Page 20 - LILITED LIABILITY COMPANIES - INTERMEDIATE

COMPANY ACCOUNTING SESSION 14

1.17 COMMON ERRORS:

- showing debentures as part of the companies share capital and reserves.
- failure to ensure that a full year's interest on debentures is debited in the Statement of Profit or Loss
and OCI.
- omission of outstanding debenture interest from the payables as a liability.
- failing to include interim dividends paid during the year in the Statement of Changes in Equity, in the
case of published accounts.

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