International disclosure practices in reporting under COVID 19

Introduction. The outbreak of COVID-19 has forced every country to impose strict measures to curb the spread of the virus, most countries have closed their borders, imposed restrictions on business, cut off transport, and these circumstances are extremely important for disclosure in financial statements, and complicate the process its compilation. Thus, these challenges and current conditions contribute to the importance of providing high quality information, as users of financial statements need timely, high quality and complete information, which is compiled through the prism of COVID-19 impact on the company, its financial condition, liquidity and future prospects. Purpose. Generalization of international disclosure practices in financial statements under COVID-19 and recommendations for resolving problems arising from the pandemic and affecting the reporting of economic entities. Results. Summarizing the recommendations provided in Australia and Belgium professional organizationsac, companies are required to disclose material uncertainties related to COVID-19 in their financial statements, including assessing the impact of the pandemic on the enterprise, identifying countermeasures taken and showing the impact on the Company's future operations. For goodwill impairment tests and other vulnerable items, the disclosure of material assumptions should be provided in sufficient detail, together with a description of the approach to determining the value assigned to each key assumption. These include assumptions about the duration and intensity of the effects of the cessation of operations and the recovery phase. The entity will also need to explain the significant impact of COVID-19 on the risks associated with the financial instruments and how it manages those risks. Conclusions. Having determined that the pandemic has a significant impact on the financial performance of companies around the world, we conclude that the burden of using the best, most accurate, truthful and accessible information in making sound and validated judgments and estimates that take into account the effects of the COVID-19 pandemic.

Effects of material uncertainties on vibration performance of cross laminated timber floors

Variety of wood species and complexity of their structure make the reliable material properties of cross-laminated timber (CLT) difficult to obtain, which can lead to inaccurate prediction of CLT behavior. Due to high stiffness-to-weight ratio, CLT floors can suffer from vibration serviceability issues. This paper aims to quantify the uncertainties induced by material properties and investigate their effect on vibration performance of CLT floors. Analysis based on Monte Carlo simulations, considering material properties as random variables, is developed. Based on the conducted analysis, appropriate conclusions have been derived.

EVALUATION OF CRITICAL EXPERIMENTS IN THE UNIVERSITY OF WISCONSIN NUCLEAR REACTOR (UWNR) WITH UNCERTAINTY QUANTIFICATION

An improved computational model of the University of Wisconsin Nuclear Reactor (UWNR) was developed to support the benchmark evaluation of recent data acquired during an experimental campaign conducted at UWNR. Previous efforts led to a scripted UWNR model for automated generation of MCNP6 and Serpent inputs. This capability was extended to SCALE/KENO. All three tools were used to evaluate a variety of zero-power, fresh-critical configurations, and the results agreed well. The MCNP6 model was extended to support shuffling the core configuration, which allows the modeling of burnup for evaluation of depleted critical configurations. The MCNP6 model successfully predicts core reactivity over time, after accounting for the initial reactivity bias. The inclusion of SCALE/KENO input generation enables sensitivity and uncertainty analyses using the TSUNAMI and Sampler modules of SCALE. A preliminary uncertainty analysis was performed with TSUNAMI for nuclear data uncertainties while direct perturbation calculations were performed using MCNP6 for geometry and material uncertainties, which helped to identify model parameters with the largest effect on the eigenvalue. A transient UWNR transport Model in Mammoth/Rattlesnake is under development to simulate the transient experiments. The existing MCNP6 and Serpent models are used to provide the CAD file for meshing and homogenized cross-sections. In conclusion, the evaluation of UWNR benchmark data provides increased confidence in various states of the UWNR computational model and will provide a unique model for use by other analysts.