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Provide a brief Explanation on following accounting matters on how they are impacted by Corona-virus...

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Accounting

Provide a brief Explanation on following accounting matters on how they are impacted by Corona-virus Disease:

  • Property Plant Equipment
  • Leases
  • Fair Value Measurements

Please provide the explanation like following:

Accounting standards (IAS 2/ AASB 102) sets the guidelines for accounting for inventory. So by explaining initially how the standards apply to inventory, you then need to discuss the impact of COVID-19 on accounting for inventories for example on writing-down inventories due to lower prices, or inventory obsolescence due to lower sales of the company of choice etc

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