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SEMESTER FALL 2014 FINANCIAL ACCOUNTING-II (MGT401) ASSIGNMENT NO. 01 DUE DATE: December 03, 2014

SEMESTER FALL 2014 FINANCIAL ACCOUNTING-II (MGT401) ASSIGNMENT NO. 01 DUE DATE: December 03, 2014 MARKS: 20 Learning Objectives To give the students in depth knowledge of process of incorporation of new company and to make them realize that how process devised by security and exchange commission of Pakistan (SECP) can be followed in real time situation. Learning Outcomes Students will be able to get comprehensive knowledge about new company incorporation procedure, requirement of documents and online method given by SECP. Case Assignment question is regarding formation and registration of company under companies’ ordinance 1984. Different scenarios are given and you are required to give proper treatment of these situations with respect to companies’ registration process devised by security and exchange commission of Pakistan (SECP). Mr. M. Gulzar is sole owner of a foundry business. With his determination and hardworking attitude, he managed to make his business profitable and expand it at large scale. As foundry is second largest industry of Pakistan and there is great opportunity to avail. Mr. M. Gulzar who is sole owner is working on different options (going public, single member company, Pvt Company etc.) all have their pros and cons. REQUIREMENTS: (3+3+3+3+08) • If Mr.M.Gulzar decided to avail any one option listed above how much time it will take to complete registration with SECP assuming all other procedures are completed? (03 Marks) • Is there any certificate needed prior to incorporate the Pvt Ltd Company, if yes, from which Government department/Mistry Mr.M.Gulzar will take permission? (03 Marks) • Mr.Gulzar thinking about name if he decides to go publicly that is “Askari Foundry”. Is this name is allowed by SECP, if not why and if yes why? (03 Marks) • Precisely give the online procedure of registration of Company for Mr. M. Gulzar with SECP. (03 Marks) • How private company is different form Public company in term of ‘requirements after incorporation’? Provide table of analysis for differentiation. (08 Marks) IMPORTANT: 24 hours extra / grace period after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience. OTHER IMPORTANT INSTRUCTIONS: DEADLINE: • Make sure to upload the solution file before the due date on VULMS. • Any submission made via email after the due date will not be accepted. FORMATTING GUIDELINES: • Use the font style “Times New Roman” or “Arial” and font size “12”. • It is advised to compose your document in MS-Word format. • You may also compose your assignment in Open Office format. • Use black and blue font colors only. REFERENCING GUIDELINES: • Use APA style for referencing and citation. For guidance search “APA reference style” in Google and read various website containing information for better understanding or visit http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html RULES FOR MARKING Please note that your assignment will not be graded or graded as Zero (0), if: • It is submitted after the due date. • The file you uploaded does not open or is corrupt. • It is in any format other than MS-Word or Open Office; e.g. PowerPoint, PDF etc. • It is cheated or copied from other students, internet, books, journals etc. Note related to load shedding: Please be proactive Dear students! As you know that Pre Mid-Term semester activities have been started and load shedding problem is also prevailing in our country now a days. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.

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Replies to This Discussion

Please Discuss here about this assignment.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

koi hy mgt401 mgt402 cs507 sta630 mgt611 mgt502 ki assignment wala plz help me 6 assignment due date 4dec 

Muhammad Shahid Javed  email & cell no sharing is not allowed at the site.thanks for understanding

Koi Discuss q nhi kr rha :( 

Mjy to assignment ki kch smj e nhi arhi hy :(

apko bs SECP k rules batany hai jo company start krty wakt hoty hai.

Dear Frnds,  assignment tw bht asan ha bs tora sa tym dyna pare ga , hme sirf company ki registration ka process btana ha by SECP, so handout k page 4 ka last topic which is FORMATION OF COMPANIES ap ki help kr skta ha bs ic ko goor sy parhy, or requirment mai puchy sawl ka jawb dy dy or agr phr bi msla ha tw upload file zror ap ki help kre ge 

THANK YOU and best of luck

Regards, 

IQRA

Attachments:

thanks :)

Please visit e-services section for the solution of question no.4 (Online registration).

http://www.secp.gov.pk/

For first three questions read chapter no.1 & 2. Answers are there. 

Secondly, last question ka answer google say search karein aur chand difference points likh day. jaisay min./max members, share transferbility, annual general meeting etc.

Is there any certificate needed prior to incorporate the Pvt Ltd Company, if yes, from which Government department/Mistry Mr.M.Gulzar will take permission?

Pakistan Foundry Association.

Private Limited Any one or more persons formed for a lawful purpose by subscribing to the memorandum of association, a private company. (“Companies Ordinance, 1984)

 Public Co., Ltd.Any three or more persons may form a public limited liability company, and in the same manner and purpose of any seven or more people can form a listed company. (“Companies Ordinance, 1984)

Private Company

Public Company

Its minimum number of persons is two and the maximum is 50.

It makes the use of private limited after its name.

It can commence its business operation after getting certificate of incorporation.

The memorandum of association and the articles of association is signed by at least two persons.

The filling of both memorandum and article of association is obligatory.

It does not require the filling of the prospectus or statement-in-lieu of prospectus.

It cannot sell shares to the general public in the open market.

Transfer of share is restricted in the articles of association.

There are of least two directors and they need not retire by rotation.

There is no legal restriction on director's remuneration.

 

Its minimum number of persons is seven and the maximum is unlimited.

It makes the use of the word limited after the name.

It requires both the certificate of incorporation and the certificate of commencement for its commencement.

Its memorandum and articles of association is signed by at least seven persons

It may not have its own articles of association because it may adopt table 'A'

 

It must file prospectus or statement in lieu of prospectus before allotment of shares.

it sell shares to the general public in the open market

Transfer of shares is not restricted and as such shares are freely transferable and are quoted in the stock exchange.

it has at least 3 directors and they are subject to retire by rotation.

The directors cannot draw remuneration more than 11 percent of the net profit of the company

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