Companies Act, 1973 (Act No. 61 of 1973)Schedule 4: Requirements for annual financial statements, interim reports and provisional annual financial statementsPart I : C. Income Statement |
| 42) | Except in the case of the first income statement, the corresponding amounts for the immediately preceding financial year for all items shown in the income statement, shall be stated. |
| 43) | There shall be shown separately- |
| a) | the amount of income from investments, distinguishing between listed and unlisted investments and between interest, dividends, and other specified income; |
| b) | the aggregate amount of income from subsidiaries, stating whether dividends, interest, fees or other specified income; |
| c) | the aggregate amount of the dividends declared, and if such dividends are provided partly or wholly from capital profits, a statement to that effect; |
| d) | the amount provided or paid for taxation (specifying, where material, the origin and different classes of taxes) in respect of the financial year concerned and the amount, if any, so provided or paid in respect of any other financial year; |
| e) | the amount provided for current and deferred taxation, significant adjustments to prior period provisions and adjustments to deferred taxation arising from changes in the standard tax rate; |
| f) | the amount of interest (or other consideration) on any loans, including debentures and bank overdrafts made to the company identifying the portion, if any, capitalised during the period; |
| g) | the amount of interest on share capital paid out of capital during the financial period concerned and the rate of such interest; |
| h) | the respective amounts paid as remuneration for managerial, technical, administrative or secretarial services, however described, other than to the bona fide employees of the company; |
| i) | the amount paid to the auditors, |
| j) | the amounts respectively set aside for redemption of shares and of loans; |
| k) | the amount transferred or proposed to be transferred to or from reserves; |
| l) | earnings per share and dividends per share in respect of listed companies for each class of equity shares; |
| m) | profits or losses on share transactions; |
| n) | the aggregate amount of profits and losses on the realisation, scrapping or other disposal of non-trading, fixed and other non-current assets; |
| o) | the amount charged to income by way of provisions (other than provisions for diminution in values of current assets) specifying the nature of each provision or the amount withdrawn from such provisions and not applied for the purpose thereof |
| p) | the amount of any credit or charge arising in consequence of an event in a preceding financial year; |
| q) | the amount of foreign exchange gains and losses taken to the income statement which relate to foreign currency denominated items; |
| r) | the amount of operating lease charges distinguishing between the major categories of assets held under operating lease; |
| s) | items of income and expense which, in the accounting period, are material items and result from occurrences the underlying nature of which is typical of the ordinary trading or operating activities of the enterprise; |
| t) | the profit or loss arising from the sale of an asset after adjustment for any difference between the sale price and fair value when there has been a sale and lease back transaction which gives rise to an operating lease; and |
| u) | where group accounts are not presented, in respect of investments in associates, the dividend received, the investor's interest in the retained equity income or deficit and the investor's effective interest in prior period adjustments. |
| 44) | There shall be stated the aggregate amount of turnover for the accounting period concerned and the basis upon which turnover has been determined. |
| 45) | If provision for depreciation or for the diminution in value of fixed assets is made, by some method other than a depreciation charge or provision for diminution in value or is not provided for, the method by which it is provided for or the fact that it is not provided for, shall be stated. |
| 46) | If no provision for taxation has been made, that fact and the reason therefor shall be stated. |
| 47) | There shall be stated any material items and the amount of these items; |
| 48) | There shall be stated sufficient information on forward exchange contracts entered into which do not relate to specific balance sheet items to enable an assessment to be made of the foreign currency exposure. |
| 49) | There shall be stated- |
| a) | the estimated tax effect of tax losses available for set off against future taxable income, before and after they have been applied to reduce deferred taxation; and |
| b) | the total unprovided net timing differences separately stating those relating to the current year. |