACCOUNTING IMPLICATIONS OF JIONT MUDARABAH (MUDARABAH MUSHTARAKAH) SUBMITTED TO: Prof. Dr. Abdul Rahim Abdul Rahman Basheer Hussein Altarturi G1111009 Semester 1 2012 Contents 1 Introduction 3 2 Mudarabah in a Traditional Viewpoint 4 2.1 Traditional Mudarabah; an Overview 4 2.2 Business Issues in the Traditional Mudarabah 5 3 Introduction to the Joint Mudarabah (Mudarabah Mushtarakah) 6 3.1 The Joint Mudarabah (Mudarabah Mushtarakah) Concept 6 3.2 Main Features of the Mudarib Mushtarak 8 3.2.1 The Conditions Issue 8 3.2.2 Capital Guarantee Issue 8 4 Accounting Issues in Mudarabah Contract 9 4.1 Profit Distribution 9 4.2 Reporting and Presentation 12 4.3 Agency Problem 13 5 Conclusion 14 6 Bibliography 16 Introduction Islamic banking and finance (IBF) emerged as an alternative from conventional banking and finance. IBF are different from conventional banking and finance as their objectives, operations, principles and practices must compliance with Islamic ethics and Islamic law (Shari’ah). Among other things, Shari’ah prohibits dealing in interest (riba), gambling and undertaking speculative transactions which subject matter and outcome are unknown (gharar), while it requires transactions to be lawful (halal). Therefore, IBF have tended to modify the conventional banking and finance...
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...Ethical Issues – Bill Services There are many ethical issues going on with Bill that will affect his business and our firm legally and financially. Here are some of the issues: 1) He is planning on filing for divorce. His wife, Rotunda is a large and violent woman who has spent every penny Bill has made over the years. She has a moustache, missing a few front teeth and generally not a nice person. Ethical issues: Bill and Rotunda’s marriage seemed to change after the birth of their last child. Rotunda’s personality changed and she even put on extra weight. Rotunda continued to spend every penny of her husband’s hard earned money. Ethically, he has every right to want to file for divorce. Bill using the fact that she has a moustache and missing teeth are not a factor here. The mention of Rotunda being violent could be an issue as the divorce proceedings are under way. Choosing to divorce a person should be based on something that isn’t going quite right. You do not need to have a specific reason at all to request a divorce, but most states do have the option of using one of the grounds for divorce as your reason. Having one of these reasons can help your case, but if the two of you are not happy, then a no fault divorce would be the way to go. You are both on level ground and can go your separate ways without your record being tarnished. Choosing to get a divorce is not always an easy decision for...
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...Peter’s argument is this “The formula is simple: whatever money you’re spending on luxuries, not necessities, should be given away”. This would have everyone in the world not in poverty donating one third of all wealth to poverty, as that is the average percentage of money spent on luxuries per the average family or person. The pros of this argument would be equalization of the economy and the curing of poverty. The cons of Peter Singer’s argument are taking...
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...A private company can seek funding from several potenNal sources: • Angel Investors • Venture Capital Firms • InsNtuNonal Investors • Corporate Investors 14.1 Equity Financing for Private Companies • Angel Investors: – Individual investors who buy equity in small private firms – The first round of outside private equity financing is oSen obtained from angels 14.1 Equity Financing for Private Companies • Venture Capital Firms: – Specialize in raising money to invest in the private equity of young firms – In return, venture capitalists oSen demand a great deal of control of the company Figure 14.1 Most AcNve U.S. Venture Capital Firms in 2009 (by Number of Deals Completed Figure 14.2 Venture Capital Funding in the United States 14.1 Equity Financing for Private Companies • InsNtuNonal Investors: – Pension funds, insurance companies, endowments, and foundaNons • May invest directly ...
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...Money market in India is the money market for short-term funds with maturity ranging from overnight to one year in India including financial instruments that are deemed to be close substitutes of money Instruments in Money market Commercial paper An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities. Maturities on commercial paper rarely range any longer than 270 days. The debt is usually issued at a discount, reflecting prevailing market interest rates. Usually done by companies having high credit worthiness and rating Call money/Notice money/term money The money market primarily facilitates lending and borrowing of funds between banks and entities like Primary Dealers (PDs). Banks and PDs borrow and lend overnight or for the short period to meet their short term mismatches in fund positions. This borrowing and lending is on unsecured basis. ‘Call Money’ is the borrowing or lending of funds for 1day. Where money is borrowed or lend for period between 2 days and 14 days it is known as ‘Notice Money’. And ‘Term Money’ refers to borrowing/lending of funds for period exceeding 14 days. Tbills Treasury bills are circulated by the primary as well as the secondary markets. The maturity periods for treasury bills are respectively 91,182, 364 days. The price with which treasury bills are issued comes separate from that of the face value, and the face value is achieved...
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...An issue that was brought up in my family was my sister having anxiety about the future. I think this issue could require solution focused therapy. For instance, my sister may benefit from the miracle question, such as if she woke up and her anxiety was gone what would that look like? This question may help her with identifying her goal and identify her issue. In addition, solution focused in therapy will consist of looking at positive exceptions in therapy. Positive exceptions will involve my sister exploring patterns relation to anxiety for example, describing the times when she does not experience anxiety. Scaling will also be helpful for my sister, such as on a scale of one to ten what is her anxiety. Furthermore, how can she move that anxiety level to a lower rating on a one to ten scale? I think by exploring the rate of her anxiety my sister will be aware that she can control...
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...Name : Franklin Imanuel Supit ID : 3241722 INDIRECT ELECTION FOR THE REGIONAL ELECTIONS IN INDONESIA Primary Source * Based on The 1945 Constitution of the Republic of Indonesia, Chapter VI , Article 18, Clause 4 (Regional Authorities) : “ Governors, Regents, and Mayors, respectively as head of regional government of the provinces, regencies and municipalities, shall be elected democratically.” This legislation can be accessed in the www.mahkamahkonstitusi.go.id or www.dpr.go.id. It is the highest constitution in Indonesia that substantiates the Indonesian values and laws. It is the 4th amended constitution that is relevant to this law issue. I located the legislation by entering the website of Indonesian Constitutional Court (Mahkamah Konstitusi) and I searched it by typing the keyword “1945 constitution” in the search engine and downloaded the pdf file on 15 September 2015. * Based on Act number 32 of 2004, Article 56 and number 22 of 2007, Article 1 concerning The Conduct of General Elections, which essentially state: “The regional election in the provinces, regencies and municipalities, herein after is referred to as the Election of regional heads, which is conducted in a direct, free, and fair way in the Unified State of the Republic of Indonesia based on Pancasila and the 1945 Constitution of the Republic of Indonesia.” These legislations support each other in substantiating the mechanisms of regional elections and provide the basic frameworks...
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