COVID-19 and Accounting

Has Covid-19 affected your Accounting business?

In the year 2020 we have seen COVID-19 disrupt the lives of billions of people across the globe. It is a time like no other in every industry and field.

Many jobs have been halted as companies close and some have shifted from working in direct contact with clients and colleagues to working remotely from their dining rooms which have become their makeshift home offices.

Guess what? Accounting is no different.

Accounting is one of the most integral functions for almost any business. Whether you are a bookkeeper or an actual accountant at a small firm, or by sizable finance departments with dozens of employees at larger companies their task in handling the financial transactions cannot be overlooked.

Measures taken to contain the virus have affected economic activity, which in turn has implications for financial reporting. The implications not only includes the measurement of assets and liabilities but also disclosure and possibly an entity’s ability to continue as a going concern.

I hope you stay healthy and Covid 19 safe at this time as we work to build our economy.

Once again welcome and do not hesitate to participate. We will be sharing tips in the upcoming weeks on how to improve your Accounting Firm during a Pandemic. Stay Tune.

Leave a Reply