IAS 10Chapter 2Lesson 1
The window of subsequent events: adjusting or not
Step 1 of 8Learning objectives
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Events after the reporting period are those, favourable or unfavourable, that occur between the end of the reporting period and the date of authorisation for issue, even after the public announcement of profit. Those that provide evidence of conditions existing at the reporting date are adjusting; those indicative of conditions arising afterwards are non-adjusting.
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Learning objectives
- Identify the period covered: from the reporting date to the date of authorisation, including after the announcement of profit.
- Distinguish an adjusting event from a non-adjusting event.