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https://hdl.handle.net/1959.11/14161
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DC Field | Value | Language |
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dc.contributor.author | Werren, Kip | en |
dc.date.accessioned | 2014-03-06T15:32:00Z | - |
dc.date.issued | 2010 | - |
dc.identifier.citation | ALTA Conference 2010 Programme and Abstract Book, p. 39-39 | en |
dc.identifier.uri | https://hdl.handle.net/1959.11/14161 | - |
dc.description.abstract | The strict application of the doctrine of capital maintenance has been gradually modified by reforms to the Corporations Act 2001 (Cth). However, the requirement that dividends must be paid out of profits gives full effect to the capital maintenance doctrine. In paying dividends, the central issue is the meaning of profits, but the term profit is an elusive concept. It has different significance for the purposes of the accounting standards, taxation law and corporations law. This paper critically reviews the courts' significant, if somewhat disparate, guidance on dividend payments through the contemporary accounting methods adopted in the financial statements of companies. The courts have been disinclined to provide a definitive answer as to what profits are and judicial guidance in this regard deviates significantly from existing accounting policies and practice. The courts' general stance is that profits can be determined by a number of methods and that even in the context of dividends there may be multiple ways for determining the profits of a company. This paper reiterates that accounting standards are binding on disclosing entities, registered schemes, public companies and large proprietary companies. Considerable latitude is however given to small proprietary companies on how to present their financial information. This gap in the corporate governance regime underscores the need for court guidance on dividend payments. It is suggested in the paper that the present position should be reformed. In this regard the paper suggests possible alternatives and supplementary methods in light of practices in comparable jurisdictions. | en |
dc.language | en | en |
dc.publisher | Australasian Law Teachers Association | en |
dc.relation.ispartof | ALTA Conference 2010 Programme and Abstract Book | en |
dc.title | Corporate Accounting Principles and the Courts: Contested Premises in Dividend Policy | en |
dc.type | Conference Publication | en |
dc.relation.conference | ALTA 2010: 65th Annual Australasian Law Teachers Association Conference | en |
dc.subject.keywords | Taxation Law | en |
dc.subject.keywords | Corporations and Associations Law | en |
dc.subject.keywords | Property Law (excl Intellectual Property Law) | en |
local.contributor.firstname | Kip | en |
local.subject.for2008 | 180125 Taxation Law | en |
local.subject.for2008 | 180124 Property Law (excl Intellectual Property Law) | en |
local.subject.for2008 | 180109 Corporations and Associations Law | en |
local.subject.seo2008 | 949999 Law, Politics and Community Services not elsewhere classified | en |
local.profile.school | School of Law | en |
local.profile.email | kwerren2@une.edu.au | en |
local.output.category | E3 | en |
local.record.place | au | en |
local.record.institution | University of New England | en |
local.identifier.epublicationsrecord | une-20140227-134935 | en |
local.date.conference | 4th - 7th July, 2010 | en |
local.conference.place | Auckland, New Zealand | en |
local.publisher.place | Auckland, New Zealand | en |
local.format.startpage | 39 | en |
local.format.endpage | 39 | en |
local.title.subtitle | Contested Premises in Dividend Policy | en |
local.contributor.lastname | Werren | en |
dc.identifier.staff | une-id:kwerren2 | en |
local.profile.orcid | 0000-0001-5217-6495 | en |
local.profile.role | author | en |
local.identifier.unepublicationid | une:14374 | en |
dc.identifier.academiclevel | Academic | en |
local.title.maintitle | Corporate Accounting Principles and the Courts | en |
local.output.categorydescription | E3 Extract of Scholarly Conference Publication | en |
local.conference.details | ALTA 2010: 65th Annual Australasian Law Teachers Association Conference, Auckland, New Zealand, 4th - 7th July, 2010 | en |
local.search.author | Werren, Kip | en |
local.uneassociation | Unknown | en |
local.year.published | 2010 | en |
local.date.start | 2010-07-04 | - |
local.date.end | 2010-07-07 | - |
Appears in Collections: | Conference Publication |
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