Home  Journals  International Accounting  3(525) - 2025 March

Theoretical aspects and methodological approaches to accounting for events after the reporting date and probabilistic events

Received: 26 December 2024

Accepted: 24 February 2025

Available online: 13 March 2025

Subject Heading: PRINCIPLES OF ACCOUNTING

JEL Classification: М41

Pages: 21-46

https://doi.org/10.24891/ia.28.3.21

Subject. This article discusses the theoretical aspects and methodological approaches to the reflection of events after the reporting date and probabilistic events in the financial statements, as well as the impact of these events on the reliability and transparency of financial information.
Objectives. The article aims to study the theoretical foundations of accounting for events after the reporting date and probabilistic events, their practical application both in Russian and international accounting systems, and identify the specifics of accounting for these categories, including differences in valuation and reflection in reporting.
Methods. For the study, I used the methods of theoretical analysis and synthesis, as well as comparative analysis.
Results. The article finds that the differences between events after the reporting date and probabilistic events are due to the time factor, the degree of certainty, the disclosure requirements, as well as their nature and accounting methods. The article offers recommendations for improving the methodological framework, harmonizing national standards with international ones, forming uniform principles and unified approaches to accounting for events after the reporting date and probabilistic events.
Conclusions. A differentiated approach to accounting for events after the reporting date and probabilistic events is very important for improving the reliability of financial statements.

Keywords: events after the balance sheet date, adjusting events, non-adjusting events, probabilistic events, contingent liabilities, contingent assets, estimated liabilities, financial statements

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