IMPACT OF CORONAVIRUS IN PREPARATION OF CORPORATE ACCOUNTS AND THE ROLE OF CMAs
The Management Accountant|May 2020
The impact of the pandemic Covid-19 on the world economy, financial markets and business operation of the companies in both manufacturing and service sectors are phenomenal all over the globe. Nobody knows when this devastation will be over. With the deaths of millions of people all around the world caused by this deadly virus all nations including India will have to seriously reassess and reallocate the budgetary resources for medical, public healthcare, R & D and social security which has been neglected so far. This Article has made an attempt to highlight some of the areas where there is a need for reassessment, revaluation and modification to be made by the CMAs in preparing Annual Accounts for the year 2019-20 as also the role of Cost Auditors in this regard.
CMA (Dr.) Subhash Chandra Das
IMPACT OF CORONAVIRUS IN PREPARATION OF CORPORATE ACCOUNTS AND THE ROLE OF CMAs

Introduction

The Coronavirus (Covid-19) has created havoc in the entire world. The devastating effect of this virus has already claimed deaths of millions of people in almost all countries. This unknown contaminated disease originated from China has been so dangerous that no countries in the world were prepared medically to combat it, especially the developed nations like United States of America, whole of Europe in which several thousand people were died by its devastating effect. India is also no exception although the full impact of this disease has yet to come. All countries including India are under lockdown and are maintaining Social Distance to stall the spread of this deadly disease.

This story is from the May 2020 edition of The Management Accountant.

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This story is from the May 2020 edition of The Management Accountant.

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