Payment of Dividend on Cumulative Preference Shares
This query is : Resolved
30 October 2010
Our company has issued 4% Cumulative Preference Shares but in current year we have inccured loss so we can not pay dividend in the current F.Y.
My question is that as the Preference Shares are Cumulative whether we need to make provisions in our current years books for the dividend to be paid in future.
My question is that as the Preference Shares are Cumulative whether we need to make provisions in our current years books for the dividend to be paid in future.
30 October 2010
Dividend is appropriation of profit and cannot be said provision.provision is done only for expenditure and losses and dividend is not the same.
According to me, u r not required to make any provision in the books and mere required to disclose in notes to accounts that dividend is cumalted
According to me, u r not required to make any provision in the books and mere required to disclose in notes to accounts that dividend is cumalted
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