Accounting for Coronavirus: IFRS

by Wayne Bartlett
access120 days access
cpd hours4 CPD hours

This course will enable you to:

  • Understand the financial reporting implications of the COVID-19 pandemic
  • Provide for appropriate adjustments and impairments for non-financial assets
  • Understand the implications for revenue recognition of contract fulfilment and payment difficulties
  • Set up appropriate provisions and contingencies and account for employee benefits and termination payments
  • Make appropriate provisions for the late or non-payment of debt and revaluation of financial assets
  • Understand the repercussions of other key issues including going concern, post balance sheet events and deferred tax assets

The COVID-19 pandemic has had a devastating global impact. Its profound public health, societal and economic repercussions are likely to be with us for some time to come. But what are the financial reporting implications of the crisis?

Looking in turn at non-financial assets, revenues and grants, provisions and employee benefits, financial instruments and other issues including the crucial concept of going concern, this course outlines the issues in reporting on companiesí performance during and after the pandemic.

Non-financial assets

  • The financial effects of COVID-19
  • Tangible assets
  • Tangibles and COVID-19
  • Up in the air
  • Intangible assets
  • Intangibles and COVID-19
  • GlaxoSmithKline
  • Investment property and COVID-19
  • Property market matters
  • Inventories
  • Inventories and COVID-19
  • ExxonMobil
  • Taking stock
  • Non-financial assets and you


  • Revenue from contracts with customers
  • Revenue from contracts and COVID-19
  • Government grants and assistance
  • Grants, assistance and COVID-19
  • Grappling with grants
  • Not to be taken for granted
  • Revenue review

Provisions and employee benefits

  • Provisions, contingent assets and contingent liabilities
  • Provisions and contingencies, and COVID-19
  • Counting the cost
  • Force majeure
  • Employee benefits
  • Employee benefits and COVID-19
  • Debenhams
  • Asset or liability?

Financial instruments and other areas

  • Financial instruments
  • Financial instruments and COVID-19
  • Risky business
  • At a loss
  • Other issues and COVID-19
  • Striking the right chord

Dr Wayne Bartlett specialises in public sector financial management and budgeting and has worked as a consultant and lecturer throughout the world. After 7 years in the NHS in the UK, he joined the Home Office as Head of Accountancy Advice. He has worked closely with a number of Supreme Audit Institutions and has become an expert of the implementation of international accounting standards.

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ACCA partner with to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.

Verifiable CPD
Your course counts as verifiable CPD, if you can answer "yes" to these questions:

  1. Was the learning activity relevant to your career?
  2. Can you explain how you will apply the learning in the workplace?

You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.