Events after reporting date

This topic has 1 reply, 2 voices, and was last updated 4 years ago by P2-D2.

Viewing 2 posts - 1 through 2 (of 2 total)

Author

Posts
May 26, 2022 at 7:16 am #656481
ilham9089
Participant
- Topics: 301
- Replies: 190
Hi, if some inventory is damaged by fire etc would that count as an adjusting event since the NRV will now be lower than the cost or does a sale have to take place first lower than the cost for it to be an adjusting event
May 30, 2022 at 5:33 pm #656893
P2-D2
Keymaster
- Topics: 4
- Replies: 7235
It would be non-adjusting as the fire took place after the reporting date but it would be disclosed in the notes to the accounts.

Thanks
Author

Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.