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proposed dividend

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(Querist)
06 March 2009 is proposed dividend considedered as event accuring after balance sheet date as per AS 4 ?
It means it can be considered as contingent liability as it is only proposed by directors and it will be final after approval of share holder.i believe that proposed dividend is appropriation of profit of particular financial year.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
24 September 2011 AS 4 provides that proposed dividend declared after the Balance Sheet date but before approval of accounts should be adjusted in the accounts.

Accordingly, provision will have to be created and it cannot be treated as contingent liability.
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