FAR Subsequent Events Flashcards
1
Q
What is the subsequent event evaluation period of a filer (an entity that files its financial statements with the SEC)
A
It is through the date that the F/S are issued and is the date the F/S have been widely distributed to F/S users in the form and format that comply with GAAP.
2
Q
What is the subsequent event evaluation period of a NON-filer (an entity that does not files its financial statements with the SEC)
A
It is through the date the F/S are available to be issued. ie the date that the F/S are in the form and format that comply with the GAAP and all approvals for issuance have been obtained.
