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Accounting for Share Capital — Study Plan

Gujarat Board · Class 12 · Elements of Accounts

A step-by-step study plan for Accounting for Share Capital, Gujarat Board Class 12 Elements of Accounts: what to learn first, what to practise and when.

2 formulas & key relations5 concepts

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Study Plan

1
Day 1–2

Learn the Theory

Read the textbook chapter carefully. Note down definitions, formulas and key ideas. Focus on: Types of Companies and Shares, Types of Share Capital, Steps for Issue of Shares and Methods of Issue.

2
Day 3

Practise

Solve the textbook exercises and extra practice questions.

3
Day 4

Revise & Test

Revise key points without looking at your notes. Take a practice quiz and mark weak areas for another pass.

4
Day 7

Spaced Revision

Come back to Accounting for Share Capital after a week. Use flashcards for quick recall and try past exam questions on this chapter.

What to Focus On

  • Statutory companies are created by legislature; registered companies are formed under Companies Act.
  • Private company: max 200 members, restricts share transfer, prohibits public subscription.
  • Public company: minimum 7 members, no maximum limit, can invite public to subscribe.
  • Share = smallest unit of company's capital; has a distinctive number; movable and transferable.
  • Two types of shares: Preference Shares and Equity Shares.
  • Preference shareholders get priority in dividend and capital repayment.
  • SEBI replaced Capital Issues (Control) Act, 1947 from 1991 onwards.
  • Application money: minimum 5% of face value (Companies Act) or 25% of issue price (SEBI).
  • Over subscription: applications > issued shares; excess money is refunded.

Common Mistakes to Avoid

Calls-in-Arrears means the same as Calls-in-Advance — both are just unpaid amounts related to share calls.

Securities Premium is a Revenue Profit and can be used to pay dividends to shareholders.

When shares are forfeited, the entire amount that was called up on those shares is debited to Share Capital Account.

Memory Tips

Types of Companies — Private vs Public

Preference Shares vs Equity Shares — priority of dividend and repayment

Types of Share Capital — Authorised, Issued, Subscribed, Called-up, Paid-up

Authorised Capital is the maximum capital

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Frequently Asked Questions

What are the important topics in Accounting for Share Capital for Gujarat Board Class 12 Elements of Accounts?
Key topics in Accounting for Share Capital include Types of Companies and Shares, Types of Share Capital, Steps for Issue of Shares and Methods of Issue, Share Capital Transactions and Accounting Entries. Study these first, then practise questions on each for the Gujarat Board Class 12 board exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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