IFRS for SMEs / Third edition changes / Section 6 in the third edition: dividends declared after year end
Section 6 in the third edition: dividends declared after year end
Dividends proposed or declared after the reporting date but before the statements are authorised for issue are disclosed in the notes. They are not a liability at the reporting date.
What changes
- 6.6; 32.8 Disclose the amount of dividends proposed or declared after the reporting date.
What to prepare
- Ask the directors whether a dividend was declared between year end and the approval date, and record the amount.
How Sight handles it
The third-edition checklist on the engagement's Information tab asks the accountant to confirm this before finalisation.
Section 6: Statement of Changes in Equity and Statement of Income and Retained Earnings: the section in full.
Other third-edition changes
- Section 2 in the third edition: concepts and pervasive principles
- Section 3 in the third edition: material accounting policy information
- Section 4 in the third edition: disaggregating line items
- Section 7 in the third edition: financing liabilities and supplier finance
- Section 8 in the third edition: material policies and judgements
- Section 11 in the third edition: one section for financial instruments, ageing and maturity
- Section 12 in the third edition: the new fair value section
- Section 19 in the third edition: business combinations
- Section 23 in the third edition: the five-step revenue model
- Section 29 in the third edition: uncertain tax treatments
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