Have you been pondering about the U.S. GAAP financial accounting and reporting implications of the Greek bailout?
Yea, me too.
Well, ponder no longer because PWC has prepared a short accounting alert, which is a part of their “In the Loop” series, summarizing some of the important accounting and financial reporting considerations associated with Greece’s bailout situation.
The 2-page alert addresses several key issues, including:
- Impairment of investments in Greece’s debt
- Collectibility of receivables from customers located in Greece.
- Revenue recognition for local Greek sales transactions, where sales are on account.
- Related financial reporting disclosure issues, including MD&A disclosures.
PWC’s “In the Loop” article is titled, Greece’s bailout – Financial reporting considerations. To obtain, click on the title above or download the article from the PWC CFOdirect Network at http://www.pwc.com/us/en/cfodirect/publications/in-the-loop/greece-bailout-package-reporting-implications.jhtml?display=/us/en/cfodirect/issues/foreign-currency.