# Foundational Definitions under Section 2
Section 2 is the dictionary of the Companies Act, 2013. These foundational terms reappear in almost every later chapter — master them first.
## 1. Accounting Standards [Sec 2(2)]
The standards of accounting (or any addendum thereto) for companies or class of companies referred to in Section 133.
> Think: AS / Ind-AS notified by the Central Government in consultation with NFRA.
## 2. Auditing Standards [Sec 2(7)]
The standards of auditing (or any addendum thereto) for companies or class of companies referred to in Section 143(10).
## 3. Alter / Alteration [Sec 2(3)]
Includes additions, omissions and substitutions. The definition is inclusive — wider than its ordinary meaning.
| Action | Covered? |
|---|---|
| Adding a new clause | Yes (addition) |
| Deleting a clause | Yes (omission) |
| Replacing one clause with another | Yes (substitution) |
## 4. Articles [Sec 2(5)]
Articles of Association (AoA) — the internal rule book of the company. Covers AoA:
- as originally framed, OR
- as altered from time to time, OR
- applied in pursuance of any previous company law or this Act.
## 5. Memorandum [Sec 2(56)]
Memorandum of Association (MoA) — the constitution / charter of the company. Same inclusivity logic as AoA (original or altered).
> Mnemonic — MoA = Macro (external relations, objects), AoA = Activity (internal management).
## 6. Notification [Sec 2(58)]
A notification published in the Official Gazette. The verb “notify” is construed accordingly. Until publication in the Gazette, a notification has no legal effect.
## 7. Prescribed [Sec 2(66)]
Means prescribed by rules made under this Act — i.e., by the Central Government via Rules (e.g., Companies (Incorporation) Rules, 2014).
> Whenever the Act says “as may be prescribed”, you must check the relevant Rules.