Several Accounting implications of Corona Virus (Covid 19) cited is based IAS 37 Provisions, contingent liabilities and contingent assets . For December 31 2019 and up to 28 February 2020 entities, most of these were/was non adjusting event as no impairment calculations or expected credit loss estimates should have been factored. However, full impact is expected in accounts of entities with end year dates after March 2020 as the impact of Covid may have happened over the transactions and balances. Many companies decided to cancel or reduce didvidends from the pre Covid period 2019 and before, of course providing all kinds of reasons. Could there have been better arguments to convince companies to wait till after February 2020 when Covid impact would be prevalent in the transactions and balances, then adjust dividends appropriately.?
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