ACCT3604 B Question + Define an adjusting event after the balance sheet date and a non-adjusting event after the balance sheet date and state how each should be accounted for. (6 marks) FPS Company is a large manufacturing plant. After the date of the balance sheet, but prior to the financial statements being authorised for issue, the following material events were discovered: i A receivables balance at the balance sheet date will not now be received ii. FPS announced a bid to take over another company. ii. Material errors show that the financial statements are incorrect. iv. The factory workforce started strike action, for an indefinite period. For each event described above, state if it should be treated as an adjusting or non-adjusting event after the balance sheet date. (6 marks