Journal entry of dividend declaration
Querist : Anonymous
Pls solve my query....final dividend
Would be declare by board of directors
in AGM after finalization of accounts,
Query...assume accounts of AY 2016-17
Has been finalized and the same was
Represent in AGM however the directors
Has declared dividend say Rs. 1 lakh pls
Let me know if accounts become finalized
Before AGM then how the accounting entry
Of declared dividend in AGM will be pass
In Finalized accounts....
As per my knowledge if accounts has been
Finalized then No any entry can be pass
Later...
Thanx & Regard
Anuj Gautam
However, in case of any change in the Dividend in the General Meeting the same need to be corrected in the current year balance sheet only, another board meeting is to be called, accounts will be approved again, and AGM will be adjourned and if needed extension for holding the General Meeting need to be taken and again Financial Statements will be adopted and filed accordingly..
It is my personal opinion... I am yet to find any clear law on this topic...
Contrary view are welcome....
AGM approves/passes it. What is the difficulty?
I have replied if the AGM has rejected the Dividend.
"Proposed Dividend" could be a good nomenclature. Even some companies put the year also e.g. "proposed dividend 2015-16" and so on so forth.
Querist : Anonymous
plz confirm... weather dividend will be propose by bod before agm or after agm...
if before agm then it will be depends on the share holders weather to approve or reject..
Yes it may be....
Querist : Anonymous
Financial Statements are approved by the Board of Directors which are required to be adopted by the Shareholders in the AGM the process completes.
Querist : Anonymous
01. year end occurs physically.
02. books of accounts completed and financial statement prepared by management
03. audit conducted....get the accounts audited.
04.BoD approves the same
05. AGM conducted
06. Shareholders adopt the accounts in the AGM.
This is the sequence/chronology. Please tell me at which step you are facing difficulty.?
Querist : Anonymous
rejected by share holders in agm in that case how the finalized & audited accounts will be correct accordingly.......
Querist : Anonymous
and the share holders has rejected the same in AGM in that case how the audited accounts will be
correct accordingly....
Querist : Anonymous
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