{"id":1753,"date":"2020-08-17T18:11:48","date_gmt":"2020-08-17T23:11:48","guid":{"rendered":"http:\/\/www.nw-cpa.com\/?p=1753"},"modified":"2020-07-07T19:55:50","modified_gmt":"2020-07-08T00:55:50","slug":"business-tax-season-during-covid","status":"publish","type":"post","link":"https:\/\/www.nw-cpa.com\/?p=1753","title":{"rendered":"Business Tax Season During COVID"},"content":{"rendered":"

Thank you to the CPA Journal and Howard B. Levy, CPA for this detailed and helpful article\u00a0about financial reporting, taxes, auditing and more for businesses as we approach our first tax season amidst COVID. The topics addressed include:<\/p>\n

Use of estimates
\nRisk assessment.
\nSubsequent Events
\nInternal Control
\nAccessibility to Audit Evidence and Client Personnel
\nDisclosure of Risks and Uncertainties
\nAccounting Estimates
\nValuation of receivables, inventories, investment securities, and deferred tax assets.
\nImpairment of goodwill, other intangibles, or long-lived assets.
\nLoss contingency accruals and disclosures.
\nBusiness interruption insurance recoveries.
\nFuture operating losses.
\nCARES Act
\nTax effects.
\nGovernment loans and other benefits.
\nRelief for financial institutions from certain GAAP provisions.
\nRevenue Recognition
\nLeases and Other Contract Modifications
\nDebt Covenant Compliance
\nInventory Observations
\nEOM, Explanatory, and CAM\/KAM Paragraphs
\nMD&A and Other Disclosures for Public Companies and Governments<\/p>\n

Financial Reporting and Auditing Implications of the COVID-19 Pandemic<\/a><\/h1>\n

Some Practical Guidance<\/h2>\n

<\/h3>\n

\n","protected":false},"excerpt":{"rendered":"

Thank you to the CPA Journal and Howard B. Levy, CPA for this detailed and helpful article\u00a0about financial reporting, taxes, auditing and more for businesses as we approach our first tax season amidst COVID. The topics addressed include: Use of estimates Risk assessment. Subsequent Events Internal Control Accessibility to Audit Evidence and Client Personnel Disclosure … Continue reading Business Tax Season During COVID<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46,4],"tags":[1370,1365,1367,1336,363,1372,1368,1371,1366,1369],"class_list":["post-1753","post","type-post","status-publish","format-standard","hentry","category-business-model","category-financial-accounting","tag-accruals","tag-business-tax-season","tag-cares-act","tag-covid","tag-debt","tag-future-operating-losses","tag-leases","tag-risk-assessment","tag-taxes-and-covid","tag-valuation"],"_links":{"self":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/1753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1753"}],"version-history":[{"count":1,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/1753\/revisions"}],"predecessor-version":[{"id":1754,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/1753\/revisions\/1754"}],"wp:attachment":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}