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Which one of the following is a disclosure about non-adjusting events required by IAS 10 Events After the Reporting Period?
A Dividends declared before the end of the reporting period and paid after the end of the
reporting period
B The nature of both material and non-material non-adjusting events
C The date that the non-adjusting event occurred
D An estimate of the financial effect of the event, unless a reasonable estimate cannot be madeThe answer is D
Can you please explain statement D?Non adjusting events should be disclosed by way of note, and the financial effect (i.e. the amount involved) should be stated in the note. If it is not possible to estimate the amount for any reason then obviously an amount cannot be stated.
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