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Contents
32.2 Events after the end of the reporting period defined.
32.2.1 Extract from FRS102: Section 32.2- 32.3.
32.3 Recognition and measurement – Adjusting events after the end of the reporting period.
32.3.1 Extract from FRS102: Section 32.4-32.5.
32.3.2.2 Examples of adjusting post balance sheet events.
32.3.2.2.1 Further worked examples of adjusting post balance sheet events.
32.4 Recognition and measurement – Non-adjusting events after the end of the reporting period.
32.4.1 Extract from FRS102: Section 32.6-32.7.
32.4.2.2 Example of non-adjusting post balance sheet date events.
32.5.1 Extract from FRS102: Section 32.7-32.7B.
32.6.1 Extract from FRS102: Section 32.8.
32.7.1 Extract from FRS102: Section 32.9.
32.8 Adjusting events after the end of the reporting period.
32.9 Non-adjusting events after the end of the reporting period.
32.9.1 Extract from FRS102: Section 32.10.
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The below extracts and guidance is applicable for periods beginning before 1 January 2019 and are based on the September 2015 version of FRS 102. For periods beginning on or after 1 January 2019, the March 2018 version of FRS 102 applies which incorporates the changes made by the Triennial review of FRS 102. Note the March 2018 version of FRS 102 can be voluntarily applies for periods beginning before 1 January 2019. For the extracts from the March 2018 version of FRS 102 and the related guidance please click on the following link. For details of a summary of the main changes as a result of the triennial review please see the following link.
32.7 Disclosure
32.7.1 Extract from FRS102: Section 32.9
Date of authorisation for issue
32.9 An entity shall disclose the date when the financial statements were authorised for issue and who gave that authorisation. If the entity’s owners or others have the power to amend the financial statements after issue, the entity shall disclose that fact.
32.7.2 OmniPro comment
Section 32.9 of FRS 102 requires the date when the financial statements were authorised for issue to be disclosed as well as who gave the authorisation. If the directors have the power to change the financial statements after issue this must be disclosed. See illustration of the requirements below.
Example 7: Extract for the approval of the financial statements
The financial statements were approved by the Board of Directors on (Insert date) and authorised for issue on (insert date). They were signed on its behalf by
Mr A Director Ms B Director
Director Director
DATE: __________________ DATE: __________________
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Example 2: Recoverability of trade debtor balances.
Example 3: Indicators of impairment of PPE/land etc.
Example 4: Profit on sale of plant after year end following decision to close.
Example 5: Closing office and relocating.
Example 6: Other than Going concern disclosure.
Example 7: Extract for the approval of the financial statements.
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