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- This topic has 4 replies, 2 voices, and was last updated 2 years ago by Varun.J.Thakkar.
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- October 22, 2021 at 1:40 pm #638791
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.
October 23, 2021 at 9:19 am #638853Hi,
What specifically would you looking to be adjusting for given the information in the scenario?
Thanks
October 25, 2021 at 5:41 am #639030Warranty and repair contract?
October 30, 2021 at 9:41 am #639451But we do not offer the warranties, so it would not impact our accounting. We can just not fix the machine if it breaks.
November 1, 2021 at 7:55 am #639623Oh got it sir thanks a lot
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