Question 1

Requirements other than those in AASB 110 regarding after-reporting-date-events include:

Accepted Answer

A)  AASB Framework requires that the financial statements fully reflect all financial impacts either through note disclosure or recognition in the financial statements of any events that occur up to the date of completion. 
B)  The Corporations Law requirement that a company's directors must give details in their report of any matter or circumstance that has arisen since the end of the year that has significantly affected, or may significantly affect, the entity's operations or the result of those operations or state of affairs in future financial years. 
C)  The Corporations Law regulations regarding the conduct of an audit requires auditors to qualify any set of financial statements that do not fully incorporate either in note disclosure or full recognition in the financial statements all events up to the signing of the audit report. 
D)  AASB Framework requires that the financial statements fully reflect all financial impacts either through note disclosure or recognition in the financial statements of any events that occur up to the date of completion and The Corporations Law requirement that a company's directors must give details in their report of any matter or circumstance that has arisen since the end of the year that has significantly affected, or may significantly affect, the entity's operations or the result of those operations or state of affairs in future financial years. 
E)  None of the given answers. 
A)  AASB Framework requires that the financial statements fully reflect all financial impacts either through note disclosure or recognition in the financial statements of any events that occur up to the date of completion. 
B)  The Corporations Law requirement that a company's directors must give details in their report of any matter or circumstance that has arisen since the end of the year that has significantly affected, or may significantly affect, the entity's operations or the result of those operations or state of affairs in future financial years. 
C)  The Corporations Law regulations regarding the conduct of an audit requires auditors to qualify any set of financial statements that do not fully incorporate either in note disclosure or full recognition in the financial statements all events up to the signing of the audit report. 
D)  AASB Framework requires that the financial statements fully reflect all financial impacts either through note disclosure or recognition in the financial statements of any events that occur up to the date of completion and The Corporations Law requirement that a company's directors must give details in their report of any matter or circumstance that has arisen since the end of the year that has significantly affected, or may significantly affect, the entity's operations or the result of those operations or state of affairs in future financial years. 
E)  None of the given answers.

Question 2

If an adjusting event that occurs after balance sheet date is considered to be immaterial, AASB 110 requires that the entity:

Accepted Answer

A)  must disclose the nature of the event and a statement that an estimate of the financial effects cannot be made. 
B)  must recognise the event at balance date. 
C)  need not recognise nor disclose the event. 
D)  must recognise the event at balance date and need not recognise nor disclose the event. 
E)  None of the given answers. 
A)  must disclose the nature of the event and a statement that an estimate of the financial effects cannot be made. 
B)  must recognise the event at balance date. 
C)  need not recognise nor disclose the event. 
D)  must recognise the event at balance date and need not recognise nor disclose the event. 
E)  None of the given answers.

Requirements other than those in AASB 110 regarding after-reporting-date-events include:

If an adjusting event that occurs after balance sheet date is considered to be immaterial, AASB 110 requires that the entity:

An Overview of the Australian External Reporting Environment

The Conceptual Framework of Accounting and Its Relevance to Financ

Theories of Financial Accounting

An Overview of Accounting for Assets

Depreciation of Property, Plant and Equipment

Revaluation and Impairment Testing of Non-Current Assets

Inventory

Accounting for Intangibles

Accounting for Heritage Assets and Biological Assets

An Overview of Accounting for Liabilities

Accounting for Lease

Set-Off and Extinguishment of Debt

Accounting for Employee Benefits

Share Capital and Reserves

Accounting for Financial Instruments

Revenue Recognition Issues

The Statement of Comprehensive Income and Statement of Changes in E

Accounting for Share-Based Payments

Accounting for Income Taxes

Cash-Flow Statements

Accounting for the Extractive Industries

Accounting for General Insurance Contracts

Accounting for Superannuation Plans

Segment Reporting

Related-Party Disclosures

Earnings Per Share

Accounting for Group Structures

Further Consolidation Issues I: Accounting for Intragroup Transact

Further Consolidation Issues Ii: Accounting for Minority Interests

Further Consolidation Issues Iii: Accounting for Indirect Ownershi

Further Consolidation Issues Iv: Accounting for Changes in the Deg

Accounting for Equity Investments

Accounting for Equity Investments

Accounting for Foreign Currency Transactions

Translation of the Accounts of Foreign Operations

Accounting for Corporate Social Responsibility

Filters

Exam 24: Events Occurring After Balance Sheet Date

Requirements other than those in AASB 110 regarding after-reporting-date-events include:

If an adjusting event that occurs after balance sheet date is considered to be immaterial, AASB 110 requires that the entity:

An Overview of the Australian External Reporting Environment

The Conceptual Framework of Accounting and Its Relevance to Financ

Theories of Financial Accounting

An Overview of Accounting for Assets

Depreciation of Property, Plant and Equipment

Revaluation and Impairment Testing of Non-Current Assets

Inventory

Accounting for Intangibles

Accounting for Heritage Assets and Biological Assets

An Overview of Accounting for Liabilities

Accounting for Lease

Set-Off and Extinguishment of Debt

Accounting for Employee Benefits

Share Capital and Reserves

Accounting for Financial Instruments

Revenue Recognition Issues

The Statement of Comprehensive Income and Statement of Changes in E

Accounting for Share-Based Payments

Accounting for Income Taxes

Cash-Flow Statements

Accounting for the Extractive Industries

Accounting for General Insurance Contracts

Accounting for Superannuation Plans

Segment Reporting

Related-Party Disclosures

Earnings Per Share

Accounting for Group Structures

Further Consolidation Issues I: Accounting for Intragroup Transact

Further Consolidation Issues Ii: Accounting for Minority Interests

Further Consolidation Issues Iii: Accounting for Indirect Ownershi

Further Consolidation Issues Iv: Accounting for Changes in the Deg

Accounting for Equity Investments

Accounting for Equity Investments

Accounting for Foreign Currency Transactions

Translation of the Accounts of Foreign Operations

Accounting for Corporate Social Responsibility

Filters