Impact of COVID-19 on 30 June 2020 Financial Statements
The 2019 novel coronavirus (COVID-19) outbreak poses a serious public health threat. It is interrupting the movement of people and goods throughout the world, and many levels of governments are implementing restrictions on individuals and businesses. These actions are likely to have a devastating impact on the global economy and many businesses, which will have a flow-on effect to 30 June 2020 financial statements.
This hands-on masterclass will have you ready to prepare 30 June 2020 financial statements reflecting the impact of COVID-19.
Presented by BDO’s IFRS Advisory experts and using multiple practical case studies, it will assist you to develop an approach to follow when your organisation is preparing 30 June 2020 financial statements and set you on a path to be ‘audit ready’.
About the Virtual Masterclass
Through the use of multiple practical case studies, attendees will leave the day with an in-depth knowledge of accounting for and disclosing:
- ‘JobKeeper’ payments and other government stimulus
- Rent concessions (both by lessors and lessees)
- Impairment testing of financial assets (expected credit loss calculations)
- Impairment testing of non-financial assets, including right-of-use assets
- Revenue and/or income recognition
- Various provisions, including onerous contracts and termination provisions
- Modifications of financial assets and liabilities, including renegotiated repayment terms on loans
- Going concern assessments
- Write-down of inventories
- Investments in associates and joint ventures
- Valuing assets and investments.
Who should attend:
For-profit and not-for-profit Chief Financial Officers, Financial Controllers, Finance Managers, Accountants, Auditors and those involved in any aspects of financial or corporate reporting.