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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