19 February 2008
When the owner's right to receive is established, the receipt can be recognised. If the dividend was declared in AGM, then you can be said to have a right to receive the dividend. If it is only in the Board meeting, you will have to wait till it is confirmed by AGM.
19 February 2008
As per AS 9 dividend can be recognised as income in the year in which the right to receive the same is established. As per mercantile system also an income is said to accrue when the right to the same has arisen .In your case the right has arisen/established in the financeial year 2007-2008 and such the income will be recognised in that year only .
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