Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XV. Accounts

Collection:: Economics Books

Issues of Capital. [72 SECRETARIAL PRACTICE accounts of a large trading concern which may be held to reflect upon the work of the secretary in his primary capacity of chief official, and as the focussing point under the directors of the whole of the concerns of his company. There are of course other matters of account in which the fully equipped secretary will be interested, even if the magnitude of his company makes it impracticable for him to take any active part in the book-keeping. These matters of account are those dealing with the company as a legal entity, such as, for example capital and dividend accounts. The secretary of a large company will find that calculating machines are an essential part of office equipment. A company having decided to issue the whole or part of the authorised capital, the necessary board minutes and arrangements for the issue will be made, and it will then be the duty of the secretary to see that the money for the shares is paid into the banking account of the company, and he will first of all collect the amount due from the original subscribers, and when this is paid into the company’s banking accounts, it will, in the ordinary way, be entered in the share cash book. A separate account must be opened at the bankers called Share Capital—Application Account,” and the application forms will be collected day by day from the bank, agreed with the pass book, and entered in detail in a share cash book. If the issue has been over-subscribed, the surplus amount will remain to the credit of the ‘Application Account’ until after allotment, when it will be transferred to the ‘Allotment Account” and credited to the individual sub- scribers in respect of amounts payable on allotment. As soon as the allotment letters have been posted, an account will be opened at the bank called ‘Share Capital: Allotment Account.’ The amounts received on allotment, and subsequently the amounts received on calls, will ‘be dealt with in the same manner as in the case of amounts received on applications. In dealing with issues of debenture stock, the same methods will apply. In the case of debenture stock, if, as is often the case, the trust deed has not been executed and the security completed before the issue is made, the trustees for stock holders generally insist that moneys received from the subscribers should remain under the control of the trustees until the security has been constituted. In the event of shares being issued at a premium, or of a commission being paid on their issue, or of debentures being issued at a discount or at a premium, the amount of the in- stalment will vary. In the case of an issue at a discount, where the debentures are terminable and repayable at par,

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