An Overview of The Impact of COVID-19 Pandemic On Financial Reporting
An Overview of The Impact of COVID-19 Pandemic On Financial Reporting
- COVID- 19 Pandemic has increased business uncertainty and is bound to influence both the way of financial reporting and the content in financial reports. The need for high-quality and reliable financial reports pervades despite the prevailing global circumstances. Paradoxically despite the growing need for guidance to financial reporters, the pandemic has reduced face to face interactions and CPD events. This online course is designed to provide the requisite continuous professional guidance to enhance reporting in this challenging period. The training provides an overview of reporting implications as a result of the pandemic. It lays a foundation for subsequent online training in specific IFRS and IPSAS in light of COVID -19 global pandemic.
- This online training will allow participants to keep abreast of the financial reporting requirements while maintaining social distance.
This course will equip participants with the knowledge and practical skills necessary to
- Identify the reporting implications of COVID-19
- Be aware of expected compliance requirements in reporting
- Be able to interpret financial Statements
- Perform specific functional outcomes in reporting;
- Develop an action plan to continue learning to be ready for future changes
At the end of this training, participants should be able to
- Identify the impact of COVID 19 on past financial year reporting
- Align accounting policies with the reporting in light of the global pandemic
- Identify the specific reporting areas and standards impacted by COVID-19 pandemic
- Comprehend the subsequent specific standards training
- Present financial statements compliant with the relevant reporting standards
- Answer specific reporting questions generated from the learning experience
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Issues To Be Addressed
COVID -19 Implications on:
- Disclosures to be included in 2019 financial statements
- Going Concern Considerations
- Assets carrying values
- Government Assistance and incentives
- Liabilities
- Impact on employee benefit
- Revenue cycles
- Changes on lease contracts
- Financial instruments
- Provisions
- Interim Financial Statements
- You must complete watching the video to earn 3 CPD Units
