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Accounting implications of the effects of COVID-19
COVID-19 is having a significant impact on many reporting entities. There are numerous uncertainties and practical difficulties which will translate into many challenges and risks in preparing financial statements which all entities need to think about.
This page is designed to help you navigate the financial reporting challenges arising from the COVID-19 pandemic. For broader information on how to prepare your organisation and respond, please visit our central COVID-19 page.
The implications for financial statements include not only the measurement of assets and liabilities but also disclosure and possibly an entity’s ability to continue as a going concern. Our In Depth publication provides detailed guidance on the potential financial reporting impacts of COVID-19. This publication is relevant for both for-profit entities and PBEs.
Our podcasts
Is the COVID-19 pandemic an indicator of impairment in IAS 36? If yes, how do you do the impairment test in this uncertain time? How is risk factored into cash flows and the discount rate? Listen to our experts answer these challenging questions in relation to COVID-19 impairment considerations.
Listen to our NZ GAAP experts discuss the impacts, including accounting issues to consider following the NZ Government economic response to COVID-19.
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