Question bank — IAS 10 — Events after the Reporting Period
160 questions in FR/EN/ES, scored by the real scoring engine.
Objective and scope of the standard9 questions
- IAS 10 prescribes when an entity adjusts its financial statements for events occurring after the end of the reporting period.True / falseL1
- IAS 10 deals only with recognition: it requires no disclosure about the date of authorisation for issue.True / falseL1
- Under IAS 10, an entity cannot prepare its financial statements on a going concern basis if events after the reporting period show that this basis is not appropriate.True / falseL1
- IAS 10 applies only to unfavourable events occurring after the reporting period.True / falseL1
- The scope of IAS 10 covers both the accounting for events after the reporting period and the disclosures about them.True / falseL1
- Which of these topics is part of the objective of IAS 10?Single choiceL1
- Which going concern rule is part of the objective of IAS 10?Single choiceL1
- Chedenne wonders whether IAS 10 applies to a favourable contract signed after its reporting date. What is the answer?Single choiceL1
- Which combination best describes what IAS 10 covers?Single choiceL1
The window of events after the reporting period14 questions
- The period of events after the reporting period ends on the date the entity publicly announces its profit.True / falseL1Variant
- An event occurring between the public profit announcement and the date of authorisation for issue is still an event after the reporting period under IAS 10.True / falseL2Variant
- An event after the reporting period may be favourable to the entity.True / falseL1
- An event occurring after the reporting period is always a non-adjusting event, since it did not exist at the reporting date.True / falseL2
- Which period do events after the reporting period cover?Single choiceL1
- What characterises an adjusting event after the reporting period?Single choiceL1
- A warehouse of Chervouël is flooded three weeks after the reporting date, before the accounts are authorised. How should this event be classified?Single choiceL2
- Chydois has a 31 December 2025 year-end, announces its profit on 20 February 2026 and its accounts are authorised on 12 March 2026. A customer goes bankrupt on 2 March 2026. Is this event within the IAS 10 window?Single choiceL2
- Among these events occurring between the reporting date and the authorisation of Chytix's accounts, which provide evidence of a condition existing at the reporting date?Multiple choiceL2
- Chésax has a 30 June 2025 year-end; it issues a press release on its revenue on 25 July, its accounts are authorised on 5 September and approved by the meeting on 10 October. Which events fall within the IAS 10 window?Multiple choiceL2
- Which events after the reporting period indicate a condition that arose after Clairouël's reporting date?Multiple choiceL2
- Clirgal's accountant ends the review of events after the reporting period on the day of the annual profit announcement, three weeks before the accounts are authorised. What is the error?Single choiceL2
- Drairade classifies as 'non-adjusting' a judgment handed down after the reporting date on an accident that occurred during the year, on the ground that the judgment comes later. What is the error?Single choiceL2
- Draurgane adjusts its accounts for the sudden fall, one month after the reporting date, in demand for a product, on the ground that the event is known before authorisation. Sales of this product were normal up to the reporting date. What is the error?Single choiceL2
The date of authorisation for issue16 questions
- The process for authorising financial statements for issue is the same for all entities.True / falseL1
- When shareholders approve the financial statements after they have been issued, the date of authorisation for issue is the date of the shareholders' meeting.True / falseL1
- If management must submit the financial statements to a supervisory board made up solely of non-executives, they are authorised for issue once management authorises their submission to that board.True / falseL1
- An entity's financial statements are issued, then later approved by its shareholders. Which date of authorisation applies?Single choiceL1
- An entity's management must submit its financial statements to a supervisory board made up solely of non-executives. When are they authorised for issue?Single choiceL1
- Under IAS 10, what does the process of authorising financial statements for issue depend on?Single choiceL2
- Geulot issues its accounts on 8 April; the meeting approves them on 28 May. A dispute arises on 2 May. Why is this dispute not an event after the reporting period for these accounts?Single choiceL2
- Which statements about the date of authorisation for issue are correct?Multiple choiceL2
- At Gevenne, management authorises on 4 March the submission of the accounts to its supervisory board (non-executives only), which approves them on 19 March; they are released on 24 March. Which statements are correct?Multiple choiceL2
- Grernade has a 31 December 2025 year-end. Its board of directors finalises and issues the accounts on 18 March 2026; the shareholders' meeting approves them on 26 May 2026. What is the date of authorisation for issue?Single choiceL2Variant
