COVID-19 and application of International Financial Reporting Standards (IFRS)
Listen to the Canadian Accounting Standards Board (AcSB) discuss potential COVID-19 financial reporting considerations under IFRS and provide an update on current international standard-setting initiatives.
The impact of the COVID-19 crisis is unique, and we recognize the challenges faced by organizations. Entities that apply IFRS will need to assess how COVID-19 will impact their financial statements. This webinar explores specific accounting matters that entities should consider during this time.
The COVID-19 related financial statement considerations include:
- potential impact on lease accounting
- accounting for government loan programs
- accounting for debt modifications
- impairment of non-financial assets
- potential impacts on IFRS 13, Fair Value Measurement, including discount rates
- income taxes
- events after the reporting period
- going concern and liquidity risk
- expected credit losses
AcSB and CPA Canada
- financial statement preparers
- practitioners
- directors
- other users