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Vikash ShrivastavaVikash Shrivastava asked 2 years ago
1 Answers
RaviRavi Staff answered 2 years ago

As per AS-4 subsequent event should be adjusted if

  1. Required by LAW / AS (Example Earlier Proposed Dividend)
  2. Affects Going Concern
  3. Clarifies Contingency Which Was Existing on Balance Sheet Date

Fire happened after year end, it is not clarifying any uncertainty / contingency “existing” on balance sheet date, so it wont be accounted (PM Question)

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