Impact of the COVID-19 pandemic on the preparation of financial statements (COVID-19 პანდემიის გავლენა ფინანსური ანგარიშგების მომზადებაზე)

dc.contributor.authorSabauri (საბაური), Levan (ლევან)
dc.contributor.authorKvatashidze (კვატაშიძე), Nadejda (ნადეჟდა)
dc.date.accessioned2022-04-18T11:38:42Z
dc.date.available2022-04-18T11:38:42Z
dc.date.issued2022
dc.description1. Accounting Standards Committee & Auditing Standards Committee. Technical Circular [Report]. - 2021. 2. IASB https://saras.gov.ge/ka/Ifrs/Pdf/515 [Online] // https://saras.gov.ge/ka/Ifrs/Pdf/515. - January 3, 2022. 3. IASB https://saras.gov.ge/ka/Ifrs/Pdf/517 [Online] // https://saras.gov.ge/ka/Ifrs/Pdf/517. - January 2, 2022. 4. IASB https://saras.gov.ge/ka/Ifrs/Pdf/523 [Online] // https://saras.gov.ge/ka/Ifrs/Pdf/523. - saras.gov.ge. 5. KPMG COVID-19 [Online] // COVID-19. - KPMG. - January 4, 2022. 6. Leo van der Tas ey.com [Online] // https://www.ey.com/en_gl/assurance/five-financial-reporting-issues-to-consider-as-aconsequence-of-covid-19. - Janury 15, 2022. - January 15, 2022 7. Levan Sabauri Impacts of COVID-19 on the Financial Reporting and Audit [Journal] // Economics and Business. - Tbilisi : Tbilisi State University, 2021. - Vol. 2. 8. Oliver Köster https://www2.deloitte.com/ch/en/pages/audit/articles/financial-reporting-survey-q1-2020.html [Online] // How COVID-19 infects financial reporting and results presentations. - 2020. - January 15, 2022. 9. Thornton Grant https://www.fbk.ru/upload/presscenter/FBK%20Grant%20Thornton_%D0%92%D0%BB%D0%B8%D1%8F%D0%BD%D0%B8%D0%B5%20COVID_17.1 2.2020.pdf [Online] // https://www.fbk.ru/upload/presscenter/FBK%20Grant%20Thornton_%D0%92%D0%BB%D0%B8%D1%8F%D0%BD%D0%B8%D0%B5%20COVID_17.1 2.2020.pdf. - Grant Thornton.en_US
dc.description.abstract1. The unpredictability of the pandemic impact generates fundamental uncertainties. It casts doubt on the ongoing operation of the enterprises. If the functionality assumptions are made during the financial reporting, the enterprise is obliged to declare all the uncertainty factors. Applied reasonings, conclusions, and compulsory volume for the information declaration are dependent on the specific situation, as its nature and impact level on the enterprise, differ in every single case. 2. The limited paying capacity of the customers impacts the contractual relationships. In many cases, it becomes necessary to amend the contracts – modify the contract costings. It is of utmost consideration to assess the payment probability while amending the contract under uncertainty. It should be discussed as the changing component of the payment. 3. In IFRS 16, the changes caused by pandemics, are important for the lessee’s. The board considers the registration of the tenancy modification to be an easy task, accordingly, these changes do not include the lessees. They should assess, as usual, if the rental exemption is actually a contract amendment, and process it accordingly.en_US
dc.identifier.citationInternational Scientific Conference Dedicated to the Establishment of the University and the 100th Anniversary of the Faculty of Economics and Business “Covid 19 Pandemic and Economics”, Tbilisi, 2022, pp. 276-284en_US
dc.identifier.isbn978-9941-491-70-2
dc.identifier.urihttps://dspace.tsu.ge/handle/123456789/1436
dc.language.isogeen_US
dc.publisherIvane Javakhishvili Tbilisi State University Pressen_US
dc.subjectamendment in the contract; going concern; pandemic and financial statementen_US
dc.titleImpact of the COVID-19 pandemic on the preparation of financial statements (COVID-19 პანდემიის გავლენა ფინანსური ანგარიშგების მომზადებაზე)en_US
dc.typeArticleen_US
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