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IAS 10 – Fire and flood at / before reporting date

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 10 – Fire and flood at / before reporting date

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by P2-D2.
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  • January 23, 2018 at 9:54 am #432382
    zeronova
    Member
    • Topics: 6
    • Replies: 3
    • ☆

    Regarding IAS 10 Events after the reporting date, if a building is damaged by fire or flood AT reporting date, is this an adjusting event?

    I was watching the video on OpenTuition website on IAS 10, at the last bit of example 1, sub question 4, it states that it is an non-adjusting event although the fire occurred at SFP date?

    January 29, 2018 at 10:26 pm #433903
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7142
    • ☆☆☆☆☆

    Hi,

    If the fire/flood takes place after the reporting date then it is a non-adjusting event.

    Thanks

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