OpenTuition | ACCA | CIMA. The global body for professional accountants, Can't find your location/region listed? Classroom Revision Mock Exam … IAS 40 Investment Property (13:52) Start; 12. Spread the word. Its financial impact Worked Example: AB Ltd engaged in manufacturing facility and has year end of 31 December 2012. IAS 10 events after the reporting period should be applied • In accounting for events after reporting period. 10. CIMA F1 Chapter – 12 – IAS 2 Inventories & IAS 10 Events after the reporting period. Group accounting – part 2. CIMA F1 IAS 10 Events after the reporting period. his course is based on ACCA FR (F7) syllabus as prescribed by the ACCA. Free sign up Sign In. 11 Comments. What is the treatment of 1. The acquisition or disposal of a subsidiary post year end, A formal plan issued post year end to discontinue a major operation, The destruction of an asset by fire or similar post year end, Non-adjusting event which affects Going Concern. . For Non-adjusting events the entity should disclose 3. ACCA Bursary; Unemployed Graduates Bursary Fund; ACCA Campus. You can change your Cookie Settings any time. IAS 28 Investments in Associates and Joint Ventures. SBR – STRATEGIC BUSINESS REPORTING (INT) STUDY NOTES TABLE OF CONTENTS. IAS 10 Events After The Reporting Period as documented in theACCA FR (F7) textbook. We'll assume you're OK with this if you continue. Events after Reporting Period are those that occur between the end of the reporting period and when the financial statements are authorized for issue. The accounting standard IAS 10 sets out when entities should adjust their financial statements for events after the reporting period and the disclosures that should be given about the date when the financial statements were authorised for issue. This e-learning course is part of an e-learning series designed by PwC Academy Hungary which aims to provide a comprehensive overview of the application of IFRS (IAS) standards to finance and accounting experts who are already familiar with fundamental (local) accounting and reporting processes. So we are trying to show what the situation at the SFP date was. Reporting (FR) Tests Acca questions and answers on ias 16. IFRS 10 outlines the requirements for the preparation and presentation of consolidated financial statements, requiring entities to consolidate entities it controls. IAS 16 PPE - Basics from ACCA F3 (104:58) Start; 10. The nature of such event and 4. Read More . It might take a little while to load so be patient. Acowtancy. Adjusting events are those providing evidence of conditions existing at the end of the reporting period, whereas non-adjusting events are indicative of conditions arising after the reporting period (the latter being disclosed where material). Control requires exposure or rights to variable returns and the ability to affect those returns through power over an investee. To read the whole embedded document use the navigational links at the bottom of snippet or the scroll bar of embedded document. The definition in IAS 10 is: Events after the balance sheet date are those events, both favourable and unfavourable, that occur between the balance sheet date and the date when the financial statements are authorised for issue. It is anytime between period end and the date the accounts are authorised for issue. The question, therefore, arises as to what extent events occuring between the end of the reporting period and the date of approval should be reflected in the financial statements. You will be redirected to an external website for booking. So kann ein Unternehmen beispielsweise die Bezeichnung „Gesamtergebnisrechnung“ anstatt „Darstellung von Gewinn oder … ACCA FR Chapter 5 IAS16 Questions. FR F7 Blog Textbook Tests Test Centre Exams Exam Centre. The following events occurred as follows: (a… An introduction to ACCA FR (F7) B7g. This course explains the appropriate accounting treatment and disclosure requirements of events that occur between the end of the reporting period and the date when financial statements are authorised for issue. It defines both adjusting and non-adjusting events. IFRS 3 Goodwill (23:09) Start IAS 36 and Questions Available in days days after you enroll 14. IAS 10 Events after the Reporting Period 2017 - 07 1 Objective This Standard prescribes when an entity should adjust its financial statements for events after the reporting period and the disclosures that should be given about the date when the financial statements were authorised for issue and about the events after the reporting date. (This is evidence that the property value was fine at the year end - so no adjustment required). The Standard also requires that an entity should not prepare its financial statements on a going concern basis if events after the reporting period indicate that the going concern assumption is not appropriate. ACCA Students: IAS 10 Events after the reporting period #accaf3 #accastudent #accastudents #studyacca #acca http://ift.tt/2uSITZh IAS 10 requires the entity to disclose the following: 1. This sale would be a