As per AS-4 "Contingencies & Events occuring after Balance Sheet date", an event is said to be adjusting if the contingency existed on the balance sheet date. No matter whether the contingency affect the going concern or not.
However where any event has occured which changes our fundamental assumptions of Going concern the accounts should be prepared on liquidation basis and not on going concern basis. e.g. Fixed Assets to be depreciated over the remaining life of the business & etc.
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