Coronavirus: Recent developments in financial reporting considerations

By |2020-11-12T15:05:05-05:00August 12th, 2020|RSM, A&A|


Authored by RSM US LLP

We have updated our white paper, Coronavirus: Financial reporting considerations, to address the following recent developments:

  • Relief requested by the International Swaps and Derivatives Association for the accounting treatment for ongoing cash flow hedges in which the hedged forecasted transactions are interest payments that are expected to be delayed beyond the period specified in the hedge documentation due to the coronavirus pandemic.
  • The views of the Securities and Exchange Commission staff in the Division of Corporation Finance regarding disclosures about operations, liquidity and capital resources that SEC registrants should consider with respect to the business and market disruptions related to COVID-19.
  • Activities undertaken and resources provided by the Governmental Accounting Standards Board to alleviate the financial reporting issues encountered by state and local governments during the coronavirus pandemic.

For these and many other topics entities should consider when preparing financial statements affected by the coronavirus pandemic, see our white paper, Coronavirus: Financial reporting considerations.

The financial reporting considerations related to the coronavirus pandemic are continuing to evolve. This white paper will continue to be updated periodically as developments warrant. For additional resources related to the coronavirus pandemic, visit our Coronavirus Resource Center.

Do you have questions or want to talk?

Call us at (800) 232-9547 or fill out the form below and we'll contact you to discuss your specific situation.

  • Topic Name:
  • Should be Empty:

This article was written by RSM US LLP and originally appeared on 2020-07-14.
2020 RSM US LLP. All rights reserved.

RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each are separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit for more information regarding RSM US LLP and RSM International. The RSM(tm) brandmark is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.


Insero & Co. CPAs, LLP is a proud member of RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.

Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise, and technical resources.

For more information on how Insero & Co. CPAs can assist you, please call (800) 232-9547.