Preparing the financials of a company Preparing the financials of a company involves several steps. Here is a general outline of the process: 1.Collect and Organize Financial Data: Gather all relevant financial information, such as transaction records, bank statements, invoices, receipts, and other supporting documents. Ensure that the data is accurate, complete, and organized… Read More »
Annual Turnover Certificate An annual turnover certificate is a document that provides information about the financial turnover of a business or organization over a specific fiscal year. It verifies the total revenue generated by the company during that period and is often required for various purposes, such as regulatory compliance, loan applications, government contracts,… Read More »
Debentures No, an OPC (One Person Company) not permitted to issue debentures. According to the provisions of the Companies Act, 2013 in India, an OPC restricted from issuing any kind of securities including it. The concept of an OPC is design to facilitate single-person entrepreneurship and to provide limited liability protection to the sole… Read More »
Share capital Liability Share Capital Liability, No, it is not a liability. It is a part of the company’s equity and represents the amount of money that shareholders have invested in the business by buying its shares. Share capital is shown on the balance sheet under the shareholder’s equity section. It represents the… Read More »
Nature of Capital Reduction Account Nature of Capital Reduction Account, It is a special type of account that is create when a company reduces its share capital. The nature of capital reductions accounts is to record the reduction in the company’s share capital, which typically occurs when the company buys back its own shares or… Read More »