IAS 10

by Events after Reporting Period

Jamshaid Akhtar ACA -could be favorable/unfavorable
-occurred between end of reporting period
and date of FS authorized for issue

Non-Adjusted Events
Adjusted Events (AE)
(NAE)

Provide further Indicative of

evidence of conditions conditions arose after
existed at the end of the end of reporting
reporting period period

Accounting 

Adjust FS
(accounting entry) Do not Adjust FS

e.g. If after reporting period Disclose if Material

-if GC assumption is not appropriate (if non-disclosure would affect
-settlement of court case  ability of users to make proper
-assets were impaired (bankruptcy of decision)
customer, NRV of inventory sold
-cost of asset purchased or proceed of
asset sold
-profit sharing or bonus payment if
legal or constructive obligation at
Disclosure would include;
reporting date
-nature of event
-fraud or errors discovered
-estimate of financial effect (or
reason if effect cannot be calculated

e.g.If after reporting period

-dividend declared (disclosure only)
-decline in FV value of investment
-major business combination
-announcing plan to discontinue operation
-major purchase, disposal and
classification of asset as held for sale
-destruction of major plant by fire
-announcing/commencing restructuring

-Update disclosure if it is already exist based on new info received after reporting period.
-Disclose date when FS authorize and who gave authorization