ACCOUNTING FOR

BUSINESS
AFTERSCHO☺OL
– DEVELOPING CHANGE MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP
PGPSE PROGRAMME –
World’ Most Comprehensive programme in social
entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL

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 ACCOUNTING FOR BUSINESS
Dr. T.K. Jain.
AFTERSCHO☺OL
Centre for social entrepreneurship
Bikaner M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk, www.afterschoool.tk
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Is it necessary to show the value of
fixed assets in the beginning and at
the end of the year with all
additions?

• Yes – as per AS 10

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 At what exchange rate will you
show your fixed assets abroad?
• Exchange rate prevailing at the date of
purchase (AS 11)

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 At what exchange rate will you
show your Monetary assets
abroad?
• Closing date

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 How can you value your
inventories?
• FIFO or Weighted average method (AS 2)
• Absorption costing method

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 A,B,C are partners, B retires. How
much goodwill will B get if on the
date of retirement, the goodwill was
valued at Rs. 30000.?
• Rs. 10000 answer

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 If our company does not receive
minimum subscription, that what is
the period within which we can
refund the money?

• 42 days
• (90% minimum subscription is required).

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 What is the minimum number of
shares that a person can apply?
• As per SEBI guidelines 27/1/2000, it is
200 shares of Rs. 10 face value each.

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 What is the minimum application
form fees on the issue?
• 25% of nominal value of securities. (as
per companies amendment bill 2003

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 What is the minimum period
between 2 calls?
• 1 month

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If issue size is Rs. 200 crores, what
is the maximum period in which
shares can be made fully paid?

• 1 year.

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 If the company delays in refunding
the amount to the applicants (if
shares are not alloted to them),
what is the interest that it has to
pay?
• 15%

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Is it necessary to disclose minimum
subscription?
• Yes, it has to be disclosed in prospectus.
It has to be identified on the basis of
various factors.

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 Is the condition of minimum
subscription also applicable on
rights issue?
• Yes

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 Is the condition of minimum
subscription also applicable on
offer of sale of securities?

• No

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 We have made a 1st call on 10000
shares for Rs. 20 each. All but
owners of 100 shares didn’t make
the payment. What is our closing
balance in first call account?
• Debit balance of Rs. 2000

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 What type of resolution is required
for issue of shares on discount?
• Ordinary resolution with permission from
company law board.

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 Can a company issue shares on
discount before 1 year from
commencement of year?
• No

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We have issued 1000 shares at Rs.
90 (discount of Rs. 10). What is the
balance in our share capital
account?

• 100000 answer.

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 For which purpose we cannot use
share premium?
1. Write off preliminary expenses
2. To pay dividend
3. To write off expenses on commission
paid on shares
4. To pay premium on redemption
5. To pay bonus shares.
SOLUTION:
2 answer.
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 What are the interest rates on call
in arrears and call in advance as
per Table A?

• 5% and 6% respectively.

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 We have 100 shares on which face
value is 100, called up money is 50
paid up money is 25 (Rs. 25 on first
call is due). They are forfeited.
Which account will be debited and
which account credited for how
much amount?
• Share capital A/c Debit : Rs. 5000
• Forfeiture a/c credit Rs. 2500
• First call a/c credit Rs. 2500
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 We are forfeiting 100 shares on
which we have received Rs. 10 as
premium. Now what will be the
entry in premium account

• No entry required.

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 We are forfeiting 100 shares on
which we have given a discount of
Rs. 10. Now what will be the entry
in discount account
• Discount account will be credited with Rs.
1000. answer.

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 What can be the maximum loss on
reissue of forfeited shares?
• Forfeited amount.

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 We has a loss on forfeited shares
of Rs. 10 per share, forfeited
amount is Rs. 30 per shares on 100
shares. What should we do now?

• Transfer Rs. 20 per share (total Rs. 2000)

to capital reserve

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 Where should we show forfeited
amount in balance sheet?
• In balance sheet as addition to capital

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 If the shares are re-issued at
premium, where should premium
go?
• Securities premium account

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 If we reissue shares at a loss,
where should loss go?
• Forfeited shares account.

