AASB 110 - Events after the Reporting Period - July 2004
Non-adjusting Events after the ReportingNon-adjusting Events after the Reporting Period
Start here
Get a plain-English read of Non-adjusting Events after the Reporting
Turn the raw legal text into a practical explanation grounded in AASB 110 - Events after the Reporting Period - July 2004.
Non-adjusting Events after the Reporting Period
10 An entity shall not adjust the amounts recognised in its financial statements to reflect non-adjusting events after the reporting period.
11 An example of a non-adjusting event after the reporting period is a decline in fair value of investments between the end of the reporting period and the date when the financial statements are authorised for issue. The decline in fair value does not normally relate to the condition of the investments at the end of the reporting period, but reflects circumstances that have arisen subsequently. Therefore, an entity does not adjust the amounts recognised in its financial statements for the investments. Similarly, the entity does not update the amounts disclosed for the investments as at the end of the reporting period, although it may need to give additional disclosure under paragraph 21.