Beyond the GAAP n°146 - July-August 2020
Unsurprisingly, the financial statements at 30 June 2020 that have been published to date reflect the significant impact of the COVID-19 crisis on companies’ financial positions.
Given that the outlook for the second half of 2020 is still uncertain in many cases, issuers in particular will (unfortunately) need to draw once again on the guidance from standard-setters, regulators and the accounting profession issued to deal with the consequences of the crisis on the financial information.
Some companies will also need to spend time in the second half finalising the assessments carried out in order to determine lease terms under IFRS 16, in accordance with the IFRS Interpretations Committee decision in November 2019.
Finally, as previously announced, we present the IFRS IC’s recent tentative agenda decision on reverse factoring.