IAS 10 Events After the Reporting Period Flashcards
1
Q
Court case ongoing at year-end, and outcome confirmed after year-end
A
Adjusting event
2
Q
A major customer went bankrupt due to pre-existing financial problems
A
Adjust
3
Q
Errors or fraud identified after year-end
A
Adjusting
4
Q
Inventory valuation errors discovered.
A
Adjust
5
Q
Fire, flood, or natural disaster after year-end.
A
Non-adjust
6
Q
New lawsuit filed after reporting date.
A
Non-adjust
7
Q
Business merger/acquisition announced post-year-end
A
Non-adjust
8
Q
Share price drop due to market crash after year-end.
A
Non-adjust
