CERTYNEX IFRS ACADEMY

A warehouse of Chervouël is flooded three weeks after the reporting date, before the accounts are authorised. How should this event be classified?

Adjusting event if the loss exceeds profit for the year.

Adjusting event: it occurs before the accounts are authorised.

Non-adjusting event: the condition arose after the reporting date.

Out of scope: it relates to the following year only.