We offer accounting services to help organizations in the transportation and other sectors establish reserves under Financial Accounting Standard Board, Accounting Standard No. 5 (FASB 5) to address the future probable cost of increased healthcare expenditures arising from oxygen deficient workplaces where oxygen intake is reduced below the minimum 19.5% standard established by OSHA, especially for females of child bearing age born between 1976 and 2002.
Oxygen in the air and environment is 20.95% or 21%.
GESTATION IMPACT ASSESSMENT
We have developed potential gestation impact analysis that provides reasonable estimates for what some of the cost impacts might be for pregnant mothers working in oxygen deficient workplaces and social environments that can be adapted to the needs of your organization to make proper provision for probable loss arising from a situation for which the outcome is uncertain, and which would be resolved in the future, possibly creating a loss for organizations in the transportation sector. If its not possible to arrive at reasonable estimate or determine if the loss is probable for fiscal years ending December 31, 2020 and December 31, 2021, at a minimum, generally accepted accounting principles (GAAP) require disclosure in the financial statements.
ACCOUNTING FOR CONTINGENCIES
Coronavirus Liability Fears Hindering Businesses
To avoid overstating 2020 and 2021 financial statements with respect to future cost outlays, appropriate and timely accounting reserves are needed for increased healthcare costs due to respiratory, heart, brain, lungs and prenatal child development issues arising during or after pregnancy due to less than sufficient oxygen in the workplace and supporting work environment, especially for babies born after December 15, 2020 throughout 2021, and perhaps beyond (COVID-Babes Impact Assessment: December 2020 to 2038-2040).
Corona Babies: Low Oxygen Gestation: Coronavirus Unleashed: Revealing the Future
For more information:
Edward A. Shields, CPA, MBA
Former World Bank Accounting Policy Advisor, International Finance Corporation Accounting Policy Advisor & Investment Officer & PwC audit staff, Columbia University, Brooklyn College & UCLA alum
Chief Executive Officer
450 Lexington Avenue, #1248
New York, NY 10163