Core $1$ Module WorkshopCandidate pre$-$workComplete the following research in preparation for the Module Workshop:CPAs must evaluate information needs and assess accounting policy options thatbest meet those needs. In order to develop effective professional judgment, it isnecessary to first understand the accounting policy options.Research the following accounting policy options and summarize your findings in amemo. Assume you are writing to a candidate who recently started in the CPA PEPprogram. The memo should be no longer than two pages.a$)$ How are property, plant, and equipment measured under ASPE? Include bothinitial and subsequent measurement in your discussion. What are themeasurement options under IFRS? Be sure to discuss the cost and therevaluation models under IFRS.b$)$ What options exist for the accounting of subsidiaries under ASPE? Note thatsubsidiaries are investments where the parent has control over the subsidiary.c$)$ What are the accounting policy choices for the accounting of research anddevelopment costs under IFRS? Under ASPE?d$)$ What are the revenue recognition options for when service revenue can berecognized under IFRS? Under ASPE?e$)$ Explain the different categories of financial assets $($such as passive investments$)$and their measurement under IFRS and ASPE. Note: Use IFRS $9$ as the IFRSsource.