SEC2015. Current Accounting Challenges Driven by the COVID-19 Environment

This panel will discuss the ongoing accounting issues that registrants are facing that have arisen in the COVID-19 environment. As we near the end of 2020, the panel will share what we have learned in addressing the most common and pervasive accounting issues this year with a particular focus on issues involving complexity and judgment driven by the tension of the environment that will be of continued interest at year-end and ongoing for 2021. Our discussion will cover the following topics: various types of contract modifications related to contracts with customers, leases, employment arrangements and financings; exit and disposal cost obligations; restructuring activities; and issues arising from the CARES Act.

Learning Objectives:

• Identify current accounting issues driven by the COVID-19 environment.
• Understand how registrants are addressing the various issues including the areas of greatest complexity and judgment as well as understanding alternative approaches to account for certain issues.