ACC 573-Fair Market Accounting-Accounting for Derivatives

“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