International Accounting Standards (IAS) & International Financial Reporting Standards (IFRS) Source: IAS 10 Events after the Reporting Period The objective of this Standard is to prescribe: (a) when an entity should adjust its financial statements for events after the reporting period; and (b) the disclosures that an entity should give about the date when the financial events after the balance sheet date according to IAS 10. IAS 10 Event After The Reporting Period 3. The IASC issued revised IAS 10, Events After the Balance Sheet Date in May 1999, which supersedes those portions of IAS 10 (1978) dealing with events after the balance sheet date. Australian-specific paragraphs (which are not included in IAS 10) are identified with the prefix “Aus” or “RDR”. IAS 10 contains requirements for when events after the end of the reporting period should be adjusted in the financial statements. IAS 10 covers all events , favorable and unfavorable, that occur between the end of the reporting period and the date when the financial statements are authorized for issue . View IAS IFRS-2018.pdf from ACCOUTING 34405 at Princess Sumaya University for Technology. IAS 8 Accounting policies FRS18 IAS 10 Events after balance sheet date SSAP17 IAS 16 Property, plant and equipment FRS15 IAS 18 Revenue IAS 23 Borrowing costs IAS 32 Financial instruments: presentation and disclosure FRS4 IAS 33 Earnings per share FRS14 IAS 35 Discontinuing operations FRS3 IAS 36 Impairment of assets FRS11 IAS 10 Events after the reporting period IAS 11 Construction contracts IAS 12 Income taxes IAS 16 Property, plant and equipment IAS 17 Leases IAS 18 Revenue IAS 19 Employee benefits IAS 20 Accounting for government grants and disclosure of government assistance IAS 21 The effects of changes in foreign exchange rates IAS 23 Borrowing costs Adjusting events are those providing evidence of conditions existing at the end of the reporting period, whereas non-adjusting events are indicative of conditions arising after the reporting period (the latter being disclosed where material). Comparison with IAS 10 AASB 110 Events after the Reporting Period as amended incorporates IAS 10 Events after the Reporting Period as issued and amended by the International Accounting Standards Board (IASB). Further provisions of IAS 10 and FRS 21 (a) Authorisation for issue of financial statements . The effective date was fixed as January 1, 2000. 3 IAS 10… confused with IAS (International Accounting Standards), which are older standards that IFRS has rep laced. On December 18, 2003, the International Accounting Standards Board (IASB) issued the revised version of IAS 10. An enterprise should disclose the date when the financial statements were authorised for issue and who gave that authorisation. Definition Events after the reporting period are those events, both favourable and unfavourable, that occur between the reporting date and the date on which the financial statements are authorized for issue. Shariq Chaudhry +923138577400 [email protected] 2. If the owners or others have the power to amend the financial statements after issue, that fact should be disclosed. IAS 10 1. Posted on 1 November 2018 2 October 2020 by finlearnhub in C3 - IAS 10 A fairly straightforward standard, that surprisingly causes confusion among professionals in real life. These studies focus on aspects of definition, recognition, measurement and mandatory disclo-sures on the topic.4 Such research is indeed relevant, but there is more to 2 IAS is an abbreviation for International Accounting Standards.

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