What is the difference between a type 1 and type 2 subsequent event and how are they reported differently in the financial statements Also, be prepared to give an example of each Financial Statement Date 12 31 Audit Report Date 2 15 Date Financial Statements are Issued 3 15 Subsequent Event Period Dual Dating Period Subsequent Discover of Facts

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Question: What is the difference between a type 1 and type 2 subsequent event and how are they reported differently in the financial statements? Also, be

What is the difference between a type 1 and type 2 subsequent event and how are they reported differently in the financial statements? Also, be prepared to give an example of each.

Financial Statement Date - 12/31

Audit Report Date - 2/15

Date Financial Statements are Issued - 3/15

Subsequent Event Period

Dual Dating Period

Subsequent Discover of Facts

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