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Coronavirus update Provided by RSM
Friday, April 24, 2020
Company: RSM US LLP
Coronavirus update
Friday, April 24, 2020
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Key insights about the coronavirus impact and relief for the middle market
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New and trending
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House approves $484 billion to replenish coronavirus bill
On Thursday, the U.S. House of Representatives passed a $484 billion aid package to provide relief for small businesses, hospitals and coronavirus testing efforts. Read more.
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Recorded webcast: The new “normal” of financial close
Listen to our recent webcast on how businesses can navigate the “new normal” of financial close during the pandemic. Watch now.
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Liquidity
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Key C-suite considerations for crisis cash management
While many companies can withstand a short-term disruption in cash, a general slowdown in the velocity of cash transfers throughout the economy can create significant liquidity risk. Read more.
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Using cash dashboards and projections to handle COVID-19
Senior executives will need to increase their direct involvement in liquidity management, visibility into the sources and uses of cash, and control over cash on hand. Read more.
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Risk and uncertainty
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Recorded webcast: Business interruption and associated claims
Hear perspective on loss recovery when businesses are unexpectedly affected by forces out of your control. Watch now.
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Financial reporting, policy and legislation
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Regulated investment companies face challenges during COVID-19 crisis
Although the Securities and Exchange Commission has provided some relief to regulated investment companies in the wake of the coronavirus pandemic, the Internal Revenue Service has yet to do so. Read more.
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Proposed deferral for certain entities: ASC 606 and ASC 842
Due to the coronavirus pandemic, the Financial Accounting Standards Board (FASB) recently issued a proposed Accounting Standards Update (ASU) that would grant a one-year effective date delay for certain entities. Read more.
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Workforce dynamics
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Getting back to work involves more than just unlocking the doors
The new normal isn’t just about masks and temperature checks, but making employees and customers maintain their distance and feel at ease. Read more.
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Virtual internships are here: Know the state tax consequences
Using virtual interns presents several state and local tax issues. Read more.
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Upcoming webcast
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Coronavirus webcast series—2020
Our next webcast on April 29 will focus on how health care organizations can address challenges, continue to adapt to this “new normal” and anticipate what is needed to be financially sustainable in the future. During this webcast, RSM professionals will discuss how health care organizations can:
- Optimize emergency fund disbursements (near term)
- Find and invest in partners that can help hospitals and health systems recover (midterm)
- Evaluate and refine telehealth strategies that will continue to be beneficial after the pandemic (long term)
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See all coronavirus insights.
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