Events after Reporting Date

May 8, 2026

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The document explains how to account for events occurring between a reporting date and the publishing date of financial statements, focusing on the distinction between adjusting and non-adjusting events. It frames the financial year from 1 April 2019 to 31 March 2020 and describes how events that directly affect amounts recognized in the statements must be reflected if the information becomes known before publication. Illustrations include a customer’s insolvency confirming irrecoverable debt, court settlements confirming obligations, asset impairment evidence, customer bankruptcy, inventory sales below cost, and discovery of fraud or errors. It concludes by contrasting these with non-adjusting events that do not affect the financial statements.

LanguageEnglish

CategoryExam

FormatPDF

Pages1

Reading Time3 min

May 8, 2026

Upload by Aria