Impact of COVID-19 on Financial Reporting Valuations

Episode Duration:
60 minutes.

Episode Background:

During the first quarter of 2020, the economic decline caused by the COVID-19 pandemic has raised many questions about the fair value of a variety of assets held in a broad range of industries and companies. In the light of these unprecedented times, factoring that the closing date for books of accounts is March 31, 2020, one pertinent question hovering over the management is that of the annual goodwill and other assets impairment exercise.

Against this backdrop, Taxsutra in association with KNAV, is pleased to present to you a special episode on “Impact of COVID-19 on Financial Reporting Valuations”.

What will the episode cover?

This episode is led by Mr. Atul Deshmukh (Partner-Assurance, KNAV), International Valuation Stalwart Mr. Mark Zyla (Partner - Zyla Valuation Advisors, LLC) and Mr. Rajesh C Khairajani (Partner-Valuations, KNAV) [notably, the domain expertise of the speakers range from valuations, assurance and accounting advisory in India, USA, Singapore, and Canada]. The speakers have imparted technical guidance and offered practical advice on how multi-locational businesses should plan and approach their year-end impairment and financial reporting exercise during these uncertain times. 

The episode covers the following:

• Triggering events for impairment testing
• Long lived asset and the indefinite life asset impairment model
• Preparing for impairment testing process in light of the COVID-19 pandemic – Auditors and Appraisers viewpoint
• Impact on business and tips for budgeting and forecasting the uncertainty
• Scenario analysis – Practical or more Uncertainty
• Discount rate alpha or adjustments to the cash flows or both
• Perspective on market multiples during a black swan event

Who is this episode for?

This episode is intended for finance and accounting personnel of Corporations operating in India and North America.