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Sir i have 2 doubts in IAS10
1) If suppose an employee or a customer gets injured before year end, but starts litigation/ legal proceedings AFTER year end, and the lawyers state it possible or probable, will it be adjusting or non adjusting event?
2) If mining( environment damage) starts before year end(with no lega or constructive obligation) and the government enacts law for rectifying previous damages(i.e. those started before year end) will it be adjusting event or non adjusting?1. Probable – recognise provision; possible – disclose contingent liability.
2. Example 2A:
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