Accounting For Corporation - Basic Considerations
Accounting For Corporation - Basic Considerations
Accounting For Corporation - Basic Considerations
CORPORATION –
BASIC CONSIDERATIONS
Source: Partnership and Corporation, Ballada
Prepared by Greg O. Saclot
for BSBA 1st Year Students
DEFINITION
2. According to nationality:
A. Domestic corporation. A corporation organized
under Philippine laws.
B. Foreign corporation. A corporation organized
under foreign laws.
OTHER CLASSIFICATIONS OF CORPORATIONS
8. If it be a stock corporation:
a. Amount of authorized share capital in pesos,
b. Number of shares into which it is divided,
ARTICLES OF INCORPORATION
8. If it be a stock corporation:
c. In case the shares are par value shares:
the par value of each share,
names, nationalities and residences of the original
shareholders,
The amount subscribed and paid by each subscriber
on his subscription.
ARTICLES OF INCORPORATION
8. If it be a stock corporation:
d. In case of no-par value, the article need only state
such fact, and the number of shares into which share
capital is divided.
BY-LAWS
Shareholders
elect the
Board of Directors
elect the
Officers
hire
Employees
BASIC CORPORATE ORGANIZATIONAL STRUCTURE