Potential effects of the coronavirus outbreak on reporting periods
30 March 2020
This pandemic of COVID-19 has led to widespread economic uncertainty and volatility in financial markets. The measures taken across the globe to try to slow the spread of COVID-19 are impacting both the supply and demand for many goods and services. This uncertainty may have implications on financial reporting. So the purpose of this article is to represent the main considerations arising from the impacts of COVID-19 on financial statements to help entities and other participants during preparation of them.