Accounting
Financial Preparedness Guide Available from AICPA & CIMA
The guide offers tips to help safeguard loved ones, health, property, and crucial records.
Sep. 13, 2023
Thunderstorms, hurricanes, droughts, wildfires, and earthquakes are wreaking havoc worldwide, in 2023, there have already been 15 confirmed weather/climate disaster events with losses exceeding $1 billion each to affect the United States according to the National Centers for Environmental Information.
However, the financial impact is only the tip of the iceberg; close to 113 people have tragically lost their lives, leaving behind a trail of heartache, and thousands more are desperately trying to rebuild what’s been torn apart. The devastation caused by these natural disasters goes beyond the numbers.
In an effort to help people and businesses mitigate potential damages and lessen the financial blow of a natural disaster, AICPA & CIMA are are providing and aids to help individuals and small businesses get on the road to personal and financial recovery. It includes information ranging from tax relief to financial planning after a disaster hits. These resources are here to financial guidance during these difficult times.
The AICPA, American Red Cross, and National Endowment for Financial Education (NEFE) have also developed Disasters and Financial Planning: A Guide for Preparedness and Recovery – a comprehensive, interactive guide designed to help people and businesses take proactive steps and minimize the potential impact of natural disasters their personal lives and finances. The guide offers tips to help safeguard loved ones, health, property, and crucial records.
Natural disasters don’t discriminate; they disrupt businesses and organizations of all sizes. Small businesses are especially vulnerable to the financial impacts of a natural disaster, which is why business owners should ensure their continuity blueprint is in place and updated.
The Red Cross Plan and Prepare is an online tool that complements the guide and assists people in planning and preparing for events at home, school, and the workplace, along with providing additional tools and apps.