HW on Events after the Reporting Period

HW on Events after the Reporting Period - HOMEWORK ON...

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HOMEWORK ON EVENTS AFTER THE REPORTING PERIOD Fill in the blanks. 1. _______________________ are those events, favourable and unfavourable, that occur between the end of the reporting period and date when the financial statements are authorized for issue. 2. _______________________ are those that provide evidence of conditions that existed at the end of the reporting period. 3. _______________________ are those that are indicative of conditions that arose after the reporting period. 4. An entity shall _________________ the amounts recognized in its financial statements to reflect adjusting events after the reporting period. 5. An entity shall ________________ the amounts recognized in its financial statements to reflect non-adjusting events after the reporting period. 6. If an entity declares dividends to holders of equity instruments after the reporting period, the entity shall __________________ those dividends as a liability at the end of the reporting period. 7. An entity shall not prepare its financial statements on a ______________________ if management determines
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