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What is the meaning of subsequent events? how can it affect the financial statements?

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Question added by Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies
Date Posted: 2017/05/14
Zainab Al ali
by Zainab Al ali , محاسب , معهد البصائر للتدريب

A subsequent event is an event or transaction occurring after the balance sheet date, but before the financial statements is either issued or available to be issued

Soliman Abd  ALmalak Gendy
by Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

A subsequent event is an event that occurs after a reporting period but(note that it  before issuing the financial statement for this period

-Also it is an event provides additional information about conditions in existance as of the balance sheet date, including estimates used to prepare the financial statement for that period

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