07-03-2006, 07:02 PM
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by insaan</i>
<br />yes v right dear
by da way comments relate to s 04 exams
at dat time infact proposed dividends were shown as lialbility as per IAS 1 as our compay law required so
however now company law has also harmonised itself with IAS
so now only 1 treatment 4 proposed dividend
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
at that time proposed dividend had the same treatment as now as per IAS! rather it was requirment of 4th schedule dear[)]
infact the question was to redraft the balance sheet(given in question which was in accordance with law) as per IASs. so the dividend proposed by BOD shall hve to be deducted as liability and added back to RE as the propsed dividend was not and is not liability as per IAS
<br />yes v right dear
by da way comments relate to s 04 exams
at dat time infact proposed dividends were shown as lialbility as per IAS 1 as our compay law required so
however now company law has also harmonised itself with IAS
so now only 1 treatment 4 proposed dividend
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
at that time proposed dividend had the same treatment as now as per IAS! rather it was requirment of 4th schedule dear[)]
infact the question was to redraft the balance sheet(given in question which was in accordance with law) as per IASs. so the dividend proposed by BOD shall hve to be deducted as liability and added back to RE as the propsed dividend was not and is not liability as per IAS
