1 Corporation Accounting Introduction
1 Corporation Accounting Introduction
1 Corporation Accounting Introduction
Characteristics of a Corporation
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shareholders.
Advantages of a Corporation
Disadvantages of a Corporation
Types of Corporation
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5. Foreign - a corporation that is organized under the laws of other
countries.
Components of a Corporation
Organizing a Corporation
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1. Promotion – makes preliminary arrangements and solicits
subscription to raise sufficient capital for the business. The
following are the pre-incorporation requirements:
Pre-operating Costs
Pre-operating Expenses
Organization Expense
Organization Costs
Articles of Incorporation
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6. The names of the directors who will serve until their successors
are duly elected and qualified in accordance with the by-laws;
7. The authorized share capital , the classes of shares to be issued
and the number of each class of share indicating the par value if
there is any;
8. The amount of subscription to the share capital , the names of
the subscribers and the number of shares subscribed by each;
9. The total amount paid on the subscriptions and the amount paid
by each subscriber on his subscription.
By-Laws
Kinds of Shares
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2. No Par Value – a share of stock that has no fixed value; it may
not be issued for less than P5.
July 2003