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reduction in investment should be adjusted for since it will affect sofp before reporting date. can you pls explain this ad you said it is not adjusted for?
If there is evidence that the value was lower at the reporting date, then it should be adjusted.
If the lower value occurred after the reporting date, then it is non-adjusting and (if material) should be disclosed by note.
That is what I say in the lecture 🙂
Hi John
Just a quick question. The lecture on Adjustments to Profit and Suspense Accounts (part c), question 4. I was just wanted to ask why this wouldn’t fully be adjusted for in the statements for y/e October 2006 since there was a sale made a short time after.
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