Augsburg Company's board of directors met and authorized its financial statements on February 2. The company plans to make its financial statements available to the public on February 10. On February 8, a flood destroyed Augsburg's major manufacturing facility. Does Augsburg need to report the loss of the manufacturing facility as a subsequent event under IFRS?

Answer rating: 100% (QA)

Under International Financial Reporting Standards IFRS subsequent events are divided into two types ... View the full answer