Corporate Finance and Accounting: Treating of the Corporate Finances and Securities; the Corporate Books of Account; Reports; Negotiable Instruments; and the Powers, Duties and Relations of the Corporation Treasurer; with Forms

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Ronald Press, 1908 - Corporation law - 505 pages

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Contents

Statutory Requirements
53
The Treasurers Authority for Action
54
Place of Action
55
ByLaw Provisions Affecting Treasurer 28 General 29 Brief Provisions
56
Personal Bonds
57
Surety Company Bonds
58
Extended Provisions
59
Termination of Bond
60
General
61
Comprehensive Provisions First
64
Second Set ation U S Steel Corpor 66 32
66
The Finance Committee 33 Standing Committees
70
Appointment of Finance Committee
71
Organization of Finance Committee
75
Action of Finance Committee
76
Powers of Finance Committee
78
General Status of Finance Committee
81
Relation of Treasurer to Other Corporate Authorities 39 To the Stockholders 40 To the Board
82
To the Finance Committee
84
To the Auditor
86
To the Other Officials
87
The Treasurers Liabilities 44 Duties and Liabilities of Treasurer
90
45 To Whom Liable 46 Sources of Liability 47 a Neglect of or NonPerformance of Duties 48 b Faulty Performance of Duties
91
c Unauthorized Acts 50 d Illegal Acts
92
Statutory Liabilities
98
Scope of Treatment 63 The Records of a Corporate Business 64 a The Special Corporate Records 65 b The Financial Records 66 c The Purchase Rec...
111
d The Sales Records 68 e The Cost Records 69 f The General Records
113
Bookkeeping Terms Defined 70 Bookkeeping 71 Double Entry Bookkeeping
114
The Trial Balance 73 The Balance Sheet
115
Profit and Loss Statement 75 Records of Original Entry
116
Records of Summarization 77 Assets and Liabilities 78 a Fixed Assets
117
b Floating Assets 80 c Fixed Liabilities
118
d Floating Liabilities 82 Accounting Systems 83 a The HitorMiss or GoodEnough System 84 b The CoatofManyColors System 85 c The Scientifical...
119
The Financial Records 86 Record of Receipts 87 Cash Receipts Book
122
Record of Disbursements
124
Cash Disbursements Book
125
Evidence of Payment
126
Outstanding Checks
128
Record of Bond Issues 93 Bond Register 94 Index of Bondholders 95 Coupon Register
129
Interest Payments
132
Securities Ledger
135
The Purchase Records 98 General
136
Purchase Systems 100 The Voucher System 101 The Invoice File Sheet System
138
The Sales Records 102 General 103 Billing
146
Summary of Sales
147
Sinking Fund
148
Customers Ledger
149
Manufacturing Cost Records 106 Importance of Accurate Costs 107 Requirements of a Cost System
150
a Materials Supplies and Finished Products Raw Materials Factory Supplies Finished Products 109 b Gross Profit on Sales 110 c Expenses of the Selli...
151
e Net Profit on Sales 113 Elements of Cost
152
Notes Receivable
153
Procedure
154
Finished Products
155
Manufacturing
156
ByProducts
157
Raw Materials 159 Factory Supplies
158
The General Records
166
Ledger AccountsTheir Functions and Entries
181
Stable Supplies
182
Patterns
188
Insurance 162 Treasury Stock
201
Stocks of Other Companies 3 LIABILITY ACCOUNTS 164 Capital Stock a Preferred Stock b Common Stock
203
Mortgages Payable 166 Bonds a Mortgage b Accumulative
204
Notes Payable 168 Accounts Payable
205
Accrued Interest a On Mortgages Payable b On Bonds 170 Accrued Taxes
206
Pay Roll 172 Agents Accounts
207
Reserve for Depreciation of Machinery and Equipment
208
4 SURPLUS PROFIT AND LOSS AND STATISTICAL ACCOUNTS 174 Surplus 175 Profit and Loss
210
Sales 177 Income a From Rentals b Stocks of Other Companies
211
Special Entries of Corporate Books
215
2 OPENING ENTRIES FOR CORPORATE BOOKS
230
Books of a Mining Corporation
231
The Treasurers Report
237
The Auditors Report
246
THE CORPORATE FINANCES
266
Status of Treasurer as to Corporate Funds
267
Custody of Corporate Funds
268
Disbursement of Corporate Funds
269
Endorsements
270
Return of Corporate Funds
271
Bank Deposits 206 Selection of Depositary 207 Directors Powers as to Depositary
272
Treasurers Powers as to Depositary
273
Status of the Corporate Depositary
274
Opening the Account
275
Corporate Deposit in Treasurers Name
277
Deposit of Funds
279
Withdrawal of Deposit
280
Checks 214 General 215 Nature
283
Form 217 Essential Features
285
a Date
286
b Amount
287
c Drawer
288
Signature
289
d Drawee 223 e Payee
291
Collection 225 Endorsement
293
Payment of Checks
