Ind AS-10 Events after the Reporting Period 

Ind AS 10, Events after the Reporting Period, guides entities on adjusting financial statements for events occurring after reporting periods and requires disclosures about the approval date of financial statements and post-period events. It distinguishes between adjusting events (reflecting conditions existing at the period-end) and non-adjusting events (arising after the period). Adjusting events impact financial statement amounts, while non-adjusting events do not. Disclosure mandates cover approval dates, potential post-period changes, and material non-adjusting events, including their nature and estimated financial effects. Notably, if post-period events suggest the going concern assumption is invalid, financial statements should not be prepared on that basis. Similarly, dividends declared after the reporting period aren’t recognized as liabilities.