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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › adjusting V/s Non-adjusting event
sir if an asset has been held for sale by a company, and it only gets sold after the reporting date but before the issue of financial statements, then isn’t this an adjusting event? it confirms a sale, providing a new evidence on a condition that existed at year end.
If you look at inventory, its sale after reporting date is considered an adjusting event, so then why not so incase of an asset held for sale?
I can see your argument conceptually BUT:
1.If I remember IAS 10 lists sale of NCA as non-adjusting.
2 Inventory – not always adjusting – depends on scenario – if there was a government ban imposed after the year end, it would be non-adjusting