Each of the following events occurred after the reporting date of 31 March 2015, but befor

Each of the following events occurred after the reporting date of 31 March 2015, but before the financial statements were authorised for issue.

Which would be treated as a NON-adjusting event under IAS 10 Events After the Reporting Period?

A.A public announcement in April 2015 of a formal plan to discontinue an operation which had been approved by the board in February 2015

B.The settlement of an insurance claim for a loss sustained in December 2014

C.Evidence that $20,000 of goods which were listed as part of the inventory in the statement of financial position as at 31 March 2015 had been stolen

D.A sale of goods in April 2015 which had been held in inventory at 31 March 2015. The sale was made at a price below its carrying amount at 31 March 2015

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  • 提问人:00****21
  • 发布时间:2019-01-02

2019-01-02 19:20   

正确答案:A

A board decision to discontinue an operation does not create a liability. A provision can only be made on the announcement of a formal plan (as it then raises a valid expectation that the discontinuance will be carried out). As this announcement occurs during the year ended 31 March 2016, this a non-adjusting event for the year ended 31 March 2015.

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