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General Reserves

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › General Reserves

  • This topic has 8 replies, 2 voices, and was last updated 10 years ago by John Moffat.
Viewing 9 posts - 1 through 9 (of 9 total)
  • Author
    Posts
  • April 8, 2015 at 10:52 am #240501
    Xairie
    Member
    • Topics: 41
    • Replies: 42
    • ☆☆

    Dear sir,
    Will the proposed transfer to general reserves be included in the SOCIE??

    April 9, 2015 at 4:23 am #240586
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    Yes. The SOCIE shows the movements on all of the reserves.

    April 9, 2015 at 12:20 pm #240648
    Xairie
    Member
    • Topics: 41
    • Replies: 42
    • ☆☆

    Dear sir,
    This is really confusing.. Then y is proposed dividends not deducted as this ll also reduce the retained earnings and it is a revenue reserve aswell..????

    April 10, 2015 at 6:01 pm #240784
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    Proposed dividends are not shown anywhere because they are only proposed and are not definite. (They only become ‘certain’ when shareholders have voted on them – while they are just proposed they do not appear anywhere in the statements)

    April 10, 2015 at 6:01 pm #240785
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    Proposed dividends are not shown anywhere because they are only proposed and are not definite. (They only become ‘certain’ when shareholders have voted on them – while they are just proposed they do not appear anywhere in the statements)

    April 10, 2015 at 7:32 pm #240819
    Xairie
    Member
    • Topics: 41
    • Replies: 42
    • ☆☆

    Dear sir,
    So the proposed transfer to reserves need not to b approved.. Is it made straight away, i.e retained earnings(Dr)
    General reserves(Cr)

    April 10, 2015 at 7:45 pm #240825
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    Transfers between reserves do not need to be approved – correct 🙂

    April 11, 2015 at 2:03 am #240840
    Xairie
    Member
    • Topics: 41
    • Replies: 42
    • ☆☆

    Oh ok ok.. Thank u sir..

    April 11, 2015 at 8:37 am #240866
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
Viewing 9 posts - 1 through 9 (of 9 total)
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