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Sometimes a company purchases assets from vendors and instead of making payment in cash issues debentures for consideration thereof.Sometimes a company purchases assets from vendors and instead of making payment in cash issues debentures for consideration thereof.Sometimes a company purchases assets from vendors and instead of making payment in cash issues debentures for consideration thereof.Sometimes a company purchases assets from vendors and instead of making payment in cash issues debentures for consideration thereof.Cost accounting assists in analysing the expenditure for ascertaining the cost of various products manufactured or services provided by the firm and fixation of prices thereof.Such consistency is required throughout the process of identifying the events and transactions to be accounted for, measuring them, communicating them in the book of accounts, summarising the results thereof and reporting them to the interested parties.As discussed in the previous chapter, accounting is concerned with the recording, classifying and summarising of financial transactions and events and interpreting the results thereof.Sometimes a company purchases assets from vendors and instead of making payment in cash issues debentures for consideration thereof.In 1941, The American Institute of Certified Public Accountants (AICPA) had defined accounting as the art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof'.Sometimes a company purchases assets from vendors and instead of making payment in cash issues debentures for consideration thereof.Share Capital: It is the first item on the liabilities side of the balance sheet and shows details of authorised capital, and issued and paid-up capital in terms of the number and amount of each type of share, and so also the amounts of calls in arears and the forefeited shares as explained Chapter This item includes various reserves such as capital reserves, capital redemption reserves, balance of securities premium account, general reserve, credit balance of profit and loss account, and other reserves specifying the nature of each reserve and the amount in respect thereof including the additions during the current year.Sometimes a company purchases assets from vendors and instead of making payment in cash issues debentures for consideration thereof.Sometimes a company purchases assets from vendors and instead of making payment in cash issues debentures for consideration thereof.Hence, we have to first ascertain the causes of difference thereof and then reflect them in a statement called Bank Reconciliation Statement to reconcile (tally) the two balances.While dividends are tax free in the hands of shareholders, the company has to pay tax on dividends declared at the prescribed rate which is termed as 'Corporate Dividend Tax' and a provision has to be made thereof.

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