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Quality Of Financial Information And Accounting Considerations During The Covid-19 Pandemic, Maria Markova, Georgi Hristov
Quality Of Financial Information And Accounting Considerations During The Covid-19 Pandemic, Maria Markova, Georgi Hristov
UBT International Conference
The COVID-19 pandemic has posed numerous difficulties before business entities and thus before accounting professionals. The paper summarizes the main issues financial reporting faces during the pandemic with respect to the quality of the financial information provided by the financial statements of the entities. The main quality characteristics of useful financial information are brought to light in the context of the impediments posed by the COVID-19 crisis.
Different aspects of financial reporting are discussed: the implications on the going concern principle; the effects on accounting judgements and estimates; events after the reporting period. The paper provides real-life examples for the …