Accounting for a post Covid world
Companies coming out of lockdown must assess the impact of the pandemic on business strategy and financial reporting. John Boulton looks at six key issues to discuss at board level and with auditors, including viability, government support, assets and contracts
With a growing number of companies in financial distress as economies emerge from lockdown, financial statements have never been more important. Many businesses will be seeking fresh capital as government support is withdrawn and potential investment opportunities arise. Creditors, and others who use accounts before choosing to do business, will be scrutinising accounts and summary metrics in greater detail.