Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

Accounting for share capital

jrmchess (na) (197 Points)

10 March 2012

guys I am a non commerce student and I am finding the cost and mgt accounts paper in CS a bit tough, especially the chapters on share capital accounting where we have to write jounal entries. I have done mba in finance but we have never studied accounting in depth. I know only the basics of accounting and find writing journal entries and ledger accounts a little difficult. Can you suggest some good books or websites which can make me understand it?

Reply
Follow
Share

5 Replies

(Guest)

Read 11&12 class accountancy book as it will built your base.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

jrmchess (na) (197 Points)
Replied 10 March 2012

Originally posted by : Manish
	Read 11&12 class accountancy book as it will built your base.

but do they cover share capital accounting? I am familiar with the basics of writing journal entries but I need to understand the various ledger accounts involved in share capital accounting. I don't understand which accounts need to be debited/ credited in case of accounts like share capital a/c, allotment a/c, redemption shares a/c, etc...

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 10 March 2012

Totally agree with the suggestion of Manish. 11 and 12th book contain the basics of share capital accounting.

You may also take help or 2-3 days classes of any teacher who is teaching 11-12 students.

He'll make you understand the concept easily.

Regards

1 Like

jrmchess (na) (197 Points)
Replied 11 March 2012

Can someone please explain whether these accounts: Share Application A/c, Share Allotment A/c, Call in Arrears A/c, Calls in Advance A/c are Personal, Real or Nominal? I am really getting confused on when to credit them and when to debit them... I had read that the Share Application A/c is a personal a/c but whenever we transfer money from this a/c to share capital a/c or share allotment a/c we debit the a/c rather than credit it even though money is flowing out of it. Why is it so?