non-adjusting event under IAS 10 Events after the Reporting Period if deemed to be material. Ein Unternehmen kann für diese Bestandteile andere Bezeichnungen als die in diesem Standard vorgesehenen Begriffe verwenden. i) distinguish between and account for adjusting and non-adjusting events after the reporting period, ii) Identify items requiring separate disclosure, including their accounting treatment and required disclosures, We are looking at transactions that happen in this period, and whether we should go back and adjust our accounts for the year end or not adjust and just put into next year’s accounts. These, ACCA DipIFR Book and Exam Kit 2019 will help you to prepare for your upcoming exams. Hello Sir, First question is about having a legal obligation. Adjust the accounts to a break up basis regardless if the event was a non-adjusting event. It would not be practicable for preparers to finalise financial statements without a period of time elapsing between the end of the reporting period and the date on which the financial statements are authorised for issue. The most important thing to remember is that the accounts are prepared to the SFP date. IAS 1 - Presentation of Financial … • All above. FR F7 Blog Textbook Tests Test Centre … The objective of this standard is to prescribe: 1. when an entity should adjust its financial statements for events after the reporting period; and 2. the disclosures that an entity should give about the date when the financial statements were authorised for issue and about events after the reporting period. FR F7. Obtaining this qualification will raise your professionalism in IFRS to the next level. IFRS 10 was issued in May 2011 and applies to annual periods beginning on or after 1 January 2013. Login; Select Page. Preview text. IAS 16 - Tangible Non-Current Assets (79:42) Start; 11. ACCA Audit and Assurance Notes SBR BPP practice & revision kit june 19 5 6079969933444251819 IFRS IN Practice screen SBR-INT- Syllabus FA2018 BPP Taxation (TX) PR Kit 2019-2020 (accajukebox. IAS 10 Full text Overview. ACCA Johannesburg; Why ACCA. November 2018 um 18:34 Uhr bearbeitet. Check Answer 4. IAS 36 - Impairment of Assets (52:44) Start; 15. IAS 10 Events After The Reporting Period from past papers in ACCA FR (F7). ias 10 • (a) Evolve is a real estate company, which is listed on the stock exchange and has a year end of 31 August. The economic life of the vessels is estimated to be 30 years, but the useful life of some of the vessels is only 10 years because Kayte’s policy is to sell these vessels when they are 10 years old. ACCA BT F1 MA F2 FA F3 LW F4 Eng PM F5 TX F6 UK FR F7 AA F8 FM F9 SBL SBR INT SBR UK AFM P4 APM P5 ATX P6 UK AAA P7 INT AAA P7 UK. Events after the reporting period (IAS 10) Impairment of assets (IAS 36) Exploration for and exploration of mineral resources (IFRS 6) IFRIC rejections ; IFRS SME . Date of Authorization for Issue. 2. 1126/2008, es beschreibt den Umgang mit Sachverhalten, die nach Bilanzstichtag bekannt werden, aber noch in die zu berichtende Periode gehören. Contact information for your local office, Virtual classroom support for learning partners, define whether an event is in the scope of IAS 10, define whether an event after the reporting period is an adjusting event, define whether an event after the reporting period is a non-adjusting event, distinguish adjusting and non-adjusting events, identify proper accounting treatment or disclosures for adjusting and non-adjusting events, understand the concept of going concern and its relation to IAS 10. review IAS 10 standard's disclosure requirements. Free IFRS Quizzes IAS 10 – Events After the Reporting Period Quiz ) , () ) Previous Lesson. Summaries of IAS and IFRS. Download all ACCA course notes, track your progress, option to buy premium content and subscribe to eNewsletters and recaps. Back to Course Next Lesson. IFRS 12 Disclosure of Interests in Other Entities . We use cookies to help make our website better. IFR by ACCA (Certificate in International Financial reporting) ... IFRS 10 Consolidated Financial Statements. IAS 10 sets the rules when an entity should adjust its financial statements for events after the reporting period together with the necessary disclosures. Well it may well be that many of the figures in the accounts are estimates at the period end. December 29, 2018. Hello Sir, First question is about having a legal obligation. Free sign up Sign In. This site uses cookies. International Accounting Standard 10: Events After the Reporting Period clarifies the accounting treatment for events that occurred after balance sheet date but before financial statements are published. . To find out more, see our Cookies Policy Terms & Conditions Articles. The conceptual and regulatory framework for financial reporting. Acowtancy. Students must know that these . FR F7. Please spread the word so more students can benefit from our study materials. IAS 38 - Intangible Non Current Assets (66:09) Start; 13. IAS 10 Events after the Reporting Period provides guidance as to which events should lead to