Declaration of Dividends, IAS 10

[irfanahmedmeer]

Default possition in Pakistan regarding the conflicts between Companies Ordinance, 1984 and IAS is that the provision of Companies Ordinance and directives of SECP will take precedence. There is a conflict there where IAS requires different treatment than Companies ordinace. Companies Ordinance will prevail and Dividend needs to be disclosed as proposed dividend in the year in which it is declared.