Financial Effects by Covid-19

Derived from the conjuncture due to the coronavirus disease (COVID-19), which was announced in past months and which we are currently going through in the country, there have been various effects in different fields, one of them is given significantly in the information determined and presented accounting and fiscally in the financial statements for the year 2020, since most of the companies are suffering from economic liquidity. Some of the factors you may present for these results are:

1.- Lack of liquidity, and consequently the increase of bad accounts.

2.- Indebtedness in credits, to cover expenses.

3.- Losses due to exchange rate increase.

4.- Low inventory value.

5.- Lack of production.

6.- Deterioration in fixed and intangible assets of long duration.

7.- Interest due to lack of economic solvency.

As mentioned above, it is important for companies to consider all the factors involved in determining the financial statements for the year 2020, since the impact that is being suffered with the COVID-19 coronavirus conjuncture will be extremely significant.

That is why we invite you to approach Bandala | Díaz | García to be able to clarify all the doubts you have regarding the possible affectations of your company, and to make an analysis and projection of financial statements 2020, We also invite you to know our social networks where you can keep informed with relevant news that can be of help.