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WHEN you should adjust your financial statements for the events after the…
- WHEN you should adjust your financial statements for the events after the reporting period; and
- WHAT you should disclose about those events.
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events
adjusting: events that provide evidence of conditions that existed at the end of the reporting period
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going concern
it intends to cease trading, or
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it intends to liquidate the entity, or
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dividends after the RP
dividends declared after the reporting period are NOT reported as a liability at the end of the reporting period
in other words, to treat them like they are non-adjusting event
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you should NOT prepare your financial statements on a going concern basis if the management determines after the reporting period either that: