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COVID-19 and financial reporting trends: Accounting for the pandemic in the current quarter

Published on: Jun 05, 2020

To say that financial reporting for the most recent quarter was challenging is an enormous understatement. Companies faced government-mandated shutdowns, supply chain disruptions, implications of the CARES Act,1 and more. At the same time, they had to figure out how to close their books while their employees worked remotely—oh, and manage operations, too!

What financial reporting issues lie ahead given what we have learned from that quarter? What accounting topics are likely to be trending? Why are those topics trending? What tension points will be associated with those trending topics?

This Financial Reporting Alert takes a strategic look at what are likely to be the most common hot topics related to accounting for the coronavirus disease 2019 (COVID-19) pandemic in the current reporting quarter.

This publication was released by our US firm.

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