DFS specimen exam paper

joerd84 Registered Posts: 56 💫 🐯 💫

Don't know how many people have done this but in the journals on task 1.1 the final one says "on 3rd May 2006 the company declared a final dividend for year end 31 March 2006 of 6p per share."

I know this questions redundant as 3rd May is after the balance sheet date, but what would the adjustment be if it was before it?

Many thanks


  • DaveIOW
    DaveIOW Registered Posts: 85 💫 🐯 💫
    The only adjustment to be made is any dividends paid in the year, usually the final dividend from the previous year & if a interim dividend was paid. Both should appear in the balance sheet.

    It doesnt really matter when they say it, apart from it being mentioned in the notes that accompany financial statements.
  • sdv
    sdv Registered Posts: 585
    Don't panic!

    Dividents won't be tested like they were tested before 2006.

    Since June 2006 when new IAS's started to be tested; AAT declared that Dividends won't be tested except for (cash flow and statement of equity)
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