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SEC Flags Liquidity, Impairment Reporting for 4th Quarter

Nov. 5, 2020, 8:58 PM

U.S. companies should be prepared to flag possible future impairment charges and detail changes to their cash management when they draft year-end financial statements, an SEC official said Thursday.

  • Lindsay McCord, chief accountant for the Division of Corporation Finance, encouraged preparers to take a fresh look at pandemic disclosure guidance the Securities and Exchange Commission issued in March and June. The questions and suggestions there remain relevant for year-end reporting, she said in remarks to an annual securities conference hosted by the Practising Law Institute.
  • Companies should discuss their short- and long-term liquidity outlook—including changes to interest ...

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