- This topic has 3 replies, 2 voices, and was last updated 2 years ago by .
Viewing 4 posts - 1 through 4 (of 4 total)
Viewing 4 posts - 1 through 4 (of 4 total)
- The topic ‘IAS 10 Events after reporting date’ is closed to new replies.
Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › IAS 10 Events after reporting date
Hi There, This question is from BPP KIT.
I Would like to know why Statement 3 is Correct? should ALL non-adjusting event should be disclosed or only material is disclosed?
Thank you in advance
Which of the following statements about limited liability companies’ accounting is/are correct?
1 A revaluation surplus arises when a non-current asset is sold at a profit.
2 The authorised share capital of a company is the maximum nominal value of shares and loan notes the company may issue.
3 IAS10 Events After the Reporting Period requires all non-adjusting events to be disclosed in the notes to the financial statement.
It is only material events, however they are only called non-adjusting events if they are material. (If they are not material then they are not disclosed and are not called anything 🙂 )
okay
You are welcome!