Preparing financial statements takes time. 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 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.

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. The course includes practical examples and interim tests to enhance understanding.

This course will enable you to:

• 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.

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.