CERTYNEX IFRS ACADEMY

In February, Vaitorn's shareholders decide to liquidate it. For the accounts at 31 December, the accountant keeps the going concern basis and merely writes down some inventories. What is the error?

Writing down inventories instead of non-current assets.

Keeping the going concern basis and adjusting a few amounts, when a fundamental change of basis is required.

There is no error: the decision comes after the reporting date and does not concern these accounts.

Not deferring the liquidation decision to the following year.