- The cooperative Gergax, with a 30 September 2025 year-end, releases its financial statements to its members on 9 December 2025; they approve them at a meeting on 20 January 2026. A fire hits a silo on 5 January 2026. What should be concluded?Single choiceL2Variant
- Grimys's management board authorises on 3 March 2026 the submission of the 2025 accounts to the supervisory board, made up of non-executives. The board approves them on 17 March; they are issued on 20 March. What is the date of authorisation for issue?Single choiceL2
- At Grirgence, management authorises on 2 February the submission of the accounts to the supervisory board (non-executives), which approves them on 25 February. On 12 February, a major customer is placed in liquidation. How should this event be treated in these accounts?Single choiceL3
- Griscane issues its 2025 accounts on 14 April 2026. On 2 May, before the meeting on 19 May, it learns that a customer, already in difficulty at the reporting date, is bankrupt. The finance director proposes to adjust the issued accounts. What is the answer?Single choiceL3
- The Gritia group, with a management board and a supervisory board of non-executives, then submits its accounts to the shareholders' meeting. Write a note determining the date of authorisation for issue and its consequences for the review of events after the reporting period.JudgmentL3
- Grutenne's board of directors finalises the accounts on 6 March, issues them on 13 March, and the meeting approves them on 22 May. The internal auditor argues that the window runs until 22 May. Write a reasoned reply.JudgmentL3
Adjusting events30 questions
- An entity adjusts the amounts recognised in its financial statements to reflect adjusting events after the reporting period.True / falseL1
- The settlement after the reporting period of a court case confirming a present obligation existing at the reporting date is dealt with by a note disclosure only.True / falseL1
- The discovery, before the accounts are authorised, of a fraud showing that the financial statements are incorrect is an adjusting event.True / falseL1
- Which of these events after the reporting period is an adjusting event?Single choiceL1
- The amount of a profit-sharing bonus for the year just ended is determined after the reporting period. In which case is this determination an adjusting event?Single choiceL2
- An adjusting event is identified in February 2026 for accounts with a 31 December 2025 year-end. Which amounts are adjusted?Single choiceL2
- A machine bought in December 2025 has its final price set in January 2026, after its performance has been measured. How should this information be treated in the 2025 accounts?Single choiceL2
- Which of these events, occurring before the accounts are authorised, are adjusting events?Multiple choiceL2
- A customer of Plaurvian is declared bankrupt in February 2026. Which factors indicate that its position had already deteriorated at 31 December 2025?Multiple choiceL3
- A customer of Gryrnot, in difficulty since autumn 2025, is declared bankrupt in February 2026. The receivable amounts to …; a loss allowance of … is already recognised at 31 December 2025. The administrator announces a recovery of … (case data). What additional amount should be recognised at 31 December 2025?CalculationL2Variant
- At Grysore, no loss allowance (…) was recognised on a receivable of … from a distributor that was falling into arrears before the reporting date. Its liquidation, ordered in January, points to a recovery of … (case data). What allowance should be recognised at the reporting date?CalculationL2Variant
- Grésine sold parts to a garage whose 2025 accounts already showed negative equity. The garage enters administration in March 2026, before the accounts are authorised; the plan provides for repayment of … (case data). Receivable: …; existing allowance: …. What additional amount at 31 December 2025?CalculationL3Variant
- Gulbane holds … items of an end-of-life range at the reporting date, at a unit cost of …. In January, it sells them all at a unit price of …, with unit selling costs of …. What amount should be recognised at the reporting date and what write-down?CalculationL2Variant
- A batch of … industrial pumps, costing … each, is held in Jairnane's inventory at the reporting date; a design defect had been known since November. They are sold in February at … each, with selling costs of … each. Determine the inventory amount and the write-down at the reporting date.CalculationL3Variant
- Jaurvot had provided … at 31 December 2025 for a commercial dispute. In February 2026, before authorisation, the dispute is settled for …. The expense will be deductible when paid and the deferred tax asset is recoverable at a rate of … (case data). Calculate the additional provision and the net effect on 2025 profit.CalculationL3
- A company agreement requires Jylbix to pay its staff … of its 2025 profit. That profit, finalised in February 2026 before the accounts are authorised, amounts to …; an estimate of … had been recognised at the reporting date. What additional amount should be recognised in 2025?CalculationL2
- In February, a court orders Metence to compensate a customer for a defective delivery made in November. The accountant merely describes a contingent liability in the notes to the accounts for the year ended 31 December. What is the error?Single choiceL2