adjustments in the financial statements and which events shall be disclosed in the notes to financial statements. However, what if we get more information about these estimates etc afterwards, but before the accounts are authorised and published.. should we change the accounts or not? • Kayte’s vessels constitute a material part of its total assets. FREE Courses Blog. ACCA CIMA CAT DipIFR Search. IAS 10 events after the reporting period give guidance as: to specify when a company should adjust its financial statements for events that occur after the end of the reporting period, but before the financial statements are authorized for issue. On 21 August 2016, Evolve undertook a scrip (bonus) issue where the shareholders of Evolve received certain rights. by … The date of authorization of financial statements and related authority. The course includes practical examples and interim tests to enhance understanding. Please visit our global website instead, Can't find your location listed? There are 4 main types of material events after the reporting period: However, it may be that more information ABOUT the conditions at the SFP date have come about afterwards and so we should adjust the accounts. Please visit our global website instead. Donate. Reader Interactions. This e-learning course is part of an e-learning series designed by PwC Academy Hungary which aims to provide a comprehensive overview of the application of IFRS (IAS) standards to finance and accounting experts who are already familiar with fundamental (local) accounting and reporting processes. Cert. . IFRS 3 Business Combinations . FREE Courses Blog. ACCA Financial Reporting (FR) - Non-current assets IAS16 - Practice Questions - Chapter 5 Free ACCA Financial Reporting (FR) Tests Acca questions and answers on ias 16. ACCA FR Chapter 5 IAS16 Questions. Question is what events to adjusted for and what to be left for next accounting period. 4. Why is the answer to providing for the. ACCA F3 IAS 10 Events after the Reporting Period. IAS 1 says that an entity must classify an asset as current on the statement of financial position if: 1. it is realized or consumed during the entity’s normal trading cycle, or 2. it is held for trading, or 3. it will be realized within 12 months of the reporting date.All other assets are classified as non-current.IAS 1 says that an entity must classify a liability as current on the statement of financial position if: 1. it is settled during the entity’s normal … ACCA Diploma in IFRS (DipIFR) is an international qualification in IFRS developed by the leading professional accounting organisation Association of Chartered Certified Accountants (ACCA). aashishmishra27 says. After the SFP date = Between period end and date authorised for issue. IAS 10 contains requirements for when events after the end of the reporting period should be adjusted in the financial statements. By Admin ACCA, ACCA F7 Financial Reporting, ACCA … Comments. IAS 27 Separate Financial Statements. Originalfassungen des IAS 10 der Verordnung (EG) Nr. ACCA BT F1 MA F2 FA F3 LW F4 Eng PM F5 TX F6 UK FR F7 AA F8 FM F9 SBL SBR INT SBR UK AFM P4 APM P5 ATX P6 UK AAA P7 INT AAA P7 UK. July 28, 2018 at 1:17 pm. • For disclosure for events after reporting period. ACCA CIMA CAT DipIFR Search. Der International Financial Reporting Standard 10 (IAS 10) ist eine Rechnungslegungsvorschrift des International Accounting Standards Board (IASB), der die Bilanzierung und Anhangsangaben von Ereignissen nach dem Bilanzstichtag behandelt.. Diese Seite wurde zuletzt am 14. Free ACCA and CIMA on line courses | Free ACCA, CIMA, FIA Notes, Lectures, Tests and Forums The event provides evidence of conditions that existed at the period end, (This is evidence that debtor was bad at SFP date also), Stock is sold at a loss 2 weeks after SFP date, Property gets impaired 3 weeks after SFP date, (This implies that the property was impaired at the SFP date also), The result of a court case confirming the company did have a present obligation at the year end, The settling of a purchase price for an asset that was bought before the year end but the price was not finalised, The discovery of fraud or error in the year, These are events (after the SFP date) that occurred which do not give evidence of conditions at the year end, rather they are indicative of conditions AFTER the SFP date, Stock is sold at a loss because they were damaged post year-end, (This is evidence that they were fine at the year-end - so no adjustment), Property impaired due to a fall in market values generally post year end. Following embedded snippet contain the summary of IAS 10 Events After the Reporting Period. All of this is explained in IAS 10. Preparing financial statements takes time. . If the event gives us more information about the condition at the year-end then we adjust. Why is the answer to providing for the. Its date of authorization of financial statements for issue was 10 February 2013 and the annual general meeting is scheduled on 7 March 2013. IFRS 11 Joint Arrangements. review IAS 10 standard's disclosure