David Leone Ganado

Government – national, local, or beyond one’s shores, such as the EU through various schemes – often grant certain incentives to businesses, particularly when there is a strategy to promote or to provide some form of assistance to one of more specific sectors.

COVID-19 impacted us all, with the hospitality sector arguably being impacted more than any other. One aspect of the pandemic which did not make the headlines is the accounting implications for entities that are required to prepare statutory financial statements. Those implications are many, and we will focus on two of them in this article.