龚玲玲ccaa.F3 EP网课 (17).pdf

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1、Events after the reporting period 考试类型考试类型考题数量考题数量分值分值难度难度Section A2 Qs4 marksSection B-01010202Adjusting events & Non-adjusting events Events after the reporting periodEvents after the reporting period 1. Events after reporting period 1.1 Reporting period 1.1 20X7 31.12 20X7 Reporting period = 20X7

2、 Financial year After reporting period = 20X8Year end Auditors opinionAuditors opinion Board approved1. Events after reporting period 1.1 Reporting period 1.1 20X7 31.12 20X7 Financial year = reporting period After reporting period 1.2 Events after reporting period Events, both favourable and unfavo

3、urable, that occur between the end of the reporting period and the date when the financial statements are authorised (confirmed/ approved) for issue.1. Events after reporting period 1.3 Events after reporting period必胜口诀2. Events relate to conditions aroseaftertheendof reporting period1. Events provi

4、de further evidenceofconditions existed at the reporting dataNot material20X8 F/SNon-Adjusting eventsMaterial not affect going concern Disclose in notes of 20X7 F/reportMaterial affect going concern Adjust 20X7 F/S break up basisAdjusting eventsAdjust 20X7 F/S2. Adjusting events & Non-adjusting even

5、ts 2. Events relate to conditions arose after the end of reporting period1. Events provide further evidence of conditions existed at the reporting dataAdjusting events (Adjust 20X7 F/S)(1) Resolution (settlement) of court case after reporting date (2) Asset impairment (3) Bankruptcy of major custome

6、r confirms irrecoverable debt (4) Evidence of inventories sale at price lower than cost (NRV) (5) PPE purchased/sold (disposal/proceeds ) before Dec.31, price confirmed after Dec. 31 (6) Fraud/errorsMaterial events affect going concern i.e.aflood/fire destroy all the assets of a co. cause going conc

7、ern problemNon-Adjusting events (disclose in note - nature/fin. effect)(1) Announcing a plan to discontinue an operation (2) Major purchase of assets (3) Destruction of assets by fire or flood (4) Entering into significant commitments or contingent liabilities (5) Commencing a court case (6) Issue o

8、f shares or loan notes 必胜口诀01010202Adjusting events & Non-adjusting events Events after the reporting periodEvents after the reporting period Which of the following material events after the reporting period and before the financial statements are approved by the directors should be adjusted for in

9、those financial statements?1. A valuation of property providing evidence of impairment in value at the reporting period2. Sale of inventory held at the end of the reporting period for less than cost3. Discovery of fraud or error affecting the financial statements4. The insolvency of a customer with

10、a debt owing at the end of the reporting period which is still outstandingA.All of them B.1, 2 and 4 onlyC. 3 and 4 onlyD. 1, 2 and 3 only热门考法：热门考法： adjusting events/ non-adjusting events / disclosure精选必做题精选必做题- -1 1（理论题）（理论题）IAS 10 Events after the reporting period regulates the extent to which eve

11、nts after the reporting period should be reflected in financial statements.Which one of the following lists of such events consists only of items that, according to IAS 10, should normally be classified as non-adjusting?A. Insolvency of an account receivable which was outstanding at the end of the r

12、eporting period, issue of shares or loan notes, an acquisition of another companyB. Issue of shares or loan notes, changes in foreign exchange rates, major purchases of non-current assetsC. An acquisition of another company, destruction of a major non-current asset by fire, discovery of fraud or err

13、or which shows that the financial statements were incorrectD. Sale of inventory which gives evidence about its value at the end of the reporting period, issue of shares or loan notes, destruction of a major non-current asset by fire热门考法：热门考法： adjusting events/ non-adjusting events / disclosure精选必做题精

14、选必做题- -2 2（理论题）（理论题）Which Two of the following are correct, according to IAS 10 Events afterreporting period ?A. An event that occurs between the reporting date and the date on which thefinancial statements are authorised for issue that provides further evidence ofconditions that existed at the repo

15、rting dateB.If a material event occurs after the reporting date but before the financialstatements are authorised for issue outside the organisation, and this event doesNOT require adjustment, the information should be disclosed in the financialstatements are the nature of the event and an estimate of the financial effect (or astatement that such an estimate cannot be made)C. Issue of share and loan notes are non-adjusting eventsD. A valuation of land providing evidence of impairment in value at the year endis adjusting events.精选必做题精选必做题- -3 3（理论题）（理论题）http:/Thank You感谢您选择高顿网校 本节结束！