The coronavirus (COVID-19) pandemic is causing enormous consequences across the globe, and we know many not-for-profits (NFPs) are experiencing uncertainty and concern for what’s next. Among the many effects of COVID-19, entities may face accounting and financial reporting challenges. This article provides nonauthoritative, illustrative examples to help you as you prepare COVID-19-related financial statement disclosures for your NFP or NFP clients.
COVID-19 financial statement impacts
The following sample disclosures apply to NFPs that wish to disclose the effects of the