Question: 1.What is fair value reporting? 2.what is the difference between the old reporting standards and the new fair value reporting procedures for trading securities, held-to-maturity,

1.What is fair value reporting?

2.what is the difference between the old reporting standards and the new fair value reporting procedures for trading securities, held-to-maturity, and available-for-sale securities?

3.Give some example of how the new reporting standards potentially affect the balance sheet and the income statement

4.Why the fair value standards adopted and would you agree or disagree with the benefits of the new reporting standards.

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