Hello sir,
Why would the following be a non adjusting event?
A company took delivery of a new machine from usa in the last week of the financial year. It was discovered almost immediately afterwards that the entity supplying the machine had filled for bankruptcy and would not be able to honour the warranties and repair contract on the new machine. Because the machine was so advanced, it was unlikely that any local entity could provide maintenance cover.
Ask the Tutor ACCA FR
IAS 10
Hi,
What specifically would you looking to be adjusting for given the information in the scenario?
Thanks
Warranty and repair contract?
But we do not offer the warranties, so it would not impact our accounting. We can just not fix the machine if it breaks.
Oh got it sir thanks a lot
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