IAS 10 – Fire and flood at / before reporting date

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January 23, 2018 at 9:54 am #432382
zeronova
Member
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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
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Hi,
If the fire/flood takes place after the reporting date then it is a non-adjusting event.
Thanks
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