Question
How are stock splits declared after year-end handled in EPS presentation?
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Answer
They are given retroactive EPS effect.
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Question
How are post-year-end fire, flood, or casualty events classified?
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Answer
Type II; disclose if material.
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Question
What is the treatment of a litigation settlement for a claim outstanding at year-end?
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Answer
Type I; adjust the accrual.
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Question
What is the key trap in classifying subsequent events?
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Answer
Classify the condition, not just the event.
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