The Effects of COVID-19 on Your Financial Reporting Considerations
Presented by Jeff Sailor
In this brief 4-minute video Jeff Sailor discusses the impact of COVID-19 on your accounting estimates, in addition to answering two main questions:
- Are the decisions and judgements reasonable?
- Do you have enough information?
Jeff Sailor addresses the impact COVID-19 has on your Consideration for Going Concern. Every business has conditions, only those that rise to substantial doubt will create disclosure concerns.
Subsequent events are events or transations that occur after the balance sheet date, but before the financial statements are issued.
So, how has COVID-19 impacted you or your business? Learn what qualifies as a recognized subsiquent event and an unrecognized subsiquent event in this short video.