After the allotment of shares, sometimes a shareholder is not able to pay the further calls and returns his shares to the company for cancellation. Such voluntary return of shares to the company by the shareholder himself is called Forfeiture of Shares.

Syllabus for this paper (with weightage): 

Section A : Accounts of Joint Stock Companies 50%
1. Accounting of Shares and Debentures
2. Presentation of Financial Statements (as per Schedule III)
3. Cash Flow Statement
4. Accounts of Banking, Electricity and Insurance Companies
5. Accounting Standards (AS - 11, 12, 15, 16, 17, 18 and 19)