- In February 2026, Meurgence identifies an additional loss allowance on a receivable doubtful at 31 December 2025. It records it in its January 2026 books. What is the error?Single choiceL2
- A customer of Milbouël, in arrears since the summer, is put into liquidation in February. The accountant immediately classifies the event as non-adjusting, 'since the liquidation comes later'. What is the error?Single choiceL3
- Jyvian had recognised a provision of … at 31 December for a dispute with a subcontractor. In January, before the accounts are authorised, a settlement agreement is signed for …. Record the adjusting entry at 31 December.Journal entryL2Variant
- At 31 December, Karnenne had provided … for a claim brought by a former distributor. The judgment handed down in February, before authorisation, orders it to pay …. Record the adjusting entry.Journal entryL2Variant
- A customer of Keusence, insolvent since December, is liquidated in February with no assets (no recovery expected, case data). The receivable amounts to … and a loss allowance of … already exists. Record the entry at 31 December.Journal entryL3
- Fabric inventory from a past collection, at a cost of … at 31 December, is sold in January by Koscenne for proceeds net of selling costs of …. Record the entry at 31 December.Journal entryL2
- In February 2026, before the 2025 accounts are authorised, Leulbia discovers that an employee embezzled … in 2025, disguising the payments as advances to fictitious suppliers. Record the correcting entry in the 2025 accounts.Journal entryL3
- At 31 December, Maudade disclosed a contingent liability for pollution caused in October. In March, before authorisation, it agrees to pay …, which confirms the obligation at the reporting date. The expense will be deductible when paid; deferred tax asset recoverable at a rate of … (case data). Record the entries.Journal entryL3
- Naidenne sold a building in December 2025 with additional consideration depending on a technical audit. The audit, completed in February 2026 before authorisation, sets the final price. What should be done in the 2025 accounts?Single choiceL2
- A customer of Neulvot, solvent and up to date with its payments at 31 December, sees its only plant destroyed by fire on 15 January and files for bankruptcy in February. How should the receivable be treated in Neulvot's accounts?Single choiceL3
- At 31 December, Neumois holds phones of a model replaced by its manufacturer in November. In January, it sells them below cost. What should be concluded for the accounts at 31 December?Single choiceL3
- Before its 2025 accounts are authorised, Neurgouël discovers two facts: the physical count at 31 December was inflated by a depot manager, and goods were stolen on 20 January 2026. Which treatment applies?Single choiceL4
- A major customer of Plainot files for bankruptcy in February. It had been paying late since October, but its failure was hastened by the loss, in January, of its main contract. Write the analysis note on the treatment of the receivable in the accounts at 31 December.JudgmentL4
Non-adjusting events22 questions
- An entity does not adjust the amounts recognised to reflect non-adjusting events after the reporting period.True / falseL1
- A fall in the fair value of investments between the reporting date and the authorisation date must be reflected in their carrying amount at the reporting date.True / falseL1
- The destruction of a major plant by a fire after the reporting period is a non-adjusting event.True / falseL2
- Between the reporting date and authorisation, which fact reveals a condition arising after the reporting date, without changing the amounts recognised?Single choiceL1
- Why is a fall in the fair value of investments after the reporting period normally not adjusted?Single choiceL2
- After a sharp post-period fall in its investments, Plundard wonders whether it should change the disclosures already prepared about those investments at the reporting date. What is the answer?Single choiceL2
- A new corporate income tax rate is enacted one month after the reporting date and significantly changes the entity's deferred taxes. How is it treated?Single choiceL2
- Which of these events after the reporting period does IAS 10 cite as non-adjusting and generally requiring disclosure?Multiple choiceL2
- The value of an unlisted investment held by Plyrian falls in February. Which factors suggest that part of this fall reveals a condition that already existed at the reporting date?Multiple choiceL3
- Plerouël's listed investments are worth … at 31 December and … at the authorisation date, after a general market fall in February. What amount should be recognised at the reporting date and what fall should be quantified for disclosure?CalculationL2Variant
- Plorys holds … listed shares measured at fair value. The price is … at the reporting date and then … when the accounts are authorised, following a profit warning issued by the issuer in January. Quantify the amount at the reporting date and the fall.CalculationL2Variant
- Plotard's main warehouse, with a carrying amount of … at 31 December, is destroyed by fire on 10 February. The insurer is expected to pay … (case data). What amount should be kept at the reporting date and what net loss should be estimated for disclosure?CalculationL3