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 ABOUT AFTERSCHO☺OL
Afterschoool conducts three year integrated PGPSE
(after class 12th along with IAS / CA / CS) and 18
month PGPSE (Post Graduate Programme in Social
Entrepreneurship) along with preparation for CS / CFP /
CFA /CMA / FRM. This course is also available online
also. It also conducts workshops on social
entrepreneurship in schools and colleges all over India –
start social entrepreneurship club in your institution
today with the help from afterschoool and help us in
developing society.

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 Why such a programme?
• To promote people to take up entrepreneurship
and help develop the society
• To enable people to take up franchising and
other such options to start a business / social
development project
• To enable people to take up social development
as their mission
• To enable people to promote spirituality and
positive thinking in the world

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 Who are our supporters?
• Afterschoolians, our past beneficiaries,
entrepreneurs and social entrepreneurs
are supporting us.
• You can also support us – not necessarily
by money – but by being promotor of our
concept and our ideas.

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 About AFTERSCHO☺OL PGPSE – the
best programme for developing great
entrepreneurs
• Most flexible, adaptive but rigorous programme
• Available in distance learning mode
• Case study focused- latest cases
• Industry oriented practical curriculum
• Designed to make you entrepreneurs – not just
an employee
• Option to take up part time job – so earn while
you learn
• The only absolutely free course on internet
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 Workshops from
AFTERSCHO☺OL
• IIF, Delhi
• CIPS, Jaipur
• ICSI Hyderabad Branch
• Gyan Vihar, Jaipur
• Apex Institute of Management, Jaipur
• Aravali Institute of Management, Jodhpur
• Xavier Institute of Management, Bhubaneshwar
• Pacific Institute, Udaipur
• Engineering College, Hyderabad

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 Flexible Specialisations:
• Spiritualising business and society
• Rural development and transformation
• HRD and Education, Social Development
• NGO and voluntary work
• Investment analysis,microfinance and inclusion
• Retail sector, BPO, KPO
• Accounting & Information system (with CA / CS /CMA)
• Hospital management and Health care
• Hospitality sector and culture and heritage
• Other sectors of high growth, high technology and social
relevance

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 Salient features:
• The only programme of its kind (in the whole world)
• No publicity and low profile course
• For those who want to achieve success in life – not just a
degree
• Flexible – you may stay for a month and continue the rest of
the education by distance mode. / you may attend weekend
classes
• Scholarships for those from poor economic background
• Latest and constantly changing curriculum – keeping pace
with the time
• Placement for those who are interested
• Admissions open throughout the year
• Latest and most advanced technologies, books and study
material

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 Components
• Pedagogy curriculum and approach based on IIM Ahmedabad and ISB
Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)
• Meditation, spiritualisation, and self development
• Essential softwares for business
• Business plan, Research projects
• Participation in conferences / seminars
• Workshops on leadership, team building etc.
• Written submissions of research projects/articles / papers
• Interview of entrepreneurs, writing biographies of entrepreneurs
• Editing of journals / newsletters
• Consultancy / research projects
• Assignments, communication skill workshops
• Participation in conferences and seminars
• Group discussions, mock interviews, self development diaryng
• Mind Power Training & writing workshop (by Dr. T.K.Jain)

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 Pedagogy
• Case analysis,
• Articles from Harvard Business Review
• Quiz, seminars, workshops, games,
• Visits to entrepreneurs and industrial visits
• Presentations, Latest audio-visuals
• Group discussions and group projects
• Periodic self assessment
• Mentoring and counselling
• Study exchange programme (with institutions out of
India)
• Rural development / Social welfare projects
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 Branches
• AFTERSCHO☺OL will shortly open its
branches in important cities in India
including Delhi, Kota, Mumbai, Gurgaon
and other important cities.
Afterschooolians will be responsible for
managing and developing these branches
– and for promoting social entrepreneurs.

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 Case Studies
• We want to write case studies on social
entrepreneurs, first generation
entrepreneurs, ethical entrepreneurs.
Please help us in this process. Help us to
be in touch with entrepreneurs, so that we
may develop entrepreneurs.

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Basic values at AFTERSCHO☺OL
• Share to learn more
• Interact to develop yourself
• Fear is your worst enemy
• Make mistakes to learn
• Study & discuss in a group
• Criticism is the healthy route to mutual support
and help
• Ask fundamental questions : why, when, how &
where?
• Embrace change – and compete with yourself
only
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 www.afterschoool.tk
social entrepreneurship for better
society

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