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Before understanding the Difference between Public and Private Company, we should understand the both concepts. PUBLIC COMPANY Public Company is the company which can be incorporated with zero paid up capital as per the Companies Act (Amendment), 2015.This is the company which can start its business with minimum 7 members. Public company has to get…
MEANING Private Company is the company which can be incorporated with zero paid up capital as per the Companies Act (Amendment), 2015. This is the company which can start its business with minimum 2 members. It has to get registered with the Registrar of companies and required to obtain the Certificate of Incorporation to start…
PUBLIC COMPANY Public Company is the company which can be incorporated with zero paid up capital as per the Companies Act (Amendment), 2015.This is the company which can start its business with minimum 7 members. It has to get registered with the Registrar of companies and required to obtain the Certificate of Incorporation and Certificate…
ONE PERSON COMPANY A One Person Company (OPC) is a company that is owned and controlled by only one person. The person is the only shareholder of the company. The company has a separate legal identity from its owner. In simple words, one person can start and run a company with the legal status of…
PRICE ELASTICITY OF DEMAND Price Elasticity of demand is the rate at which quantity purchased changes with the change in price. It is the ratio of percentage change in quantity demanded to percentage change in the price of the commodity, other factors remaining the same. There are three methods for measurement of Price Elasticity of…
ACCOUNTING STANDARDS Accounting standards may be defined as written statements, issued from time to time by institutions of accounting professionals, specifying uniform rules or practices for drawing the financial statements. ACCORDING TO KOHLER “Accounting standards are code of conduct imposed on accountants by custom, law or professional body.” Accounting standards mainly deal with four major…
MEANING Price Elasticity of demand is the rate at which quantity purchased changes with the change in price. It is the ratio of percentage change in quantity demanded to percentage change in the price of the commodity, other factors remaining the same. Ed= (-) Percentage change in quantity demanded/ Percentage change in price ACCORDING TO…
TYPES OF COMPANIES Company is an artificial person created by the law for some common purpose where the capital is divisible into parts known as shares with perpetual succession and common seal. The various types of companies are as follows: ON THE BASIS OF FORMATION On the basis of formation, the companies are of following…
Difference between Accounting Concepts and conventions Before understanding the Difference between Accounting Concepts and Conventions, the both concepts should be known. ACCOUNTING CONCEPTS The Accounting Concepts are the foundation of the accounting. These concepts are the assumptions which are generally accepted and followed while performing the recording of transactions and preparation of final accounts. The…
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Difference between capital and revenue receipt Before understanding the Difference between Capital and Revenue Receipt, the concept of capital receipt and revenue receipt must be known: CAPITAL RECEIPT Capital receipt is the amount received by the enterprise which is not revenue in nature and leads to an overall increase in the total capital of the…
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