07 April 2009
As per companies Act, Calls in Arrears can be collected with interest if the board of directors or the original issue conditions of shares allows for payment of calls in arrears along with interest.
As per para 20 of the Accounting standard 20 Where an enterprise has equity shares of different nominal values bu with the same dividend rights, the number of equity shares is calculated by converting all such equity shares into equivalent number of shares of the same nominal value.
Further as per companies act eventhough calls are in arrears they are eligible for dividend. Therefore para 20 should be applied here.
Therefore all the shares are to considered for calculating EPS.
07 April 2009
But sir as per the companies act such shareholders will be elegible for dividend to the extent of amount paid-up on the such shares.... will it make any difference in ur answer???????
CAclubindia
