Question
The financial statements of BARYL BHD for the financial year ended on 31 December 2019 has been authorised for issue to the board of directors
The financial statements of BARYL BHD for the financial year ended on 31 December 2019 has been authorised for issue to the board of directors on 15 February 2020. The followings are events occurred after the reporting period.
(A) A decline of fair value in quoted shares on 12 February 2020 from RM70,000,000 to RM40,000,000.
Required:
(i) Classify each of the event as adjusting or unadjusting event.
(ii) Explain how each event should be treated in the financial statements 2019.
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Economic Influences On The Development Of Accounting In Firms
Authors: George J. Staubus
1st Edition
0367721325, 9780367721329
