Skip to content

ACCA Applied Knowledge · Financial Accounting · Events after the reporting period

Under IAS 10 Events after the Reporting Period, which of the following best defines the period in which events after the reporting period occur?

Events after the reporting period are those occurring between the end of the reporting period and the date the financial statements are authorised for issue. The AGM, filing or publication dates are not the defined cut-off under IAS 10.

  1. AFrom the start of the next financial year until the financial statements are filed with the tax authority
  2. BFrom the end of the reporting period until the date the financial statements are authorised for issueCorrect
  3. CFrom the end of the reporting period until the date of the annual general meeting
  4. DFrom the date of the auditor's first draft report until the date the financial statements are published

Explanation

IAS 10 defines events after the reporting period as those favourable and unfavourable events occurring between the end of the reporting period and the date the financial statements are authorised for issue. The AGM date and tax filing date are not the cut-off points, so those options are wrong.

Did you get it right without looking?

One question tells you little. A timed set on Events after the reporting period shows your real accuracy, how long you take and where you lose marks.

Practise Events after the reporting periodFree diagnostic mock

More Events after the reporting period questions