BC84 An entity will have made estimates in accordance with previous GAAP at the date of transition to IFRSs. Events between that date and the reporting date for the entity’s first IFRS financial statements might suggest a need to change those estimates. Some of those events might qualify as adjusting events in accordance with IAS 10 Events after the Balance Sheet Date. [In September 2007 the IASB amended the title of IAS 10 Events after the Balance Sheet Date to Events after the Reporting Period as a consequence of the revision of IAS 1 in 2007. When it issued IFRS 18, the IASB carried over these requirements in IAS 1 to IFRS 18.] However, if the entity made those estimates on a basis consistent with IFRSs, the Board concluded that it would be more helpful to users - and more consistent with IAS 8 - to recognise the revision of those estimates as income or expense in the period when the entity made the revision, rather than in preparing the opening IFRS balance sheet (paragraphs 14–17 of the IFRS).