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Coronavirus and financial reporting

Guidance for preparers of financial statements on the coronavirus outbreak, including advice on disclosure of risks and treatment of events after the reporting period.

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Impact on UK GAAP accounts

Impact on IFRS accounts

Issues relating to going concern

Bloomsbury Core Accounting and Tax Service

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Covid-19 issues

A chapter focusing on Covid-19-specific issues in relation to financial statements under new UK GAAP, to help readers understand what reporting entities may need to deal with when preparing their annual reports. The chapter covers events after the end of the reporting period, impairment of assets, going concern, government assistance, judgements and estimation uncertainties.

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External resources

Applying IFRS: Disclosure of COVID-19 impact

Survey of IFRS financial statements from more than 120 companies published after the coronavirus pandemic was declared. It provides examples of disclosures that illustrate the impact on entities which may help businesses in preparing their own financial statements.