DELOITTE: "FINANCIAL REPORTING CONSIDERATIONS RELATED TO COVID-19 AND ECONOMIC DOWNTURN".

Digital Report - immediate delivery to your email. Date of Publishing: September, 2020. No. of Pages: 116.   As COVID-19 continues to spread globally, it may be appropriate for entities to consider the impact of the outbreak on accounting conclusions and disclosures related to, but not limited to, the following: • Impairment of non-financial assets (including goodwill). • Valuation of inventories. • Allowance for expected credit losses. • Fair value measurements. • Onerous contracts provisions. IFRS in Focus 2 • Restructuring plans. • Breach of loan covenants (including impact on the classification of liabilities as current vs non-current). • Going concern. • Liquidity risk management. • Events after the end of the reporting period. • Hedging relationships. • Insurance recoveries related to business interruptions. • Employment termination benefits. • Share-based compensation performance conditions and modifications. • Contingent consideration in contractual arrangements. • Modi