Effects of COVID-19 in the Financial Statements for a Year of Global Pandemic – Evidence from Bulgaria

Kameliya Savova

Economic Studies journal, 2022, issue 3, 111-129

Abstract: An important purpose of the financial statements is to communicate between the stakeholders and the reporting entity. Performing such a function in a year of global instability is a challenge to provide reliable information on the effects of COVID-19. The objective of the research is to assess on the basis of information in the financial statements for the year 2020 the impact of the Coronavirus pandemic on the liquidity, the revenue and the financial results of industrial enterprises listed on the Bulgarian Stock Exchange and their expected performance. The research methodology is based on studying the effects of COVID-19 on the economic activity, an analysis of their manifestation in the activities of industrial enterprises, listed on the Bulgarian Stock Exchange, based on their published financial statements for the year 2020, summarising, comparing and graphically illustrating the results for two reporting periods, a study of the management’s assessment of the potential risks and the development of the individual enterprises next year. The results and the conclusions of the study are: COVID-19 has a different impact on the revenue, liquidity, profits and losses of the enterprises in the extract; the usual dependencies in the dynamics of the studied sites are violated, the principle “going concern” is followed.

JEL-codes: M40 M41 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2022:i:3:p:111-129

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