s only in the notes. c. Either a or b as an accounting policy choice. d. None of these. The PFRS for SMEs does not require SMEs to identify and account for events after the reporting period.
s only in the notes. c. Either a or b as an accounting policy choice. d. None of these. The PFRS for SMEs does not require SMEs to identify and account for events after the reporting period.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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16. How does an SME account for events after the reporting period that provide evidence of conditions that existed at the end of the reporting period?
a. As adjusting events after the end of the reporting period.
b. As disclosures only in the notes.
c. Either a or b as an accounting policy choice.
d. None of these. The PFRS for SMEs does not require SMEs to identify and account for events after the reporting period.
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