Article Title

Quality of financial information and accounting considerations during the COVID-19 pandemic

Authors

Maria Markova, University of National and World Economy, Sofia, Republic of BulgariaFollow
Georgi Hristov, University of National and World Economy, Sofia, Republic of BulgariaFollow

Keywords

quality of financial information, financial reporting, financial statements, judgements and estimates, going concern, uncertainty, COVID-19

Abstract

The COVID-19 pandemic has posed numerous difficulties before business entities and thus before accounting professionals. The paper summarizes the main issues financial reporting faces during the pandemic with respect to the quality of the financial information provided by the financial statements of the entities. The main quality characteristics of useful financial information are brought to light in the context of the impediments posed by the COVID-19 crisis. Different aspects of financial reporting are discussed: the implications on the going concern principle; the effects on accounting judgements and estimates; events after the reporting period. The paper provides real-life examples for the worsened quality of the financial information caused by the COVID-19 pandemic.

DOI

10.33107/ijbte.2021.6.3.04

First Page

1

Last Page

8

Recommended Citation

Markova, Maria and Hristov, Georgi (2021) "Quality of financial information and accounting considerations during the COVID-19 pandemic," International Journal of Business and Technology: Vol. 9: Iss. 1, Article 4.
DOI: 10.33107/ijbte.2021.6.3.04
Available at: https://knowledgecenter.ubt-uni.net/ijbte/vol9/iss1/4