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Define for gem period to which ias events after reporting

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Reference no: EM133004289

Gem Sportswear Bhd. (Gem), a retail outlet, completed its draft financial statements for the year ended 31 March 2021 on 31 May 2021. The board of directors has reviewed and authorised the financial statements for issue on 30 June 2021, which were subsequently approved by the shareholders at their annual general meeting on 20 July 2021.

Required:

Problem (a) Define for Gem the period to which IAS 10/MFRS 110 Events after the reporting period relates and distinguish between adjusting and non-adjusting events, including an outline of their respective accounting treatments.

Reference no: EM133004289

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