In recent weeks one topic has been dominating the papers, coronavirus (Covid-19), and perhaps it is inevitable that it is also starting to have impacts on financial reporting.

From an accounting perspective it has raised an interesting challenge as to the question of adjusting and non-adjusting post-balance sheet events. The considerations though are much wider and growing as I write.

In late February the Financial Reporting Council (FRC) put out guidance for preparers. The principal focus at this stage was on disclosure.