Keywords : COVID-19


The role of fiscal stimulus packages in addressing economic conditions during the Covid-19 pandemic

Mohammed D. Mohammed

TANMIYAT AL-RAFIDAIN, 2021, Volume 40, Issue 132, Pages 344-362
DOI: 10.33899/tanra.2021.131633.1144

This research aims to analyze the role of financial stimulus packages in influencing economic conditions during the COVID-19 pandemic, through some financial policies taken by the research sample countries to address the economic conditions in light of the COVID-19 pandemic. The research included all countries within the classifications of the International Monetary Fund into three groups classified according to their financial and economic capabilities for the year 2020. The multi-sectional regression model was used to measure the effect of the explanatory variables that represent financial stimulus packages (the volume of grants and subsidies, the volume of public spending, the volume of public debt excluding health spending, the volume of lost revenues) as percentages of GDP on the approved variables represented by the expressive poverty and unemployment rate. On the economic conditions, and through what the analysis showed from the acceptance of the research hypotheses that stipulate the significance of the relationship, whether it was negative or positive between the interpreted and approved variables, as the interpreted variables varied in their impact on the approved variables, and the main results of the research indicated that the financial stimulus packages had an impact Positive in the variables of economic conditions in light of the COVID-19 pandemic in some countries of the research sample in the opposite of other countries, depending on the financial and economic capabilities of countries.

The Challenges Facing The Accounting Profession Under The Coronavirus Pandemic (COVID-19)

Taha A. H. Ardiny

TANMIYAT AL-RAFIDAIN, 2020, Volume 39, Issue 128, Pages 196-219
DOI: 10.33899/tanra.2020.167375

The research highlights the challenges facing accountants and professional regulators when dealing with the impact of the virus (COVID-19) pandemic on the elements of the financial statements of economic units, and on the results of their operations and their financial position in the year ending 12/31/2019 and beyond, as well as the extent of the need to amend international financial reporting standards as a result of the crisis of the COVID-19 pandemic, as it happens every time when Global financial crisis it occurs.
The research reviewed the published data and reports on international and local professional organizations interested in accounting, such as IFRS, IOSCO, IPSASB, GAAP US, ESMA, AASB − AUASB, as well as the Iraqi Auditing Profession Council, and stating the position of these organizations on the COVID-19 pandemic.
The researcher reached a set of results, the most important of which is that there are a set of challenges that are most influencing the financial statements for the period ending on 12/31/2020, which require accountants and professional organizers with accounting treatments and special disclosures as a result of the uncertainty caused by the virus (COVID-19)  pandemic, including the book value For non-financial and intangible assets, including goodwill, as well as cash flow difficulties, credit losses, and disclosures related to the imposition of continuity and the accompanying disclosures. Despite these challenges, there is a consensus on the part of international accounting professional bodies and organizations confirming the ability of standards to address these effects and that there is no need to amend, change, delete or add to the requirements of the standards, especially International Financial Reporting Standard No. (9) “Financial Instruments. ".