During the spring semester graduating MAcc students complete the MAcc Capstone class, Accounting Research, Regulations & Ethics. This year, they found themselves in the midst of not only a global pandemic but also a flurry of legislative and financial reporting implications of the COVID crises. The timing was incredible. Large US public companies must file their annual Form 10-K with the US Securities and Exchange Commission within 60 days of the fiscal year end; December 31, 2019 Form 10-Ks needed to be filed by the end of February. Many were filed earlier in that month. The COVID-19 crisis reached the US mid-March and there was much speculation that the numbers that appeared in the financial statements and note disclosures could be overstated as a result of the financial fallout of the disease.
Each MAcc student researched a different company to determine how the virus may impact the financial results going forward. Four of the student presentation are included here for your review. The supporting memos and presentations took place before the first quarterly reports on Form 10-Q were filed with the SEC. If you want to check how close the students came, you can find the Form 10-Qs at sec.gov.