Core 1 Module Workshop Candidate pre-work Complete the following research in preparation for the Module Workshop: CPAs must evaluate information needs and assess accounting policy options that best meet those needs. In order to develop effective professional judgment, it is necessary to first understand the accounting policy options. Research the following accounting policy options and summarize your findings in a memo. Assume you are writing to a candidate who recently started in the CPA PEP program. The memo should be no longer than two pages. a) How are property, plant, and equipment measured under ASPE? Include both initial and subsequent measurement in your discussion. What are the measurement options under IFRS? Be sure to discuss the cost and the revaluation models under IFRS. b) What options exist for the accounting of subsidiaries under ASPE? Note that subsidiaries are investments where the parent has control over the subsidiary. c) What are the accounting policy choices for the accounting of research and development costs under IFRS? Under ASPE? d) What are the revenue recognition options for when service revenue can be recognized under IFRS? Under ASPE? e) Explain the different categories of financial assets (such as passive investments) and their measurement