IAS 10 – Events After the Reporting Period


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. Question is what events to adjusted for and what to be left for next accounting period. All of this is explained in IAS 10.

Executive Summary

IAS 10 recognizes that even after the reporting period ended, business continues and events are still happening until the financial statements are published. The events that require adjustments in the financial statements are those that occurred after reporting date but had the evidence of existence of conditions before reporting date. Those that are not evidenced are non-adjusting events. However, some non-adjusting events are of such significance that needs to be disclosed.