Why is it important to disclose adverse impact covid has had

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Reference no: EM133647615

Homework: Covid

Objective

This homework aims to enhance understanding of the challenges faced by businesses during crises like the COVID-19 pandemic, using Starbucks Corporation as a case study. Students will analyze the company's annual report, focusing on the importance of transparent financial disclosures during adverse times. This task will improve their ability to interpret complex business documents, articulate insights in written form, and apply this knowledge to make strategic decisions. It also highlights the role of ethical and effective communication in business, especially in adapting to and managing change during uncertain times.

Background

Many companies have been affected during the COVID-19 global pandemic. In particular, Starbucks Corporation (NASDAQ: SBUX) noted in its annual report, "Our financial results have been and could continue to be adversely affected by the impact of the COVID-19 pandemic, which has resulted in a disruption of customer routines, changes to employer "work-from-home" policies, reduced business and recreational travel, and changes in consumer behavior."

Task

Suppose you are the chief financial officer (CFO) responsible for the financial statements of Starbucks Corporation. Why is it important to disclose the adverse impact COVID-19 has had on Starbucks Corporation's business and financial results? What would you do?

Reference no: EM133647615

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