Russia-Ukraine War

 

Accounting and financial reporting considerations

 

Russia’s recent invasion of Ukraine and the ensuing economic sanctions have introduced volatility into the global economy on top of the humanitarian tragedy unfolding. Companies with operations, suppliers, or customers in Russia or Ukraine will clearly be impacted by this conflict. What’s more, many companies may be indirectly affected, especially in the global energy, agricultural, and capital markets, among others.


NDS 2022-01 summarizes certain accounting and financial reporting considerations under U.S. GAAP that could apply for companies impacted by the Russia-Ukraine war, including estimates and subsequent events; asset impairment; foreign currency; consolidation and equity method of accounting; fair value measurement; impairment of financial assets; hedging; leases; loan restructurings; unusual items; exit or disposal activities; insurance recoveries; revenue recognition; and disclosures.

 

 

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