IAS10_06 - IAS 10 International Accounting Standard 10...

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IAS 10 © IASCF 819 International Accounting Standard 10 Events after the Balance Sheet Date This version includes amendments resulting from new and amended IFRSs issued up to 31 December 2005.
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IAS 10 820 © IASCF C ONTENTS paragraphs INTRODUCTION IN1–IN4 INTERNATIONAL ACCOUNTING STANDARD 10 EVENTS AFTER THE BALANCE SHEET DATE OBJECTIVE 1 SCOPE 2 DEFINITIONS 3–7 RECOGNITION AND MEASUREMENT 8–13 Adjusting events after the balance sheet date 8–9 Non-adjusting events after the balance sheet date 10–11 Dividends 12–13 GOING CONCERN 14–16 DISCLOSURE 17–22 Date of authorisation for issue 17–18 Updating disclosure about conditions at the balance sheet date 19–20 Non-adjusting events after the balance sheet date 21–22 EFFECTIVE DATE 23 WITHDRAWAL OF IAS 10 (REVISED 1999) 24 APPENDIX Amendments to other pronouncements APPROVAL OF IAS 10 BY THE BOARD BASIS FOR CONCLUSIONS
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IAS 10 © IASCF 821 International Accounting Standard 10 Events after the Balance Sheet Date (IAS 10) is set out in paragraphs 1–24 and the Appendix. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 10 should be read in the context of its objective and the Basis for Conclusions, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements . IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.
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IAS 10 822 © IASCF Introduction IN1 International Accounting Standard 10 Events after the Balance Sheet Date (IAS 10) replaces IAS 10 Events After the Balance Sheet Date (revised in 1999) and should be applied for annual periods beginning on or after 1 January 2005. Earlier application is encouraged. Reasons for revising IAS 10 IN2 The International Accounting Standards Board developed this revised IAS 10 as part of its project on Improvements to International Accounting Standards. The project was undertaken in the light of queries and criticisms raised in relation to the Standards by securities regulators, professional accountants and other interested parties. The objectives of the project were to reduce or eliminate alternatives, redundancies and conflicts within the Standards, to deal with some convergence issues and to make other improvements. IN3 For IAS 10 the Board’s main objective was a limited clarification of the accounting for dividends declared after the balance sheet date. The Board did not reconsider the fundamental approach to the accounting for events after the balance sheet date contained in IAS 10. The main changes IN4 The main change from the previous version of IAS 10 was a limited clarification of paragraphs 12 and 13 (paragraphs 11 and 12 of the previous version of IAS 10). As revised, those paragraphs state that if an entity declares dividends after the
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IAS10_06 - IAS 10 International Accounting Standard 10...

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