Accounting for contract modifications in a COVID-19 environment

Sean Prince

Many businesses are facing challenges as a result of the COVID-19 pandemic, with reduced revenues, liquidity challenges, or supply chain management issues. In this environment, contract modifications – be it with a lender, landlord, supplier, employee, or customer – may become more common. 

Before acting, make sure you understand the financial reporting and disclosure implications of executing contract modifications. 

Watch this webinar recording for a focused discussion on the financial reporting implications of modifications to loan contracts, lease arrangements, employee agreements, customer contracts, and more.