As a result of the COVID-19 pandemic, there are a number of accounting considerations for business owners, lenders and other stakeholders. These considerations will have an impact on almost every entity.
In our recent Experts in Residence session, Financial Growth, Sandbox hosted financial experts of Grant Thornton to discuss topics surrounding how to understand financial reporting implications for your business as it relates to COVID-19.
Many questions were asked, and many were answered! Check out the video below to get acquainted with our experts, the topic, and leave this page feeling supported and more knowledgeable when it comes to financial reporting for your business.
Some of the main points covered include:
- Going concern
- Subsequent events
- Accounting for government assistance
- Asset evaluation and impairment
- Other implications you may encounter!
Wayde Putnam CPA, CA
Partner, Assurance Services, Grant Thornton LLP
Wayde is the leader of Grant Thornton’s Barrie office, and a Partner in the Assurance services practice. Wayde has over 20 years of experience serving a wide spectrum of private enterprise clients covering numerous industries including: construction, infrastructure, agriculture, manufacturing, transportation, retail, and gaming for both profit and not-for-profit organizations.
Manager, Assurance Services, Grant Thornton LLP
Austin is a Manager in the Assurance services practice who works out of Grant Thornton’s Mississauga Office. Austin has over 5 years of experience serving and advising a variety of privately-held-business clients. Austin specializes in servicing clients that operate in the manufacturing and distribution space. In addition to performing assurance engagements for various clients, Austin also works with clients and advises on the accounting treatment/impact of complex transactions through his work in Grant Thornton’s Financial Reporting Advisory Services practice.