History of IAS 10?

Event after the reporting period: An event, which could be favourable or unfavourable, that occurs between the end of the reporting period and the date that the financial statements are authorised for issue. [IAS 10.3]

Adjusting event: An event after the reporting period that provides further evidence of conditions that existed at the end of the reporting period, including an event that indicates that the going concern assumption in relation to the whole or part of the enterprise is not appropriate. [IAS 10.3]

Non-adjusting event: An event after the reporting period that is indicative of a condition that arose after the end of the reporting period. [IAS 10.3]

Accounting
Adjust financial statements for adjusting events - events after the balance sheet date that provide further evidence of conditions that existed at the end of the reporting period, including events that indicate that the going concern assumption in relation to the whole or part of the enterprise is not appropriate. [IAS 10.8] Do not adjust for non-adjusting events - events or conditions that arose after the end of the reporting period. [IAS 10.10] If an entity declares dividends after the reporting period, the entity shall not recognise those dividends as a liability at the end of the reporting period. That is a non-adjusting event. [IAS 10.12]

Jul 7 at 13:44:36
	Adnan 11

July 1977 Exposure Draft E10 Contingencies and Events Occurring After the Balance Sheet Date

October 1978 IAS 10 Contingencies and Events Occurring After the Balance Sheet Date effective 1 January 1980

1994 IAS 10 (1978) was reformatted

August 1997 Exposure Draft E59 Provisions, Contingent Liabilities and Contingent Assets

September 1998 IAS 37 Provisions, Contingent Liabilities and Contingent Assets

18 December 2003 Revised version of IAS 10 issued by the IASB

1 January 2005 Effective date of IAS 10 (Revised 2003)

6 September 2007 Retitled Events after the Reporting Period as a consequential amendment resulting from revisions to IAS 1

Jul 7 at 13:43:43
	Adnan 11