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On 13th March 2020, ESCP Business School’s London Campus temporarily closed its doors due to the COVID-19 crisis.
What is the impact of the COVID-19 crisis (if any) on companies’ financial statements? Should it be recorded on the Financial Statements of 2019 (that are going to be prepared and approved in the first half of 2020) or only in the 2020? What is the impact on the evaluation of a company’s assets, liabilities, inventories, etc.?
Co-written by Bianca Bosatra & Dana Bennani
The COVID-19 outbreak has drastically affected the fashion and beauty industries on a global scale: both have shown declining growth rates. Among the many factors that have negatively impacted these sectors are the closing of numerous production units and stores, travel restrictions, and the furlough of up to 80% of the workforce.
By Valerie Alia
As a person who is constantly eager to evolve, some of my greatest passions are my job and professional life.