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AS-4 Events occurring after Balance Sheet

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(Querist)
07 June 2011 Dear Experts,

My doubt is regarding recognising a Contingent Asset i.e Dividend Income from a Subsidiary. Suppose for FY 10-11, Y Ltd (Subsidiary of X Ltd) declares dividend on May 30th, 2011. By then the Audit of X Ltd was not over. Can X Ltd recognise the Dividend Income from Y Ltd in FY 10-11 itself?????

Thanking you in advance

Prithvi
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CA. RAVIKUMAR

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CA. RAVIKUMAR (Expert)
07 June 2011 AS-4 is not applicable in your case because as on 31.3.2011 Event is not exist ans as per AS-09 in case of Dividend income Should be recognized when dividend declared by the declaring company.
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Pankaj Gandhi Jaiswal

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Pankaj Gandhi Jaiswal (Expert)
12 June 2011 Recognizing event is the date of declaration so relevant date is 30th May 2011..so X ltd can't recognize
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