International Accounting Standard 10

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The International Financial Reporting Standard 10 (IAS 10) is an accounting regulation of the International Accounting Standards Board (IASB), which deals with the accounting and disclosures in the notes of events after the balance sheet date .

Goal setting

The standard regulates

  • what information a company has to make about events after the balance sheet date (IAS 10.01).

The decisive factor is the period between the balance sheet date and the day on which the financial statements are approved for publication by management or the supervisory board (IAS 10.17).

central message

For the events after the balance sheet date is between

  • events requiring consideration (IAS 10.08) and
  • differentiate between events that are not to be taken into account (IAS 10.10).

Events that have to be taken into account require an adjustment of the amounts recorded in the balance sheet / profit and loss account (IAS 10.08). Events that are not to be taken into account, on the other hand, do not result in any adjustment to the amounts already recorded (IAS 10.10). If the events are material, information on the type of event and an estimate of the financial impact are required for events that are not to be taken into account (IAS 10.21).

Examples

for events that have to be taken into account after the balance sheet date (IAS 10.09):

  • The settlement of a legal proceeding for which a provision was made during the reporting period .
  • Information that an asset was impaired on the balance sheet date. The insolvency of a customer after the balance sheet date confirms that the corresponding claim must be adjusted accordingly.
  • The discovery of fraud or mistakes.

for events not to be taken into account after the balance sheet date (IAS 10.11 and 10.12):

  • The decline in the market value of financial investments.
  • A dividend distribution resolution does not lead to a reclassification of the amount from equity to debt.

Web link

See also