With Speaker Robert Kirk

The Covid-19 outbreak and the impact of Brexit on financial reporting is very wide ranging and will require both accountants and auditors to look very carefully at the accounting standards to ensure that reporting entities are taking both events properly into consideration in the preparation of financial statements ending on 31st December 2019 and in subsequent accounting years.

This short course is designed to briefly outline the main issues that have arisen as a result of these very unusual events. It will cover the following:
 

• The impact on the going concern concept

• Events after the reporting period  (December 2019 year ends)

• Impairment of both tangible and intangible assets

• Impairment of inventories

• Recovery of trade and other receivables

• Fair value measurement

• Provisions particularly onerous contracts, restructuring and insurance recovery

• Employee contracts

• Accounting for various government assistance

• Deferred and current tax impact

• Revenue recognition particularly variable consideration

• Disclosure of key judgments and sources of estimation uncertainty

• Impact on dividends

• Impact on strategic reports – risks and uncertainties

• Possible EBITDAC reporting?