The global spread of the coronavirus has brought a number of unprecedented changes and situations, which affected both our personal and professional lives. As economy, entrepreneurship or accounting itself were also affected, experts from our trusted member Accace prepared a list of the most significant changes in the accounting area.
The changes affect the preparation of financial statements on a going concern basis, impact on financial instruments, impairment of non-fiscal assets, government grants or income tax. Other areas where changes apply are also leases, onerous contracts, revenue recognition, inventories and events after the reporting date, which are all elaborated on in the article.
Accace is a proactive consultancy and outsourcing partner who bridges the gap between needs and solutions. Combining smart and streamlined technology with a holistic approach, we provide an all-round care to clients and consider their matters as our own. With over 800 experts and more than 2,000 customers, we have vast experience with facilitating the smooth operation and growth of small to large-scale, global businesses.
Website:Â www.accace.com
