Financial Accounting and Reporting (FAR) · Lesson 12 of 13

Events after the Reporting Period (PAS 10) and Accounting Policies, Estimates, and Errors (PAS 8)

Ask whether a condition existed at the reporting date to sort adjusting from non-adjusting events, know why dividends declared afterwards are never a liability and why abandoning going concern always adjusts, and route policy changes and prior period errors retrospectively while changes in estimate go forward only.

17 min read · Super Ea