(a) IAS 10 Events After the Reporting Period states that assets and liabilities should be adjusted for events occurring after the statement of financial position date that provide additional evidence relating to conditions existing at the statement of financial position date. It specifically includes the example of bad debts, where evidence of bankruptcy of a debtor occurs after the year-end.
In this case, Earley Enterprises appears to have recovered part of the debt and as such only GH¢200,000 needs to be provided. It may be argued that the receivership has occurred as a result of events occurring after the statement of financial position date, as a result of a change in legislation for example, but this is unlikely.

(b) It is likely that the fall in the value of the property will fit the IAS 10 definition of adjusting events noted in (a) above, unless, again, it can be argued that the decline in the property market occurred after the year-end.
IAS 36 Impairment of Assets and IAS 16 Property, Plant and Equipment require that the carrying amount of property, plant and equipment should be reviewed periodically in order to assess whether the recoverable amount has fallen below the carrying amount. Where it has, the property, plant and equipment should be written down to the recoverable amount, either through the statement of profit or loss as an expense, or through a revaluation reserve in shareholder’s equity, but only where that reserves has been created by a previous revaluation surplus on the same asset.

(c) IAS 2 Inventories requires that inventories be stated at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.
Unless Earley was making a significant margin on the tricycles, it is likely that the reduction in selling price of 30% will necessitate a write-down to net realisable value, especially considering the transportation costs to Eria which must be included. If the Eria option is unlikely to proceed, it may be necessary to write the tricycles down to scrap value.

(d) Under IAS 10, the nationalisation is likely to be regarded as a non-adjusting event that merely requires disclosure in the financial statements. IFRS 10 Consolidated Financial Statements, requires that an investment in an enterprise should be accounted for as an investment (under IFRS 9 Financial Instruments) from the date that it ceases to fall within the definition of a subsidiary and does not become an associate. It seems here that Earley has neither control nor significant influence, nor even an investment as the assets have been in fact, expropriated. The loss of the investment should be accounted for in the year in which it occurred, but disclosed in the current year.
If the loss of the subsidiary results in Earley no longer being a going concern, then the event becomes an adjusting event.

(e) & (f) Both of the events described are non-adjusting events which should be disclosed, but not adjusted for in the current year financial statements.