Arrears of Pref Divi

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Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2011 Dear All

Please guide me to know if it is required to disclose arrears of pref dividend and if yes where it is specified that it should be disclosed.

Thaking you all in anticipation.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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12 January 2011 It is a type of contingent liability and hence should be disclosed in noted to accounts.

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2011 But can you tell me where it is specified that it should be disclosed

Aditya Maheshwari

Aditya Maheshwari (Expert)
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13 January 2011 schedule VI
A foot-note to the balance-sheet may be added to show separately:
(1) Claims against the company not acknowledged as debts.
(2) Uncalled liability on shares partly paid.
++(3) Arrears of fixed cumulative dividends.
The period for which the dividends are in arrear of if there is more than one class of shares, the dividends on each such class are in arrear, shall be stated.
(4) Estimated amount of contracts remaining to be executed on capital account and not provided for.
+(5) Other money for which the company is contingently liable.

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