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IAS 10 Events after the Reporting Period By Mr. Conor Foley, B. Comm., MAcc., FCA, Dip IFR Examiner: Formation 2 Financial Accounting This article provides information and application in relation.

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Event after the reporting period is favorable or unfavorable event that occurs between : The end of the reporting period and. The date that the financial statements are authorised for issue.

Examples of adjusting events include: • events that indicate that the going concern assumption in relation to the whole or part of the entity is not appropriate; • settlements after reporting date of court cases that confirm the entity had a present obligation at reporting date; • receipt of information after reporting ...

Events after the reporting period include all events up to the date when the financial statements are authorised for issue, even if those events occur after the public announcement of profit or of other selected financial information.

Adjusting events are those providing evidence of conditions existing at the end of the reporting period, whereas non-adjusting events are indicative of conditions arising after the reporting period (the latter being disclosed where material).

The two types of events are: those that provide evidence of conditions that existed at the end of the reporting period (adjusting events); and. those that are indicative of conditions that arose after the reporting period (non-adjusting events).

There are generally two types of subsequent events. 1)The first is a recognized event whereas the second is a non-recognized event. Recognized or type 1 subsequent events are typically events that occurred at the financial statement date. But that may have concluded after the year end.

Examples of adjusting events given in IAS 10 are the resolution of a court case, as the result of which a provision has to be recognised instead of the disclosure by note of a contingent liability; evidence of impairment of assets; bankruptcy of a major customer;

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232