Dear Tutor, Please see the questions and points below. Based on this, please assist to prepare the answer based on mark allocation:

Question 1 (50 marks)

List and elaborate TEN (10) potential accounting and reporting issues that is most prevalent and will provide challenges resulting from the effect of the Covid-19 pandemic.

1)Impairment of nonfinancial assets

2)Provision for contracts - backup money

3)Inventories-OBS

4)Going concern

5)Government support

6)Fixed production overheads

7)Disclosure in financial statements - judgment, provision

8)Lease contracts

9)Receivable - Bad debts, PDB

10)Events after reporting date (adjustments)

11)Impact on auditor's report "material uncertainty related to going concern" - MUGC

12)Breach of loan contracts