Yompab Ltd is a listed manufacturing company which prepares its financial statements for the year ended 31 October, 2018 in accordance with IFRS. The financial statements are due to be authorized for issue on 15 January 2019.i. Yompab Ltd holds an investment in the shares of a listed company, Nanoni Ltd. During November 2018 there was a material fall in the value of Nanoni Ltd’s shares. Analysts attribute the fall in value principally to a fraud dating back to December 2017 that was discovered by Nanoni Ltd's management and announced publicly in November 2018.ii. In December 2018, the directors of Yompab Ltd publicly announced a plan to reduce the workforce by 10% as a result of worsening economic conditions.Required:Discuss the effects of each of the above items on the financial statements of Ypmpab Ltd for the year ended 31 October 2018 in accordance with IAS 10 Events after the Reporting Period. d. Yompab Ltd is a listed manufacturing company which prepares its financial statements forthe year ended 31 October, 2018 in accordance with IFRS. The financial statements aredue to be authorized for issue on 15 January 2019.i.Yompab Ltd holds an investment in the shares of a listed company, Nanoni Ltd. DuringNovember 2018 there was a material fall in the value of Nanoni Ltd's shares. Analystsattribute the fall in value principally to a fraud dating back to December 2017 that wasdiscovered by Nanoni Ltd's management and announced publicly in November 2018.ii.In December 2018, the directors of Yompab Ltd publicly announced a plan to reducethe workforce by 10% as a result of worsening economic conditions.Required:Discuss the effects of each of the above items on the financial statements of Ypmpab Ltd for theyear ended 31 October 2018 in accordance with IAS 10 Events after the Reporting Period.

As per IAS 10, Events after reporting date means the event is to occur after the balance date but if…

Answered: Yompab Ltd is a listed manufacturing…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Yompab Ltd is a listed manufacturing company which prepares its financial statements for the year ended 31 October, 2018 in accordance with IFRS. The financial statements are due to be authorized for issue on 15 January 2019.
i. Yompab Ltd holds an investment in the shares of a listed company, Nanoni Ltd. During November 2018 there was a material fall in the value of Nanoni Ltd’s shares. Analysts attribute the fall in value principally to a fraud dating back to December 2017 that was discovered by Nanoni Ltd's management and announced publicly in November 2018.
ii. In December 2018, the directors of Yompab Ltd publicly announced a plan to reduce the workforce by 10% as a result of worsening economic conditions.
Required:
Discuss the effects of each of the above items on the financial statements of Ypmpab Ltd for the year ended 31 October 2018 in accordance with IAS 10 Events after the Reporting Period.

d. Yompab Ltd is a listed manufacturing company which prepares its financial statements for
the year ended 31 October, 2018 in accordance with IFRS. The financial statements are
due to be authorized for issue on 15 January 2019.
i.
Yompab Ltd holds an investment in the shares of a listed company, Nanoni Ltd. During
November 2018 there was a material fall in the value of Nanoni Ltd's shares. Analysts
attribute the fall in value principally to a fraud dating back to December 2017 that was
discovered by Nanoni Ltd's management and announced publicly in November 2018.
ii.
In December 2018, the directors of Yompab Ltd publicly announced a plan to reduce
the workforce by 10% as a result of worsening economic conditions.
Required:
Discuss the effects of each of the above items on the financial statements of Ypmpab Ltd for the
year ended 31 October 2018 in accordance with IAS 10 Events after the Reporting Period.

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