The Corona Virus outbreak has developed rapidly in 2020, with a significant number of infections. Measures taken to contain the virus have affected economic activity, which in turn had implications on financial reporting. The implications include not only the measurement of assets and liabilities, but also disclosure and possibly an entity’s ability to continue as a going concern. 

Required 

1) Summarize the effects of the corona virus on the financial statements, taking into consideration the topics we have covered during this course so far.

 2) Give an example of these effects from the financial statements of a Palestinian public company listed on Palestine Exchange.

Answer rating: 100% (QA)

Covid19 has forced different companies all over the world to struggle increasing and maintaining their balance sheet as of today This pandemic brought these companies to an immediate write down of ass... View the full answer