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In response to "Can any accountants explain this concept to me like I'm a child? -- (link)" by David

it takes a while to get shit together, and sometimes *things happen* while you're doing it that can't be directly factored in.

generally because the filing is about a specific period and the *thing* happened outside that period. if the *thing* could have a material impact on the business, you probably should (and sometimes are required to) mention it.

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