The recent outbreak and spread of the coronavirus has now disrupted many businesses globally and has had a significant impact on financial markets. This publication focuses on the potential accounting and financial reporting implications of coronavirus that management should take into consideration when preparing the financial statements for the year ended 31 December 2019. Different considerations will apply for later accounting periods e.g. for financial statements for periods ending 31 March 2020 or other accounting periods with a reporting date subsequent to the outbreak taking place.