Question: Sam Ltd, whose reporting period ends on 30 June 2015, completes its draft financial statements on 18 September 2015. On 30 September 2015, the Board

Sam Ltd, whose reporting period ends on 30 June 2015, completes its draft financial statements on 18 September 2015. On 30 September 2015, the Board of Directors reviews the financial statements, approves them and authorises their issue. Earnings announcements are made on 6 October 2015 and the financial statements are posted to shareholders on 15 October 2015. Sam Ltd’s annual general meeting is held on 24 October 2015 and the financial statements are filed with ASIC on 26 October 2015. The period for which an event would be considered an event occurring after the reporting period for the purposes of AASB 110 will be: Select one: 

a. 30th June 2015 to 30th September 2015 

b. 30th June 2015 to 18th September 2015 

c. 30th June 2015 to 6rd October 2015 

d. 30th June 2015 to 15th October

Step by Step Solution

3.32 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Option a is correct As per AASB 110 the evets can be adjusted between the dat... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!