As part of the ASB's convergence project, IAS 10 has been issued to replace IAS 10 Events After The Balance Sheet Date (revised 1999). The main change is the removal of dividends declared after the balance sheet date, as adjusting events. Instead they should be disclosed in the notes. They do not meet the definition of a liability under IAS 37 Provisions, Contingent Liabilities and Contingent Assets.
Similarly, dividends receivable from associates/subsidiaries, relating to a period prior to the balance sheet date, are now classified as non-adjusting.
There is also no exceptional provision in IAS 10 to use prudence to reclassify a non-adjusting event as adjusting.
The objectives of IAS 10 are as follows:
To prescribe when an entity should adjust its financial statements for events after the balance sheet date, i.e. adjusting events
To prescribe the disclosures about the date of authorisation of the financial statements for both adjusting and non-adjusting events, and for non-adjusting events themselves.
IAS 10 also includes a requirement that an entity should not prepare its financial statements on a going concern basis if events after the balance sheet date indicate that it is no longer appropriate.
The standard should apply in accounting for and disclosure of events after the balance sheet date.
Events after the balance sheet date: these occur between the balance sheet date and the date the financial statements are authorised for...
TABLE OF CONTENTS 
