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Audits & Assurance

COVID-19 will change how companies report earnings – 20 point checklist for CFOs

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[Source: www.businessinsider.com]

The COVID-19 pandemic has had an adverse impact on all aspects of the economy, be it earnings, supply chains, operational efficiencies and the stock markets.

Since the financial year ends on March 31, 2020 in India, it falls amidst the COVID-19 pandemic. This will have an impact on the way companies report their earnings for the financial year 2019-20. To deal with the accounting issues caused due to the volatility, financial uncertainty and fluctuating valuations, the Institute of Chartered Accountants of India (ICAI) has issued an advisory.

Nangia Andersen, a tax practice firm has summarised the top 20 accounting challenges that companies will have to keep in mind while reporting earnings this year.

Download: COVID-19 will change how companies report earnings – these are the top 20 things execs need to keep in mind _ Business Insider India

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