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Coronavirus – Accounting Issues

The Covid-19 global pandemic brings with it many accounting challenges and issues that may arise in the preparation of a Company’s latest financial statements.

We have created an accounting issues document which explores some of the key issues that may arise and those which will need consideration by finance teams and Directors during the preparation of the financial statements under Financial Reporting Standard 102 (“FRS 102”). Similar issues arise for companies with a year end prior to the outbreak and those with a year end after the outbreak.

Here at James Cowper Kreston we are here to support you through the good times and the bad. All of our resources are fully at your disposal to help you through these troubled times.

We have a dedicated section on our website where we are sharing information, guidance and insight, updated for each new announcement as quickly as we can. Please check back here regularly.

Recent updates include:
PPE sales become VAT free
Webinar – R&D Tax Relief
Webinar – Company funding and Covid complications
Practical Advice Document

We intend to keep you regularly updated as this fast moving situation continues – apologies if this is an annoyance – we would rather more of our clients are aware than less.

If you require any further information on the attached please contact your usual James Cowper Kreston contact or one of the named contacts at the end of the attached document.