Question 4 The following events occurred after the year end, but before the financial statements were authorised for issue: Enactment by the government of a revised tax rate affecting the amount of the settlement of the deferred tax liability included in the financial statements. A share split in respect of the earnings per share Criteria being met in order to classify non-current assets as held for A material, but not fundamental, error arising in the comparative Required: In accordance with IAS 10: Events after the reporting period, explain with justification whether each of the above is an adjusting or a non-adjusting event after the reporting period.
Question 4 The following events occurred after the year end, but before the financial statements were authorised for issue: Enactment by the government of a revised tax rate affecting the amount of the settlement of the deferred tax liability included in the financial statements. A share split in respect of the earnings per share Criteria being met in order to classify non-current assets as held for A material, but not fundamental, error arising in the comparative Required: In accordance with IAS 10: Events after the reporting period, explain with justification whether each of the above is an adjusting or a non-adjusting event after the reporting period.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 4
The following events occurred after the year end, but before the financial statements were authorised for issue:
- Enactment by the government of a revised tax rate affecting the amount of the settlement of the
deferred tax liability included in the financial statements. - A share split in respect of the earnings per share
- Criteria being met in order to classify non-current assets as held for
- A material, but not fundamental, error arising in the comparative
Required: In accordance with IAS 10: Events after the reporting period, explain with justification whether each of the above is an adjusting or a non-adjusting event after the reporting period.
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