Coronavirus and FRS 102: financial reporting

It’s quite clear that coronavirus is a devastating, exceptional and extraordinary worldwide event which will have a significant financial impact on many entities. The financial reporting implications of coronavirus, together with the Government support, could prove challenging. 

We have provided analysis on a number of areas detailing:

  • what FRS 102 currently says; 
  • the practical impact and interpretation for preparers of financial statements; and 
  • our advice to entities. 

Whilst the articles will inform accounting work they have been written in the generality – each entity will have unique issues which must also be considered.