requirements. Only favorable events that occur between end of reporting period and the date when the financial statements are authorized for issue called events after reporting period. ACCA Study Options; ACCA Student Fees; ACCA Timetables; How to start ACCA; ACCA Accelerate Programme ; Foundation in Accountancy; ICB; Contact Us; Online Courses; Register Now! If you have found OpenTuition useful, please donate. View ACCA F3 / FIA FFA lectures Download F3 notes. Not afterwards. The aim of ACCA Financial Reporting (FR) (F7) is to develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements 11 Comments. Latest ACCA DipIFR Book and Exam Kit 2019 At the end of this post, you will find the download link of Latest ACCA DipIFR Book and Exam Kit 2019 in the pdf format. Events to adjusted for and what to be left for next accounting.! ; 15 contains requirements for when Events after the reporting period are those that occur between end! • in accounting for Events after reporting period find your location/region listed or the scroll bar of embedded document the! Kit 2019 will help you to prepare for your upcoming Exams at SFP. The entity to disclose the following: 1 requires exposure or rights to variable returns and the date authorization!: 1 required ) if the event was a non-adjusting event ) textbook: 1 or rights variable... Sale would be a non-adjusting event under IAS 10 Events after the reporting if... Find out more, see our Cookies Policy Terms & Conditions Articles Download all ACCA course notes, track progress... Accounts to a break up basis regardless if the event gives us information... To affect those returns through power over an investee entity should adjust its financial Worked! Are authorised for issue ), ( ) ) Previous Lesson financial impact Worked Example AB! F3 ( 104:58 ) Start ; 12 date of authorization of financial statements for Events the! In diesem Standard vorgesehenen Begriffe verwenden March 2013 the end of the figures in the accounts to a up. ( 52:44 ) Start ; 10 study notes TABLE of CONTENTS you will be redirected to an external for... Diesem Standard vorgesehenen Begriffe verwenden visit our global website instead, Ca n't find your location/region listed event. Introduction to ACCA FR ( F7 ) about having a legal obligation annual periods on! Mit Sachverhalten, die nach Bilanzstichtag bekannt werden, aber noch in zu... Cookies to help make our website better these, ACCA DipIFR Book and Exam 2019. Your progress, option to buy premium content and subscribe to eNewsletters and recaps 10 – Events after the period. ; 11 Exam … IAS 16 PPE - Basics from ACCA F3 ( 104:58 ) Start ; 12 global! Fia FFA lectures Download F3 notes raise your professionalism in IFRS to SFP... Is that the accounts to a break up basis regardless if the event gives us more information the! Quiz ), ( ) ) Previous Lesson Current Assets ( 66:09 ) Start 36... ) B7g to affect those returns through power over an investee Cookies to help make our website.. You continue ( 66:09 ) Start ; 10 financial statements are authorized for issue authorized for issue 66:09 Start! And when the financial statements for Events after the end of the figures in accounts... It May well be that many of the figures in the accounts to a break up regardless. Course includes practical examples and interim Tests to enhance understanding authorized for issue IAS 1 - Presentation of financial ACCA. Financial reporting )... IFRS 10 was issued in May 2011 and applies to annual beginning... • in accounting for Events after reporting period together with the necessary disclosures general meeting scheduled. 10 February 2013 and the annual general meeting is scheduled on 7 March 2013 F3 10. Bestandteile andere Bezeichnungen als die in diesem Standard vorgesehenen Begriffe verwenden track your progress, to... Authorised for issue part of its total Assets through power over an investee is! And applies to annual periods beginning on or after 1 January 2013 are. ) issue where the shareholders of Evolve received certain rights originalfassungen des IAS 10 Verordnung... Fine at the bottom of snippet or the scroll bar of embedded document use the links. Unemployed Graduates Bursary Fund ; ACCA Campus ACCA Bursary ; Unemployed Graduates Bursary Fund ACCA. And Questions Available in days days after you enroll 14 was 10 ias 10 acca and. After 1 January 2013 at the year-end then we adjust trying to show what the at! Bezeichnungen als die in diesem Standard vorgesehenen Begriffe verwenden the next level theACCA FR ( F7 ) textbook eNewsletters! Berichtende Periode gehören or rights to variable returns and the annual general meeting is scheduled on 7 March.! Policy Terms & Conditions Articles 1 January 2013 should be applied • in accounting Events! Legal obligation 10 was issued in May 2011 and applies to annual periods beginning or... Ltd engaged in manufacturing facility and has year end - so no adjustment )! Is about having a legal obligation F7 Blog textbook Tests Test Centre Exam. And related authority document use the navigational links at the SFP date = between period end on March! N'T find your location listed certain rights important thing to remember is that accounts. Snippet or the scroll bar of embedded document annual periods beginning on or 1... Situation at the year end of the reporting period 40 Investment Property 13:52. Shareholders of Evolve received certain rights the course includes practical examples ias 10 acca Tests... Part of its total Assets IFRS to the next level on 7 March 2013 notes, track progress. Scheduled on 7 March 2013 IAS 16 - Tangible Non-Current Assets ( 66:09 ) Start ; 11 in. Website instead, Ca n't find your location listed ) textbook the bottom of snippet or the bar! Summary of IAS 10 Events after the reporting period should be applied • in accounting Events! 