July 28, 2018 at 1:17 pm. December 29, 2018. • Kayte’s vessels constitute a material part of its total assets. 1126/2008, es beschreibt den Umgang mit Sachverhalten, die nach Bilanzstichtag bekannt werden, aber noch in die zu berichtende Periode gehören. IAS 38 - Intangible Non Current Assets (66:09) Start; 13. It would not be practicable for preparers to finalise financial statements without a period of time elapsing between the end of the reporting period and the date on which the financial statements are authorised for issue. The course includes practical examples and interim tests to enhance understanding. Events after the reporting period (IAS 10) Impairment of assets (IAS 36) Exploration for and exploration of mineral resources (IFRS 6) IFRIC rejections ; IFRS SME . (This is evidence that the property value was fine at the year end - so no adjustment required). Adjust the accounts to a break up basis regardless if the event was a non-adjusting event. The following events occurred as follows: (a… Download all ACCA course notes, track your progress, option to buy premium content and subscribe to eNewsletters and recaps. Acowtancy. CIMA F1 IAS 10 Events after the reporting period. Control requires exposure or rights to variable returns and the ability to affect those returns through power over an investee. Spread the word. Hello Sir, First question is about having a legal obligation. IAS 10 Full text Overview. If the event gives us more information about the condition at the year-end then we adjust. IAS 1 - Presentation of Financial … ACCA FR Chapter 5 IAS16 Questions. ACCA CIMA CAT DipIFR Search. You will be redirected to an external website for booking. ACCA Financial Reporting (FR) - Non-current assets IAS16 - Practice Questions - Chapter 5 Free ACCA Financial Reporting (FR) Tests Acca questions and answers on ias 16. Free sign up Sign In. Summaries of IAS and IFRS. Students must know that these . On 21 August 2016, Evolve undertook a scrip (bonus) issue where the shareholders of Evolve received certain rights. This e-learning course is part of an e-learning series designed by PwC Academy Hungary which aims to provide a comprehensive overview of the application of IFRS (IAS) standards to finance and accounting experts who are already familiar with fundamental (local) accounting and reporting processes. The event provides evidence of conditions that existed at the period end, (This is evidence that debtor was bad at SFP date also), Stock is sold at a loss 2 weeks after SFP date, Property gets impaired 3 weeks after SFP date, (This implies that the property was impaired at the SFP date also), The result of a court case confirming the company did have a present obligation at the year end, The settling of a purchase price for an asset that was bought before the year end but the price was not finalised, The discovery of fraud or error in the year, These are events (after the SFP date) that occurred which do not give evidence of conditions at the year end, rather they are indicative of conditions AFTER the SFP date, Stock is sold at a loss because they were damaged post year-end, (This is evidence that they were fine at the year-end - so no adjustment), Property impaired due to a fall in market values generally post year end. However, what if we get more information about these estimates etc afterwards, but before the accounts are authorised and published.. should we change the accounts or not? Please visit our global website instead, Can't find your location listed? by … Acowtancy. ACCA Students: IAS 10 Events after the reporting period #accaf3 #accastudent #accastudents #studyacca #acca http://ift.tt/2uSITZh Hello Sir, First question is about having a legal obligation. Its date of authorization of financial statements for issue was 10 February 2013 and the annual general meeting is scheduled on 7 March 2013. The accounting standard IAS 10 sets out when entities should adjust their financial statements for events after the reporting period and the disclosures that should be given about the date when the financial statements were authorised for issue. IAS 27 Separate Financial Statements. . The objective of this standard is to prescribe: 1. when an entity should adjust its financial statements for events after the reporting period; and 2. the disclosures that an entity should give about the date when the financial statements were authorised for issue and about events after the reporting period. IAS 10 sets the rules when an entity should adjust its financial statements for events after the reporting period together with the necessary disclosures. There are 4 main types of material events after the reporting period: If you have found OpenTuition useful, please donate. An introduction to ACCA FR (F7) B7g. ias 10 • (a) Evolve is a real estate company, which is listed on the stock exchange and has a year end of 31 August. IFRS 10 was issued in May 2011 and applies to annual periods beginning on or after 1 January 2013. The acquisition or disposal of a subsidiary post year end, A formal plan issued post year end to discontinue a major operation, The destruction of an asset by fire or similar post year end, Non-adjusting event which affects Going Concern. It is anytime between period end and the date the accounts are authorised for issue. SBR – STRATEGIC BUSINESS REPORTING (INT) STUDY NOTES TABLE OF CONTENTS. International Accounting Standard 10: Events After the Reporting Period clarifies the accounting treatment for events that occurred after balance sheet date but before financial statements are published. FR F7 Blog Textbook Tests Test Centre Exams Exam Centre. The conceptual and regulatory framework for financial reporting. The date of authorization of financial statements and related authority. FR F7 Blog Textbook Tests Test Centre … Please visit our global website instead. Question is what events to adjusted for and what to be left for next accounting period. This course explains the appropriate accounting treatment and disclosure requirements of events that occur between the end of the reporting period and the date when financial statements are authorised for issue. This site uses cookies. CIMA F1 Chapter – 12 – IAS 2 Inventories & IAS 10 Events after the reporting period. ACCA BT F1 MA F2 FA F3 LW F4 Eng PM F5 TX F6 UK FR F7 AA F8 FM F9 SBL SBR INT SBR UK AFM P4 APM P5 ATX P6 UK AAA P7 INT AAA P7 UK. So kann ein Unternehmen beispielsweise die Bezeichnung „Gesamtergebnisrechnung“ anstatt „Darstellung von Gewinn oder … Ein Unternehmen kann für diese Bestandteile andere Bezeichnungen als die in diesem Standard vorgesehenen Begriffe verwenden. FR F7. Preview text. Read More . ACCA BT F1 MA F2 FA F3 LW F4 Eng PM F5 TX F6 UK FR F7 AA F8 FM F9 SBL SBR INT SBR UK AFM P4 APM P5 ATX P6 UK AAA P7 INT AAA P7 UK. We use cookies to help make our website better. IAS 10 requires the entity to disclose the following: 1. Only favorable events that occur between end of reporting period and the date when the financial statements are authorized for issue called events after reporting period. FR F7. . ACCA FR Chapter 5 IAS16 Questions. 10. 4. 2. ACCA Study Options; ACCA Student Fees; ACCA Timetables; How to start ACCA; ACCA Accelerate Programme ; Foundation in Accountancy; ICB; Contact Us; Online Courses; Register Now! IFRS 11 Joint Arrangements. . Classroom Revision Mock Exam … IFRS 3 Business Combinations . Up basis regardless if the event gives us more information about the condition at the bottom snippet... Snippet or the scroll bar of embedded document use the navigational links at the period and! Is about having a legal obligation Conditions Articles ( EG ) Nr a non-adjusting under... Property ( 13:52 ) Start ; 10 our study materials for and what to be left for next period! Ifrs 10 was issued in May 2011 and applies to annual periods beginning on or 1... 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