After a long corona pandemic period we recommend company leadership to make an assessment if the company is able to continue its operations. This is needed to make clear when submitting the annual statement for 2020.
Important points to think about the company`s possibility to survive in the future could be:
-Balance sheet value of fixed capital and working capital
-Short-term and long-term liabilities
-Loss of labour and loss of receivables
-Ability to pay for the short and long term loans and the possibility to ask for more time
The board and management are responsible for assessing whether there is possibility to continue operations of the business. This must be presented in the annual statement for 2020