296
Checks Continued 227 Payment by Check
298
Depositing Checks
299
Return of Cancelled Checks
300
Voucher Checks
301
Certified Checks
302
Revocation of Checks
304
Overdrafts 234 Stale Checks
306
Lost or Destroyed Checks
307
Dividends Not in Cash 246 a Stock Dividends
321
b Bond Dividends
322
c Scrip Dividends
323
d Property Dividends
325
Dividends Continued 250 Declaration of Dividends
327
Notice of Dividends
330
To Whom Paid
332
Payment of Dividends
335
Compelling Declaration of Dividends
337
Illegal Dividends
340
Liability for Illegal Dividends
341
Treasurers Liability as to Dividends
342
PART IV NEGOTIABLE INSTRUMENTS Chapter XXVI Nature and Requisites 258 Laws which Govern
344
What Constitutes a Negotiable Instrument 260 a Methods of Transfer
345
b Rights Transferred
346
Requisites of Negotiable Instruments
347
Delivery
350
Signature 265 Consideration
351
Maturity
352
NonEssentials
353
Ambiguities How Construed
354
Blanks in Instruments
355
Holder Not in Due Course 276 What Constitutes Notice of Defect
362
Liability of Maker 278 Drawer
363
Acceptor 280 Transferrer by Delivery or Qualified Endorsement
364
Endorser 282 an Irregular Endorser
365
Order in which Endorsers are Liable 284 Liability of Agent and Broker 285 Joint and Several Liability 66 66
366
Collection 1 PRESENTMENT 286 Necessity and Effect of Presentment
367
When Presentment is Not Necessary 288 General Requirements of Presentment
368
Who May Make Presentment 290 Time of Presentment
369
Place of Presentment
370
To Whom Presented
371
2 DISHONOR 293 When an Instrument is Dishonored 294 Rights of Holder on Dishonor 295 Protest
372
To Whom Notice of Dishonor is Given
374
By Whom Notice of Dishonor May be Given 298 Effect of Notice of Dishonor
375
Form of Notice of Dishonor 300 How Notice of Dishonor is Given
376
Time of Notice of Dishonor
377
Where Notice of Dishonor Must be Given 303 Waiver of Notice of Dishonor
378
When Notice of Dishonor is Unnecessary
379
Payment in Due Course 306 Discharge of Instrument 307 Discharge of Persons Primarily Liable 308 Discharge of Persons Secondarily Liable
380
Payment by Party Secondarily Liable 310 Renunciation and Cancellation
381
Bills and Notes 311 General 312 Payment by Drafts and Notes 313 Bills of Exchange
382
Promissory Notes
384
Similarity Between Drafts and Notes 316 Negotiability
385
Extraneous Matter 318 Presentment of Drafts for Acceptance
386
When Presentment for Acceptance is Excused 320 Manner of Presentment for Acceptance
387
Dishonor by NonAcceptance 322 Acceptance of Drafts
388
Time for Acceptance 324 Kinds of Acceptances 325 Rights of a Holder as to Qualified Acceptance
389
Bills in Sets
390
CORPORATE SECURITIES Chapter XXX Capital Stock 327 Capitalization 328 Capital Stock
391
Capital
392
Shares and Their Par Value
393
Nature and Functions of Capital Stock
395
Certificates of Stock
396
Issued and Unissued Stock
397
Stock Full Paid and Partly Paid
398
Payment for Stock
399
Treasury Stock
400
Common and Preferred Stock
401
Watered Stock
402
Preferred Stock 339 How Created
404
Nature of Preferred Stock
408
Variations in Form
409
Cumulative Dividends
410
Rights to Assets
411
Voting Rights 345 Redemption Rights
412
Convertible Stock
414
Guaranteed Stock 348 Liabilities of Preferred Stock
415
Advantages of Preferred Stock
416
Bonds 350 Nature of a Bond
418
Authorization of Bond Issues
419
Statutory Provisions
420
Debentures
421
Mortgage Bonds 355 Coupon Bonds
422
Registered Bonds
423
Form of Bond 358 Form and Nature of Coupon
424
Trustees Certificate 360 Deeds of Trust
425
Recitals of Deed of Trust
426
Execution and Filing of Deed of Trust 363 Sinking Fund
428
Sale of Bonds
429
Liabilities of Vender 366 Rights of Holders
430
Redemption of Bonds
432
Investment Value of Bonds
433
Kinds of Bonds a First Mortgage etc b Junior Lien
434
c Gold etc d Convertible
435
e Redeemable f Profit Sharing
436
g Income
437
FORMS
441
Voucher Check
448
Instalment Certificate or Stock Scrip
454
Form
455
Treasurers Report
461
Special Forms
468
Bonds of Indemnity Form 31 Treasurers Bond Personal
470
Surety Company
471
Indemnity Bond Lost Stock Certificate
473
Corporate Securities 34 Preferred Stock U S Steel Corporation
475
Stock Endorsements 36 Short Term Notes Penna Co a Form of Note
477
b Coupon
478
Convertible Bond Penna R R Co 38 Guarantee of Note 66
480
Bond So Pac Co 40 Coupon Bond U S Steel Corporation
482
Coupon 42 Registered Bond 66
487
Deed of Trust
503
Copyright