- At 31 December, Pléscian's copper inventory is carried at …, its net realisable value then being higher. In January, an abnormally large price change brings its value down to …. What amount should be kept at the reporting date and what effect should be quantified for disclosure?CalculationL3
- Quaimys reduces its listed investments at 31 December to their value at the authorisation date, after a market fall in February. What is the error?Single choiceL2
- A flood in January destroys a plant of Queutane, intact at 31 December. The accountant recognises an impairment loss in the accounts for the year ended 31 December. What is the error?Single choiceL2
- Quolvenne treats as entirely post-period the fall in value, in February, of an unlisted investment, although the investee's audit reveals losses already incurred before the reporting date. What is the error?Single choiceL3
- Three weeks after the reporting date, Quuscia signs the acquisition of a competitor that will double its size. How is it treated in the accounts for the year just ended?Single choiceL2
- In February, the State expropriates a major plot of land of Quusian for an infrastructure project decided in January. The land was being used normally at the reporting date. How should the treatment be justified?Single choiceL2
- Quymade's deferred taxes at 31 December are measured at the rate in force at that date. In February, a law significantly raising that rate is enacted. The finance director wants to remeasure the reporting-date deferred taxes. What is the answer?Single choiceL3
- Quyrard's board approves a major restructuring in January, announced to staff in February. No decision or announcement existed at 31 December. The controller proposes a provision at the reporting date 'because the difficulties date from the year'. What should be concluded?Single choiceL3
- After a geopolitical crisis triggered in January, Quélal's listed portfolio loses a quarter of its value before the accounts are authorised. The audit committee asks why the accounts at 31 December are not adjusted. Write the justification note.JudgmentL3
- Between the reporting date and authorisation, Quésal experiences three events: a fire at a small archive building, the acquisition of a group equal to 40% of its size and a sharp move in a currency in which it holds large receivables. Write the classification and disclosure note.JudgmentL3
Dividends declared after the reporting period11 questions
- Dividends declared to shareholders after the reporting period are recognised as a liability at the end of the reporting period.True / falseL1
- Dividends declared after the reporting period but before the financial statements are authorised for issue are disclosed in the notes.True / falseL1
- Why is a dividend declared after the reporting period not a liability at the reporting date?Single choiceL1
- Ratard's board declares in February a dividend for the year ended 31 December; the accounts are authorised in March. How does this dividend appear in the accounts for the year just ended?Single choiceL2
- Sastard, whose share capital comprises … shares, has a 31 December year-end. On 20 February, before the accounts are authorised, its board declares a dividend of … per share. What liability should be recognised at 31 December and what amount disclosed in the notes?CalculationL2Variant
- A dividend of … per share is declared on 5 March on the … shares of Seundix, whose accounts for the year ended 31 December are authorised on 25 March. Determine the dividend liability at the reporting date and the amount to disclose in the notes.CalculationL2Variant
- Staimenne's draft statement of financial position at 31 December shows current liabilities of …, including a dividend of … declared on the following 12 February. What amount of current liabilities should be presented at the reporting date?CalculationL2
- Styrnot records 'Retained earnings / Dividends payable' at 31 December for a dividend its board declared on the following 18 February. What is the error?Single choiceL2
- Syrgia, which declared a significant dividend on 3 March, before its accounts were authorised on 24 March, does not recognise it as a liability and says nothing about it in its notes. What is the error?Single choiceL2
- Syscore has a 31 December 2025 year-end; on 10 March 2026, its board declares a dividend of …. No entry is made at 31 December 2025. Record the entry at the declaration date, in 2026.Journal entryL2
- In its draft accounts at 31 December, Sérouël recorded a liability of … for a dividend its board declared on the following 14 February. Record the correcting entry at 31 December.Journal entryL2
Liquidation or cessation decided after the reporting period19 questions
- In which case must an entity not prepare its financial statements on a going concern basis under IAS 10?Single choiceL2
- An entity's results and financial position deteriorate sharply after the reporting period. What must it do?Single choiceL2
- If the going concern assumption is no longer appropriate after the reporting period, what is the effect on the financial statements?Single choiceL3
- Which standard, according to IAS 10, specifies the disclosures about material uncertainties related to going concern?Single choiceL2
- Which of these situations, arising after the reporting period, prevent the accounts from being prepared on a going concern basis?Multiple choiceL2
