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.

Make sure to:
• Summarize and paraphrase the information using your own language, don’t use terms that you don’t know their meaning.
• Don’t plagiarize from any book or website.
• This is an individual assignment and not a group assignment. Copied answers from other students is prohibited.
• Use at least two resources (Book, website, journal….).
• Acknowledge your resources by stating a proper bibliography (list of references).