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Question 21.9

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Question 21.9

  • This topic has 3 replies, 2 voices, and was last updated 1 week ago by John Moffat.
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  • November 21, 2020 at 11:59 pm #596004
    arahnsathananthan

    Hi John

    Thanks for answering my questions as ever. You have helped me so much in my revision and i am nearing the end. I was caught out on this question. As it says IAS 10 events after the reporting period requires all non-adjusting events to be disclosed in the notes to the financial statements , thought it was incorrect. I know that non-adjusting entries are disclosed only when it is material. I chose D but the answer is C

    November 22, 2020 at 9:47 am #596032
    John Moffat
    Keymaster

    It is a bit of a trick question. It is only called an adjusting or non-adjusting event if it is material.

    November 22, 2020 at 2:01 pm #596061
    arahnsathananthan

    Thanks John for that.

    November 23, 2020 at 9:52 am #596110
    John Moffat
    Keymaster

    You are welcome 🙂

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