Evaluation of Events Occurring After the Reporting Period Under TMS 10 Using Accounting Examples

Abstract

Since the TAS 10 standard covers the reporting period of financial statements in enterprises, it is based on
the period between the balance sheet date and the date on which the financial statements were approved
for publication Dec. It also explains how events that require adjustment and those that do not require
adjustment should be accounted for after the reporting period. In the study, the procedures to be followed
for financial events in accordance with the standard were examined by distinguishing between those
requiring adjustment and those not requiring adjustment. The aim of the study is to explain with examples
what the Events After the Reporting Period are within the scope of the TAS 10 standard and those that
require or do not require accounting for these events. It is accepted that the post-reporting period events
included in the examples occurred during the period starting on the balance sheet date and passing until
the date of approval of the financial statements. The developed examples provided an in-depth treatment
of the subject both in terms of quality and quantity. Financial statements are of great importance in
influencing the financial decisions made by information users. Events that require or do not require
adjustment within the scope of the standard affect the results of the entity's financial statements. It has been
determined that it is important for businesses to make the necessary adjustments to their financial
statements in a timely manner. However, the relevant study differs from the existing studies in that it
provides a holistic sample covering events that require correction, which are often discussed in the literature,
as well as events that do not require correction, but must be explained in footnotes. It also contributes to
filling the empirical gap in the literature by blending the provisions of the standard with current practices
(for example, incentives and litigation processes). As a result of this, it has emerged from the examples that
the decisions that information users will make are affected by the corrections made. Additionally, the
specific topics covered in the TMS 10 standard were also examined and contributed to the literature.