Evaluate the contemporary accounting issues in the annual report of an ASX-listed company- Qantas Airways Limited (ASX: QAN)

You have recently been appointed as a financial analyst. You are asked to prepare a research report that presents your analysis of several contemporary accounting issues of Qantas Airways Limited (Qantas) listed on the Australian Stock Exchange (ASX). Peruse the 2019 Qantas annual report and answer the following questions.

Search "Qantas FY19 Annual Report" online for the 2019 Qantas annual report.

1. Accounting Policy

Dealing with the accounting consequences of the COVID-19 pandemic requires Qantas to review the application of some of its usual accounting policies and practices or consider implementing new accounting policies.

Required:

Review Qantas's accounting policies and notes to the statements, identify and discuss TWO key financial reporting areas that could considerably impact annual financial statements due to the COVID-19 pandemic. Your discussions may refer to accounting standards where relevant.