CFC2009. COVID-19 Accounting & Financial Reporting Update & Key Reminders for Year-end

The coronavirus (COVID-19) has had a significant impact on the results of companies’ operations. Given the current market conditions and concerns about the pandemic, fiscal 2020 has been particularly challenging from an accounting and financial reporting perspective for many companies. The learning objectives for this course will include gaining an understanding about the accounting and financial reporting areas most impacted by COVID-19 for a range of topics, including the different models and triggering events for impairment assessments of tangible, intangible, and financial assets; accounting for the impact on revenue recognition, inventory, debt, taxes and lease accounting, and considerations related to reporting and presentation impacts for year-end financial statements.

Learning Objectives:

• 1) Gain an understanding of the general accounting and financial reporting areas impacted by of COVID-19
• 2) Understand specific areas of accounting complexity resulting from COVID-19 including, impairments, revenue recognition, taxes, and leases
• 3) Identify financial statement and disclosure requirements impacted by COVID-19