- Which statements about going concern and events after the reporting period are correct?Multiple choiceL3
- Under IAS 10's reference to IAS 1 (wording before IFRS 18), in which situations are going concern disclosures required?Multiple choiceL3
- 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?Single choiceL3
- After the reporting period, Vaurval loses its two main customers and its cash collapses. Management assesses going concern solely on the basis of the position at 31 December. What is the error?Single choiceL2
- In February, Vausade's bank refuses to renew its credit line; negotiations are under way. Management considers the going concern assumption still appropriate but acknowledges a material uncertainty, without saying anything about it in the notes. What is the error?Single choiceL3
- Vaustouël has a 31 December year-end. On 25 February, before the accounts are authorised, its shareholders vote to dissolve and liquidate the company. On what basis should the accounts for the year just ended be prepared?Single choiceL3Variant
- Virgence runs a single licensed activity. In January, the authority permanently withdraws the licence; no conversion is possible and management concludes, before authorisation, that the activity will have to cease. What is the consequence for the accounts at 31 December?Single choiceL3Variant
- In January, Vrairois loses a contract accounting for 60% of its revenue and builds up monthly losses. No decision to cease trading is taken. What must management do before authorising the accounts at 31 December?Single choiceL2
- After the reporting period, Vraistine's main lender demands early repayment of a loan; refinancing is at an advanced stage of negotiation. Management concludes that the going concern assumption remains appropriate, with a material uncertainty. Which treatment applies?Single choiceL3
- After the reporting period, Vrarnys's board considers selling its businesses in the face of difficulties, but an investor has made a firm recapitalisation offer that management considers realistic. No decision to cease trading is taken. What should be concluded on the basis of preparation?Single choiceL4
- Vrascade's only plant, uninsured, is destroyed by fire in February. Lacking the means to rebuild it, management concludes before authorisation that it has no realistic alternative but to cease trading. The accountant proposes simple disclosure of the fire. What is the answer?Single choiceL4
- In January, Vrondade lost its only industrial customer; two rescue options are being studied, with no commitment. The board must authorise the accounts at 31 December in ten days. Write the note on whether the going concern assumption is appropriate.JudgmentL4
- Between the reporting date and authorisation, Vrovac suffers a long strike, the termination of a credit line and a fall in orders. Write a note identifying the factors that require going concern to be reconsidered and the disclosures to consider.JudgmentL3
- In February, Vrunix's management decides to close one of its two businesses, the second, profitable one being continued. A director argues that the accounts can no longer be prepared on a going concern basis. Write a reasoned reply.JudgmentL4
Disclosing the date and author of authorisation9 questions
- An entity discloses the date when its financial statements were authorised for issue and the body or persons who gave that authorisation.True / falseL1
- If the entity's owners have the power to amend the financial statements after issue, the entity discloses that fact.True / falseL1
- Knowing the date of authorisation for issue is of no use to users of the financial statements.True / falseL1
- Which statement meets the IAS 10 requirement on authorisation for issue?Single choiceL1
- Why does IAS 10 regard disclosure of the date of authorisation for issue as important?Single choiceL2
- Tairgac's articles allow the meeting to amend the accounts after issue. What must it disclose, in addition to the date and the authorising body?Single choiceL2
- Tergal's note reads: 'Accounts authorised for issue on 9 March 2026.' What is the error?Single choiceL1
- Tevède's notes merely state that 'the accounts will be approved by the meeting on 15 June'. What is the error?Single choiceL2
- Under its articles, Traulbard's meeting can amend the accounts after issue. Its note states the authorisation date and the board that gave it, with nothing more. What is the error?Single choiceL2
Updating disclosures about conditions at the reporting date11 questions
- When an entity receives information after the reporting period about conditions that existed at the end of the period, it updates the disclosures about those conditions.True / falseL2
- Information received after the reporting period that changes no recognised amount never requires the notes to be updated.True / falseL2
- The events that give rise to disclosures about material uncertainties related to going concern may arise after the reporting period.True / falseL2
- After the reporting period, an entity obtains evidence about a contingent liability that existed at 31 December, without the conditions for a provision being met. What must it do?Single choiceL2
