COVID-19 Implications for Financial Reporting
Many entities that are trading in the unfolding COVID-19 pandemic will suffer loss of revenue, greater expenses, write-off of inventory, and will need to re-evaluate accounting policies, such as estimates, to ensure that they are consistently applied.
Most major accounting firms including the Big 4 firms have created superb online resources that lucidly explain the potential impact from the ongoing pandemic and summarize the key points of accounting standards covering the entire gambit from revenue recognition to onerous contracts. These guides will undoubtedly be vital for any company wondering how to apply the specifics of International Financial Reporting Standards (IFRS) due to the ongoing ...
Get Calling Out COVID-19 now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
