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this is a lecture from open tuition to benefit from the lecture you should download the free lecture notes from open tuition com so another accounting standard that goes through and recaps bits and pieces that youve seen from financial accounting this one here though it doesnt really advance things any further I think the only advancement that you actually see is that you have to learn more events after the reporting period that are either adjusting or non adjusting okay youve seen a small list of adjusting and non adjusting events previously in financial accounting now youre gonna get a couple of more that are added on top okay so what we got remember youve got your reporting date at the end of the year something happens between that date and a date that the accounts are authorized for issue does whatever happens in that intervening period go through and mean that we need to adjust our reporting date figures or do we leave them as they were and just make some form of disclosure