Events after the reporting period
Events after the reporting period are favourable or unfavourable events between the reporting date and the date the financial statements are authorised for issue. Adjusting events give evidence of conditions at the reporting date and change the amounts. Material non-adjusting events relate to later conditions and normally require disclosure of their nature and estimated financial effect. Going concern may require a different preparation basis.
Worked example
A major new share issue after year end is normally non-adjusting, whereas a later settlement confirming an existing legal obligation may be adjusting.
Common mistake
The relevant end date is authorisation for issue, not automatically the audit date, filing date or shareholders’ meeting.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | FA | Direct | September 2026–June 2027 |
| ACCA | FR | Direct | Official assessment-window verification pending |
| ACCA | K1 | Direct | July 2027–August 2028 |
| ACCA | SBR | Direct | Official assessment-window verification pending |
| CIMA | BA3 | Direct | Official assessment-window verification pending |
| CIMA | F1 | Direct | Official assessment-window verification pending |
| FIA | FFA | Direct | September 2026–June 2027 |