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Popular passages

Page 359 - Where a signature is forged or made without the authority of the person whose signature it purports to be, it is wholly inoperative, and no right to retain the instrument, or to give a discharge therefor, or to enforce payment thereof against any party thereto, can be acquired through or under such signature, unless the party against whom it is sought to enforce such right is precluded from setting up the forgery or want of authority.
Page 65 - Board, for the faithful performance of the duties of his office, and for the restoration to the Corporation, in case of his death, resignation, retirement or removal from office, of all books, papers, vouchers, money and other property of whatever kind in his possession or under his control belonging to the Corporation.
Page 373 - The protest must be annexed to the bill, or must contain a copy thereof, and must be under the hand and seal of the notary making it, and must specify: 1. The time and place of presentment; 2. The fact that presentment was made and the manner thereof; 3. The cause or reason for protesting the bill; 4. The demand made and the answer given, if any, or the fact that the drawee or acceptor could not be found.
Page 369 - reasonable time" or an "unreasonable time," regard is to be had to the nature of the instrument, the usage of trade or business (if any) with respect to such instruments, and the facts of the particular case.
Page 475 - In the event of any liquidation or dissolution or winding up (whether voluntary or involuntary) of the corporation, the holders of the preferred stock shall be entitled to be paid in full both the par amount of their shares and the unpaid dividends accrued thereon before any amount shall be paid to the holders of the common stock...
Page 475 - The holders of the preferred stock shall be entitled to receive when and as declared, from the surplus or net profits of the corporation, yearly dividends at the rate of 7 per cent per annum, and no more, payable quarterly on dates to be fixed by the by-laws.
Page 371 - Where the person primarily liable on the instrument is dead, and no place of payment is specified, presentment for payment must be made to his personal representative, if such there be, and if with the exercise of reasonable diligence he can be found.
Page 351 - Every negotiable instrument is deemed prima facie to have been issued for a valuable consideration ; and every person whose signature appears thereon to have become a party thereto for value.
Page 370 - Delay in noting or protesting is excused when the delay is caused by circumstances beyond the control of the holder, and not imputable to his default, misconduct, or negligence.
Page 375 - Notice of dishonor may be given by an agent either in his own name or in the name of any party entitled to give notice, whether that party be his principal or not.

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