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14 B AFM COMPANY ACCOUNTS
What is the meaning of 'company accounts' in the context of corporate financial reporting?
Company accounts refer to the financial statements prepared by a company, including the balance sheet, profit and loss account, and cash flow statement, which reflect the financial position and performance of the entity.
What is 'authorised share capital' in a company's memorandum?
Maximum capital a company is permitted to raise.
What are the two broad categories of share capital shown in a company's balance sheet?
The two broad categories are authorised (registered) capital, which is the maximum capital a company can raise, and issued capital, which is the portion actually offered to the public or shareholders.
What is 'issued share capital' of a company?
Portion of authorised capital offered to the public.
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