Adjusting Events - Additional Evidence

Hi sir, hope you're well. Let us say at balance sheet date, provision for doubtful debts from a customer stood at 20%. However due to a tsunami the customer's entire premises were wiped out and thus had to be 100% written of in our company's books. Here, would this constitute an adjusting event? Since we cannot really say that the circumstances of 100% write-off existed at balance sheet date, since the event of the tsunami happened after balance sheet date only. So my question is would this be considered an adjusting event, and if so, why. Thanks Video Details ------------- P1 - Accounting Standards - CA Inter (New) AS 4 #2. Adjusting & Non Adjusting Events

Devaprasad Jothimani

CA Inter

★ 0

03-Mar-24 19:52

133