Impact of Covid-19 on the Preparation of US-GAAP Financial Statements and Valuation Differences to HGB/UGB
Date11/05/2020 @ 11:00 am – 12:00 pm
GACC South Members and Non-Members: Free
Registration is required.
This event is in Eastern Standard Time.
The COVID-19 pandemic continues to have serious economic implications for numerous sectors of the economy. The long-term economic and business consequences remain unknown. Among the many consequences of COVID-19, entities will face unique accounting and financial reporting implications and challenges. Impacts such as business and production disruptions, supply-chain interruptions, negative impacts on customers, volatility in the equity and debt markets, reduced revenue and cash flows, and other economic consequences may occur. This webinar provides succinct reminders to companies about some accounting considerations under accounting standards generally accepted in the United States of America (“US GAAP”) that have increased importance and risk in the current environment.
We will discuss topics such as asset impairments (including impairment tests), inventory valuation considerations, impacts on revenue recognition, financial statements disclosures, etc. The webinar will also outline the financial reporting options for treatment of a Paycheck Protection Program (“PPP”) loan, including anticipated forgiveness. This webinar will draw your attention to accounting issues that need to be considered in the coming weeks to avoid any delays (and unwanted surprises) in the financial reporting and close process. Major differences in accounting standards between US-GAAP and the German HGB as well as to the Austrian UGB will be discussed, as well as which differences are more likely to appear in financial reporting for 2020.
Meet our Speakers:
Rödl & Partner- Birmingham
Rödl & Partner- Atlanta