Form 23ACA & BS Abstrat.

This query is : Resolved

Guest

Guest (Querist)

11 June 2010 Dear Experts,

I may post the following queries for your views :

Query 1

In Form 23ACA, Page 3 – Part II – 1. Proposed Dividend – Whether this represents the Equity Dividend only (as the company also has preference dividend).

Query 2

Similarly, in the Balance Sheet Abstract,
Item No.IV. Performance of Company – Dividend Rate % - Whether this represents the Equity Dividend % only.

Query 3

In the Balance Sheet Abstract, Item No.III. Application of Funds – Net Fixed Assets (NFA) :

Is it appropriate to include the amount of ‘Capital work-in-progress including capital advances’ in the field specifically given for NFA (in the absence of field for the Capital work...............) ?

or

Shall we create a separate field for ‘Capital work-in-progress including capital advances’ next to NFA and mention the amount here so that the relevant Heads Expenditure may not be disturbed ?

I shall wait for your views.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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12 June 2010 Sir

1) Equity dividend only. My reasoning is, if the intention of MCA is to show both they
would have given coma option as instructed in e-form 20 B clause 6 -10( Capital structure....).

2) Equity dividend % only. My reasoning is they are asking EPS in the immediate left
column. As per AS-20, EPS is worked out for equity shares only. Same analogy can be
applied for dividend also.

3) Capital work in progress should be included and shown in NFA column. My reasoning is:-
(i)for schedule VI purpose we are adding the same with fixed assets and,hence, same method
should be followed in balance sheet abstract also.(ii) For want of specific instructions, balance sheet
abstract form cannot be altered so as to include an additional column.

Divergent views,if any, may kindly be expressed over here.

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