International GAAP 2021

Chapter 38Events after the reporting period

• 1 INTRODUCTION
• 2 REQUIREMENTS OF IAS 10
  • 2.1 Objective, scope and definitions
    • 2.1.1 Date when financial statements are authorised for issue
      • 2.1.1.A Impact of preliminary reporting
      • 2.1.1.B Re-issuing (dual dating) financial statements
    • 2.1.2 Adjusting events
    • 2.1.3 Non-adjusting events
      • 2.1.3.A Dividend declaration
  • 2.2 The treatment of adjusting events
    • 2.2.1 Events requiring adjustment to the amounts recognised, or disclosures, in the financial statements
    • 2.2.2 Events indicating that the going concern basis is not appropriate
  • 2.3 The treatment of non-adjusting events
    • 2.3.1 Declaration to distribute non-cash assets to owners
    • 2.3.2 Breach of a long-term loan covenant and its subsequent rectification
  • 2.4 Other disclosure requirements
• 3 PRACTICAL ISSUES
  • 3.1 Valuation of inventory
  • 3.2 Percentage of completion estimates
  • 3.3 Insolvency of a debtor and IFRS 9 expected credit losses
  • 3.4 Valuation of investment property at fair value and tenant insolvency
  • 3.5 Discovery of fraud after the reporting period
  • 3.6 Changes to estimates of uncertain tax treatments

List of examples

• Example 38.1: Financial statements required to be approved by shareholders
• Example 38.2: Financial statements required to be approved by supervisory board
• Example 38.3: Financial statements required to be approved by supervisory board – changes are made by supervisory board
• Example 38.4: Release of financial information before date of authorisation for ...