(IFRS) for Small and Medium-sized Entities (SMEs)

IFRS FOR SMES – JULY 2009Dividends32.8 If an entity declares dividends to holders of its equity instruments after the endof the reporting period, the entity shall not recognise those dividends as a liabilityat the end of the reporting period. The amount of the dividend may be presentedas a segregated component of retained earnings at the end of the reportingperiod.DisclosureDate of authorisation for issue32.9 An entity shall disclose the date when the financial statements were authorisedfor issue and who gave that authorisation. If the entity’s owners or others havethe power to amend the financial statements after issue, the entity shall disclosethat fact.Non-adjusting events after the end of the reporting period32.10 An entity shall disclose the following for each category of non-adjusting eventafter the end of the reporting period:(a)(b)the nature of the event, andan estimate of its financial effect, or a statement that such an estimatecannot be made.32.11 The following are examples of non-adjusting events after the end of the reportingperiod that would generally result in disclosure; the disclosures will reflectinformation that becomes known after the end of the reporting period but beforethe financial statements are authorised for issue:(a)(b)(c)(d)(e)(f)(g)(h)(i)(j)a major business combination or disposal of a major subsidiary.announcement of a plan to discontinue an operation.major purchases of assets, disposals or plans to dispose of assets, orexpropriation of major assets by government.the destruction of a major production plant by a fire.announcement, or commencement of the implementation, of a majorrestructuring.issues or repurchases of an entity’s debt or equity instruments.abnormally large changes in asset prices or foreign exchange rates.changes in tax rates or tax laws enacted or announced that have asignificant effect on current and deferred tax assets and liabilities.entering into significant commitments or contingent liabilities, forexample, by issuing significant guarantees.commencement of major litigation arising solely out of events thatoccurred after the end of the reporting period.© IASCF 195