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As4
Is proposed dividend adjusting or non adjusting event??
Replies (8)
Though it is non adjusting event,it should be adjusted because of legal requirements and its special significance
In study material of ICAI its given that disclosure is enough
Its an adjusting event
Proposed dividend do not qualify to be a adjusting event as per the definition in AS4
However, AS 4 clearly specifies that proposed dividend should be treated as a adjusting event
Thus although proposed dividend do not qualify as per the definition of adjusting event but it is an adjusting event.
As it is statutory event,it becomes adjusting event.
As4 has 2 exceptions where non-adjusting is also treated as adjusting-
1-when going concern concept is violated.
2-in case of proposed divid.
So it is adjusting.
Fully agreed with Apram
Me too agree wit apram
As as-4 under revision, it is needed to be adjusted as current liability in schedule -3
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