Business disruptions related to the coronavirus have already dinged earnings at some companies and made the likes of Apple Inc., Paypal Inc., and Microsoft Corp. warn investors of likely revenue estimate misses.
As the virus spreads around the globe, its impact will roll throughout company financial statements—from the risk analysis to the footnotes to coming up with the top lines of income statements.
“I would have to say historically on a global scale, this is probably the most challenging time that global companies have had in the area of accounting and taxation,” said Thomas Cooke, a professor at the McDonough ...