IAS 10 Events after the Reporting Period
IAS 10 addresses events between the reporting date and the date financial statements are authorised for issue. It distinguishes adjusting events, which provide evidence of conditions existing at reporting date, from non-adjusting events. A major fire occurring after year end generally indicates a new condition; if material, disclose its nature and estimated financial effect where practicable.
Worked example
A customer bankruptcy after year end may confirm that a receivable was impaired at year end.
Common mistake
Adjusting year-end amounts for every post-reporting event without considering when the condition arose.
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 |
| CIMA | BA3 | Direct | Official assessment-window verification pending |
| CIMA | F1 | Direct | Official assessment-window verification pending |
| FIA | FFA | Direct | September 2026–June 2027 |
Related terms
Also called: IAS 10