Adjusting and Non Adjusting Events

[@SammitSathe]

Hello sir , absolutely loved this explanation . Wanted to get my small query resolved . Here it is . Suppose in the course of going concern assessment of an entity post its deteriorating profit in FY2020-21 and onwards due to unfortunate circumstances (other than due to fire) it decided to convert its capital asset (building) into an investment property(now being its business). This capital asset was used before for running its day to day operations which didn’t work out to be well. (Assuming p&m and other working capital being sold out ) . Deteriorating profit being the reason of discontinuance of sole operation existed as at reporting date . The operations were officially discontinued post 31.3.21 which (say) qualifies for a event after reporting period . Would this discontinued operation later on require us to present a statement of profit/loss for FY2020-21 with net loss being disclosed as “arising from discontinued operation”?

[@tharakasandaruwan3376]

Good one. Thanks.

[@sofiaskan79]

thanks a lot. Do you have any video about IFRS 11?

[@MonuLal23]

🙏