Second-quarter reporting is when most companies will have to deal with the significant impacts of the coronavirus on their current financial reporting and the uncertainty about its future effects. The pandemic has resulted in conditions that frequently occur during economic downturns, including closures, layoffs, reduced demand, and liquidity issues.
But it has also caused unusual changes, including how and where employees work, financial market volatility, customers’ social distancing, and government intervention. Now is the time to consider how to reflect these items in the reporting of non-GAAP measures.
