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Accounting and Financial Reporting During a Pandemic

New Challenges for Future Sustainability and Wellbeing

ISBN: 978-1-80043-969-6, eISBN: 978-1-80043-968-9

Publication date: 21 May 2021


Purpose: This chapter discusses how pandemics affect the nature of financial reporting especially for financial and non-financial institutions that were deeply affected by the 2020 coronavirus (COVID-19) outbreak.

Method: This chapter presents a reflective discussion of the accounting practices and financial reporting options for firms during a pandemic, ­focusing on the interface between financial reporting and pandemics.

Findings: Accounting practices or techniques such as fair value accounting, big-bath accounting, loss avoidance, and income smoothing t­echniques can help to dampen the effect of a pandemic on firm performance.

Practical Implications and Significance: Some implications about the merits and risks of accounting during pandemics are highlighted and discussed.

Originality: Although the coronavirus COVID-19 crisis is, to some extent, still unfolding, there is limited empirical evidence on the implication for accounting.



Ozili, P.K. (2021), "Accounting and Financial Reporting During a Pandemic", Özen, E., Grima, S. and Gonzi, R.D. (Ed.) New Challenges for Future Sustainability and Wellbeing (Emerald Studies in Finance, Insurance, and Risk Management), Emerald Publishing Limited, Leeds, pp. 87-93.



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