Adjusting and non adjusting events?

This topic has 4 replies, 3 voices, and was last updated 14 years ago by Kuso.

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March 5, 2012 at 5:23 am #51584
nrjsma
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In the case of events after the reporting date, why loss of a major customer is adjusting event as baddebt where as the fire in the factory is non adjusting event?
March 5, 2012 at 12:04 pm #94771
Ken Garrett
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This is explained in the lecture and notes.
March 6, 2012 at 6:43 am #94772
nrjsma
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Sir, we couldn’t find. Would you please identify in which lecture and note?
March 6, 2012 at 8:08 am #94773
Ken Garrett
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Look here: Events after the reporting date
March 24, 2012 at 9:01 pm #94774
Kuso
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Fire mostly occurred after the year end date, so this does not show facts at year end, while the baddebts if its few months after year end, it means this was the case at year end we just did not know about it,
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