Company Financial Statements Flashcards Preview

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Flashcards in Company Financial Statements Deck (5)
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1
Q

Public Company

A

Plc - shares available to the general public

2
Q

Private Company

A

Ltd - shares not available to the general public

3
Q

Preference shares

A

Redeemable: repayable by the company. Treat like debt
Irredeemable: not repayable by the company: treat like equity

4
Q

Share capital values

A

Nominal value is £1

Issue price is at least the nominal value

5
Q

Provision

A

A liability to a third party where either the amount or the timing of the payment is not yet certain.