Non-Adjusting Event After the Reporting Period

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Accounting glossary · Understand, connect, apply

A non-adjusting event after the reporting period points to a condition that arose after the reporting date. IAS 10 generally calls for disclosure if the event is material.

Example

An uninsured warehouse burns down after year-end because of a fire that started after year-end. The damage does not reduce the warehouse’s previous year-end carrying amount on that basis.

Remember the difference

Assess the event’s materiality and disclose its nature and estimated effect when required. A change affecting the going-concern basis calls for a separate assessment.

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Published 9 November 2026. Prepared with AI assistance. Examples are fictional and simplified for learning.

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Examples are simplified for learning. Where a term depends on US law, IFRS, US GAAP or a historical rule, check the context explained above and the requirements relevant to your course.

Study references: OpenStax financial accounting and managerial accounting. For reporting requirements, consult the applicable IFRS Standards or FASB guidance. US tax terms should be checked against the relevant tax-year IRS instructions.

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