COVID-19 pandemic has significantly affected many industries and companies as well as major economies: Financial Accounting and Reporting Assignment, USM, Malaysia

University Universiti Sains Malaysia (USM)
Subject Financial Accounting and Reporting

The COVID-19 pandemic has significantly affected many industries and companies as well as major economies. The unprecedented pandemic and its developments have resulted in significant uncertainties which resulted in a significant challenge to accountants and financial reporting.

Accountants and accounting firms are forced to innovate and evolve to ensure business continuity in the new normal. Financial statements should properly capture and reflect the latest financial status of the companies.

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