The CPA Canada Handbook is available to most post-secondary students through their educational institution’s subscription. Visit http://edu.knotia.ca to complete this exercise. (You may need to complete this exercise on campus, or log in through your institution’s VPN portal.)

Go to the standards in Part I (IFRS) of the “Accounting” portion of the Handbook. View IAS 10—Events after the Reporting Period (i.e., subsequent events).

Required:
a. Identify the paragraph that defines “events after the reporting period.” Summarize the substance of this paragraph.
b. What action(s) must an entity take with respect to adjusting events after the reporting period?
c. What action(s) must an entity take with respect to non-adjusting events after the reporting period?