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Joint Stock Accounts : Issue of Share — Study Plan

ICSE · Class 12 · Accountancy

A step-by-step study plan for Joint Stock Accounts : Issue of Share, ICSE Class 12 Accountancy: what to learn first, what to practise and when to revise.

45 questions39 flashcards4 formulas & key relations5 concepts

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An infographic illustrating the main features of a company: Separate Legal Entity, Limited Liability, Perpetual Succession, Common Seal, Transferability of Shares, and May Sue or be Sued. Each feature
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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: 1. Meaning of Company, Share and Types of Shares, 2. Classification of Companies, 3. Share Capital and Its Types.

2
Day 3

Practise

Solve the textbook exercises and extra practice questions. There are 45 questions available for this chapter.

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 Joint Stock Accounts : Issue of Share after a week. Use flashcards for quick recall and try past exam questions on this chapter.

What to Focus On

  • A company has a separate legal identity.
  • A share is a unit of share capital.
  • Shares are movable property and transferable according to the Articles.
  • Authorised capital is the maximum capital a company can raise.
  • Issued capital is the part offered to the public or vendors.
  • Subscribed capital is the part actually applied for and allotted.
  • Par means face value.
  • Premium means issue price is above face value.
  • Discount means issue price is below face value.

Common Mistakes to Avoid

Shares issued at discount are allowed for the general public if the company wants to attract more investors.

Whenever shares are issued at premium, Securities Premium Reserve Account is automatically created only after cash is actually received later.

Calls-in-Advance and Calls-in-Arrears are the same kind of unpaid amount.

Memory Tips

Types of shares under Section 43

Kinds of share capital in order

Reserve capital versus capital reserve

Calls-in-arrears and calls-in-advance

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Frequently Asked Questions

What are the important topics in Joint Stock Accounts : Issue of Share for ICSE Class 12 Accountancy?
Key topics in Joint Stock Accounts : Issue of Share include Meaning of Company, Share and Types of Shares, Classification of Companies, Share Capital and Its Types, Issue of Shares: Modes, Price and Legal Rules. Study these first, then practise questions on each for the ICSE Class 12 board exam.
How should I revise Joint Stock Accounts : Issue of Share for the ICSE Class 12 board exam?
Learn the core ideas first, then work through the 45 practice questions on Joint Stock Accounts : Issue of Share. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

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

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