Asset Impairment is Expected to Hit 2020 Financial Statements

Some companies are expected to report impairment losses in fiscal year 2020 because of the COVID-19 crisis. Depending on the nature of your operations and assets, the pandemic could be considered a “triggering event” that warrants interim impairment testing. [...]

By |2020-06-19T13:42:33-04:00June 19th, 2020|Categories: Audit, Blog, COVID-19, GAAP|Tags: , , , , |Comments Off on Asset Impairment is Expected to Hit 2020 Financial Statements

Beware: Coronavirus may affect financial reporting

The coronavirus (COVID-19) outbreak — officially a pandemic as of March 11 — has prompted global health concerns. You may also be worried about how it will affect your business and its financial statements for 2019 and beyond. Close up on financial [...]

By |2020-03-25T18:15:12-04:00March 18th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , |Comments Off on Beware: Coronavirus may affect financial reporting