- Which disclosures does an entity update in the light of information received after the reporting period?Single choiceL2
- Which of these items of information received after the reporting period leads Zairvence to update an existing note?Single choiceL3
- At 31 December, Zorgouël discloses a contingent liability for a customer claim. In February, the court-appointed expert puts the claim at three times the amount, the outflow remaining unlikely. The note is left unchanged. What is the error?Single choiceL2
- At 31 December, Zélvix describes in a note a guarantee given for a partner, with the maximum exposure 'to be confirmed'. In January, the partner provides the final amount of the guaranteed debt. The note keeps the words 'to be confirmed'. What is the error?Single choiceL3
- Since October, Zéstine has faced a claim from a competitor; at 31 December, an outflow is considered unlikely and a contingent liability is disclosed. In February, an expert report narrows the range at stake, the outflow remaining unlikely. Which treatment applies?Single choiceL2
- In February, Zéstix receives two items of information: new evidence on a tax dispute opened in September, and a lawsuit brought by a customer over a February delivery. Which one leads to updating an existing note?Single choiceL3
- At 31 December, Drilède discloses a material uncertainty about going concern, linked to a loan maturity. In February, its bank confirms five-year refinancing. What should be done with this note before authorisation?Single choiceL3
Disclosures on material non-adjusting events19 questions
- What must an entity disclose for each material category of non-adjusting events?Single choiceL2
- The financial effect of a material non-adjusting event cannot be estimated at the authorisation date. What must the entity do?Single choiceL2
- Under IAS 10, when is a non-adjusting event material enough to require disclosure?Single choiceL3
- A higher tax rate is announced after the reporting period, with a significant effect on deferred taxes. What disclosure should be provided in the accounts for the year just ended?Single choiceL3
- Which items make up the disclosure required for a material non-adjusting event?Multiple choiceL2
- Which of these events after the reporting period are among the IAS 10 examples that generally require disclosure?Multiple choiceL3
- Fleunenne, with total assets of 40 million, identifies several events after the reporting period. Which ones probably require disclosure given their effect on users' decisions?Multiple choiceL3
- Flastois's main plant (carrying amount …) is destroyed by an explosion on 8 February, with no inventory inside (…). The insurer has confirmed proceeds of … (case data). What loss should be recognised at 31 December and what financial effect estimated in the notes?CalculationL3Variant
- A fire on 3 March destroys Flindouël's production site: buildings and machinery (…) and stored inventories (…). Insurance will cover … (case data). The accounts at 31 December are not yet authorised. State the loss at the reporting date and the financial effect to disclose.CalculationL3Variant
- Flolbix has taxable temporary differences of … at 31 December; its deferred tax liability is measured at the … rate applicable at the reporting date (case data). In February, a rate of … is announced. What liability should be kept at the reporting date and what effect disclosed?CalculationL3
- On 15 February, before its 2025 accounts are authorised, Flosia issues … new ordinary shares at a price of …. What amount of the transaction should be given in the disclosure of events after the reporting period?CalculationL2
- Vryrvorn's note reads: 'A fire destroyed our main warehouse in February.' No further detail is given, although the event is material. What is the error?Single choiceL2
- In February, Vréndore acquires a group the same size as itself. Its notes on events after the reporting period say nothing about it, 'since the transaction does not change the accounts for the year'. What is the error?Single choiceL3
- Vuscia remeasures its deferred taxes at 31 December at the new rate announced by the government in January, and gives no disclosure of the change. What is the error?Single choiceL3
- In February, a foreign regulator suspends the operating licence of Féstax's main subsidiary. The event is material; its financial effect cannot yet be estimated at the authorisation date. What disclosure applies?Single choiceL2
- After the reporting period, Dreuscade loses a customer accounting for 1% of its revenue and signs the disposal of a division representing 30% of its assets. Which event(s) should be disclosed?Single choiceL3
- In February, an accident at a Vuvois site, occurring that same month, leads local residents to bring a major claim against it; the outcome and amount are highly uncertain. How is it treated in the accounts at 31 December?Single choiceL4
- Between the reporting date and authorisation, Foscot suffers a flood at a warehouse, acquires a competitor and completes a capital increase. Draft the note on non-adjusting events after the reporting period.JudgmentL4
- Féstax's audit committee challenges the decision not to disclose three events after the reporting period that management considers 'minor': a dispute with a supplier, the closure of a branch and a 12% fall in a billing currency. Write an assessment note.JudgmentL4