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Event after the reporting period: An event, which could be favourable or unfavourable, that occurs between the end of the reporting period and the date that the financial statements are authorised for issue. [IAS 10.3]
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.
Jun 30, 2020 · In accordance with MFRS 110 ‘Events after the Reporting Period’, entities are required to distinguish between subsequent events that are adjusting (ie those that provide further evidence of conditions that existed at the reporting date) and non-adjusting (ie those that are indicative of conditions that arose after the reporting date).
Events after the reporting period are those events, favourable and unfavourable, that occur between the end of the reporting period and the date when the financial statements are authorised for issue.
IAS 10 Events after the Reporting Period provides guidance as to which events after the balance sheet date should lead to adjustments in the financial statements and which events shall be disclosed in the notes to financial statements.
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.
Events after the reporting period are those events, favourable and unfavourable, that occur between the end of the reporting period and the date when the financial statements are authorised for issue.
When should you consider events after the reporting period? By definition (IAS 10. 3), events after the reporting period are those events, both favorable and unfavorable, that occur between: The end of the reporting period, and; The date when the financial statements are authorized for issue.
Apr 20, 2020 · IAS 10, Events After The Reporting Period contains requirements for when events after the end of the reporting period should be adjusted in the financial statements. 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 ...
IAS 10 Events after the Reporting Period. Objective. This Standard prescribes when an entity should adjust its financial statements for events after the reporting period and the disclosures that should be given about the date when the financial statements were authorised for issue and about the events after the reporting date. Scope.
