54 u) Dividend Final dividend on shares is recorded as a liability on the date of approval by the shareholders and interim dividends are recorded as a liability on the date of declaration by the Board of Directors of the Company. Critical estimates and judgments Preparation of the Financial Statements require use of accounting estimates, judgements and assumptions, which by definition, will seldom equal the actual results. Appropriate changes in estimates are made as the Management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the Financial Statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the Financial Statements. This Note provides an overview of the areas that involve a higher degree of judgements or complexity and of items that are more likely to be materially adjusted due to estimates and assumptions turning out to be different than those originally assessed. Detailed information about each of these estimates and judgements is included in relevant notes together with information about the basis of calculation for each affected line item in the Financial Statements. The areas involving critical estimates or judgments are: • Estimation for income tax: Note 1 (q) • Estimation of useful life of tangible assets: Note 1 (c) • Estimation of provision for inventories: Note 1 (l) • Allowance for credit losses on trade receivable: Note 1 (i) • Estimation of claims | liabilities: Note 1 (p) • Estimation of defined benefit obligation: Note 1 (o) • Fair value measurements: Note 26.6 • Impairment: Note 1 (f)
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