Definitions

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • adj. That does not adjust.

Etymologies

from Wiktionary, Creative Commons Attribution/Share-Alike License

non- +‎ adjusting

Examples

  • Any information an entity receives after the date of transition to IFRS about estimates it made under previous GAAP should be treated by it as a "nonadjusting" event after the balance sheet date and accorded the treatment prescribed by IAS 10 (i.e., "disclosure" in footnotes as opposed to "adjustment" of items in the financial statements).

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  • After a series of investiga - (d) Disclose this nonadjusting event in the tions, authorities discovered that when this drug was footnotes. simultaneously used with "BBB," a drug used to regulate hypertension, the patient's blood would clot Answer: (d) and the patient suffered a stroke.

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  • Such declaration is a nonadjusting subsequent event and footnote disclosure is required, unless immaterial.

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  • These are, respectively, "adjusting events after the balance sheet date" and "nonadjusting events after the bal - ance sheet date."

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  • For the purposes of this Standard, post-balance sheet events are catego - rized into "adjusting" and "nonadjusting" events.

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  • (c) Disclose the post-balance sheet event in obligation with an improbable outflow. footnotes as a nonadjusting event. (d) Assuming the probability of the lawsuit be - (d) Ignore the post-balance sheet event. ing decided against Genius Inc. is remote, the entity should disclose it in the footnotes, Answer: (c) because it is a nonadjusting material event.

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  • Examples of nonadjusting events include • Declaration of an equity dividend • Decline in the market value of an investment after the balance sheet date • Entering into major purchase commitments in the form of issuing guarantees after the balance sheet date • Classification of assets as held for sale under IFRS 5 and the purchase, disposal, or expropriation of assets after the balance sheet date • Commencing a lawsuit relating to events that occurred after the balance sheet date

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