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Why the destruction of a major production plant by a fire after B/S’s date belongs to the non-adjusting events and we will do nothing on the B/S?
Thank you!Because the plant existed at the date of the SOFP (we have not called it the balance sheet for a long time 🙂 ) and the statement is showing the position of the business at as the date of the SOFP.
Have you watched my free lectures on this? The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
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