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Regarding financial statement preparation

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(Querist)
08 October 2018 Dear Sir,

Please clarify whether proposed dividend of FY 2017-18 has to be shown in financial statements of FY 2017-18?
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CA Ankit R Momaya

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CA Ankit R Momaya (Expert)
08 October 2018 As per the revised Accounting Standard, proposed divided is no longer to be recognised as liability as on Balance Sheet Date. The same will be accounted when it is approved by the Shareholders in the Annual General Meeting.

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