As per AS 20 if shares are issued for no consideration (without any change in resources then restatement of EPS should be made for all reporting periods. What exactly constitutes the term resources/ consideration? Does it only mean items like cash, asset, conversion of debt and so on, where there is a apparent change in resources? If shares are issued by a company for services rendered to them then whether restatement is required in such a case or can the services rendered be considered as adequate consideration?
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AS 20
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Dear Mayuri,
Shares issued against services rendered amts to share issued for adequate consideration and will not require restatement of EPS of earlier reporting period.
Thanx & Regards
Hitesh
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