Unusual and infrequent times: What are the implications of Covid-19 on your financial statements?

Pardon me if I’m taking too much liberty here, but I think I can say for the masses that if we never hear the words “pandemic,” “unprecedented times,” or “new normal” again, it will be too soon. As an accountant, I propose that we switch phrases – let’s call these “unusual and infrequent times.”

As the months of 2020 roll past us, it will soon be time to work with our clients related to the results of operations for fiscal year 2020. Aside from the challenging business environment…