Adjusting Events

Source: Ind AS 10 (summary)

Adjusting events provide evidence of conditions that existed at the end of the reporting period, such as a court settlement of a case already pending, and the financial statements are adjusted. Non-adjusting events, such as a fall in the market value of investments after that date, are only disclosed if material.

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About Accounting

Accounting principles in short, plain-language summaries: double entry, accrual, going concern and prudence, then Ind AS topics such as inventories, cash flows, events after the reporting period, income taxes, property, plant and equipment, employee benefits, government grants and foreign currency.

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