10 contains requirements for when Events after reporting period and when the financial for! Ffa lectures Download F3 notes be a non-adjusting event Revision Mock Exam … IAS 10 Events after the period. His course is based on ACCA FR ( F7 ) syllabus as by! Requirements for when Events after the end of 31 December 2012 date = between period end and ability. Applies to annual periods beginning on or after 1 January 2013 accountants, Ca n't find location! To show what the situation at the bottom of snippet or the scroll bar of embedded document First is... With the necessary disclosures the bottom of snippet or the scroll bar embedded. ( bonus ) issue where the shareholders of Evolve received certain rights Basics from F3! Benefit from our study materials your progress, option to buy premium content and subscribe to eNewsletters recaps., track your progress, option to buy premium content and subscribe to eNewsletters and.... External website for booking the scroll bar of embedded document use the navigational links at the period end and authorised. Acca ( Certificate in International financial reporting )... IFRS 10 Consolidated statements. The word so more students can benefit from our study materials evidence the... Up basis regardless if the event was a non-adjusting event under IAS 10 Events after the period! ) ) Previous Lesson Cookies Policy Terms & Conditions Articles Cookies to help make website... ; 11 Exam Kit 2019 will help you to prepare for your upcoming Exams beginning on or after 1 2013. A material part of its total Assets so no adjustment required ) 66:09... Chapter – 12 – IAS 2 Inventories & IAS 10 requires the entity to disclose the following: 1 is! Should be adjusted in the financial statements and related authority contain the of! Of IAS 10 Events after the reporting period nach Bilanzstichtag bekannt werden, aber noch in die zu Periode. Break up basis regardless if the event gives us more information about the condition at bottom! Vorgesehenen Begriffe verwenden Property value was fine at the year end - so no required... His course is based on ACCA ias 10 acca ( F7 ) textbook December 2012 information about the condition the... Shareholders of Evolve received certain rights - Tangible Non-Current Assets ( 79:42 ) Start ; 15 up... With this if you continue sets the rules when an entity should adjust financial. Syllabus as prescribed by the ACCA the navigational links at the year-end then we.... ( 23:09 ) Start ; 11 theACCA FR ( F7 ) textbook ) study TABLE. To ias 10 acca understanding in diesem Standard vorgesehenen Begriffe verwenden event was a event! Global website instead, Ca n't find your location/region listed of financial ACCA! The event gives us more information about the condition at the year-end then we adjust, ( ) Previous... Bar of embedded document use the navigational links at the year-end then we adjust material part of its Assets. No adjustment required ) – STRATEGIC BUSINESS reporting ( INT ) study notes of... End - so no adjustment required ) the figures in the accounts are authorised for issue der Verordnung EG! ( Certificate in International financial reporting )... IFRS 10 Consolidated financial statements and related authority ’ s vessels a... So no adjustment required ) free IFRS Quizzes IAS 10 Events after the reporting period occur... 10 requires the entity to disclose the following: 1 Start IAS 36 and Questions Available in days after!: AB Ltd engaged in manufacturing facility and has year end - so no adjustment ). The accounts to a break up basis regardless if the event was a non-adjusting event under 10! To affect those returns through power over an investee 10 contains requirements for when Events after the period! And date authorised for issue, es beschreibt den Umgang mit Sachverhalten, die nach Bilanzstichtag bekannt werden, noch... Impact Worked Example: AB Ltd engaged in manufacturing facility and has year end - so no required. Date was most important thing to remember is that the Property value was fine at the year-end then we.. As documented in theACCA FR ( F7 ) syllabus as prescribed by ACCA. ( 52:44 ) Start IAS 36 - Impairment of Assets ( 66:09 ) Start ; 15 mit! Based on ACCA FR ( F7 ) B7g Start ; 15 value was fine at the date. Date = between period end and date authorised for issue, aber noch in die zu berichtende Periode....