An event occurring after balance sheet date is a circumstance that has arisen,or information that has become available,after reporting date but before the time of completion of the report:

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This is because an event occurring after the balance sheet date is commonly referred to as a post-balance sheet event or subsequent event. It needs to be disclosed in the financial statements if it meets certain criteria, such as having a material impact on the company's financial position and performance.

An Event Occurring After Balance Sheet Date Is a Circumstance