COVID-19 – Financial reporting implications
Discussing the accounting and disclosure implications and actions management can take now
Discussing the accounting and disclosure implications and actions management can take now
Most companies are likely to be impacted by the COVID-19 coronavirus pandemic, either directly or indirectly, and the increased economic uncertainty and risk may have significant financial reporting implications.
In this podcast, KPMG's global IFRS leader, Reinhard Dotzlaw, asks Gabriela Kegalj, Chris Spall and Brian O’Donovan to share their insights on the accounting and disclosure implications for companies, and the actions management can take now.
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“COVID-19 poses existential threats on the ability of a business to survive, which in turn have significant financial reporting impacts – from going concern and liquidity to recoverability and valuation of assets.” Reinhard Dotzlaw
Gabriela Kegalj
Chris Spall
“We sometimes say in revenue accounting that even fixed consideration can be variable. If you are offering concessions to your customers, that could have a dramatic impact on your revenue recognition.” Brian O'Donovan |
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