07-03-2006, 11:08 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>
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yes again u r rite
4th schedule is infact part of company law
and IAS 1 requires F.S to be drafted as per local laws ,in our case,companies ordinance ,if they r in conflict with any IAS,isn't it so..
as far as company law is concerned i have't read it ,so in that regard i only know what our teacher has told us.however i have read IAs
and since the question required to be attempted in accordance with IAS a better treatment wud hav been as commented by the examiner
however a person doing it otherwise wud also hav been following IAS1,so as per IAS again..bt preferred wud be 1st 1
leave everything else;
now onwards
circular by ICAP has now very clearly stated the treatment of proposed dividend
proposed dividend after B/S date are always to be a non adjusting event
now only dividend paid are to be adjusted by retained earnings
and dividend paid in a yr = interim dividend paid+proposed dividend of last yr paid in current yr
now watz ur opinion ,do u agree or not?just for now onwards treatment..leave 4 past ..as gone is forgone
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
I was just clarifying ur opinion, you said in ur first post that by approval u mean BOD's approval. my opinion that BOD's approval is not an obligating event rather shareholders approavl in AGM is obligating event, as its clear from examiner comments too and from para 20 of IAS 37.
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yes again u r rite
4th schedule is infact part of company law
and IAS 1 requires F.S to be drafted as per local laws ,in our case,companies ordinance ,if they r in conflict with any IAS,isn't it so..
as far as company law is concerned i have't read it ,so in that regard i only know what our teacher has told us.however i have read IAs
and since the question required to be attempted in accordance with IAS a better treatment wud hav been as commented by the examiner
however a person doing it otherwise wud also hav been following IAS1,so as per IAS again..bt preferred wud be 1st 1
leave everything else;
now onwards
circular by ICAP has now very clearly stated the treatment of proposed dividend
proposed dividend after B/S date are always to be a non adjusting event
now only dividend paid are to be adjusted by retained earnings
and dividend paid in a yr = interim dividend paid+proposed dividend of last yr paid in current yr
now watz ur opinion ,do u agree or not?just for now onwards treatment..leave 4 past ..as gone is forgone
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
I was just clarifying ur opinion, you said in ur first post that by approval u mean BOD's approval. my opinion that BOD's approval is not an obligating event rather shareholders approavl in AGM is obligating event, as its clear from examiner comments too and from para 20 of IAS 37.
