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COVID-19 Pandemic: Suggested Solutions from Accounting, Financial and Organizational Perspectives

Journal: International Journal of Science and Research (IJSR) (Vol.9, No. 6)

Publication Date:

Authors : ; ;

Page : 1762-1771

Keywords : COVID-19 pandemic; accounting in crisis; disclosure; provisions; social character; integrated reporting; accounting standards and organizational recommendations;

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Although the COVID-19 crisis is still ongoing, there has been a tremendous effort to research and analyze its causes and impacts. This paper after provide a cohesive review of the major findings in the literature concerning the role of accounting and strategy in crisis' condition; seeks to provides suggested solutions towards our current pandemic from the financial, organizational and strategically perspectives. From accounting and financial perspective, we recommend increasing and improving the level of disclosure, create new provision for pandemic and crisis, giving more focus on the integrated reporting, adopting the social character for business to rebuild the trust with market and issued a new accounting standard for pandemic settings. Our recommendation for business from strategic and organizational perspective is focus on strategic plans; invent original product ideas, vision for markets, building warehouses, targeted financing plans and building a global information system for crises and pandemics. While the previous literatures and even updated studies focus on the consequences of COVID-19 pandemic, our paper provides contributions through recommend different mechanisms and tools from different perspectives to interact with this current pandemic. Consequently, as far as we know, this paper is one of the updated researches that suggested solutions for the current pandemic.

Last modified: 2021-06-28 17:08:00