“Fair Market Accounting” Please respond to the following:

• Create an argument for the use of Fair Market Accounting as opposed to historical cost. Provide support for your argument. 
• Evaluate  the effectiveness of the accounting principle guidelines for  determining the market value of an asset, indicating improvements to  these guidelines. Provide support for your recommendations.

“Accounting for Derivatives” Please respond to the following:

• Assess  the risks associated with derivatives instruments, indicating how these  risks may be minimized for a publically traded company. Provide support  for your rationale. 
• As an investor, assess the potential  financial concerns to be raised when reviewing the financial statements  of a publically traded company containing derivative instruments  providing a recommendation for how the concerns may be identified and  addressed.

Each question should be answered with at least 200 words