need helper for accounting unit assignment about bitcoin, details are below..

Part 1 (90 marks)

You are a recent graduate working for a Big 4 accounting firm and your manager has asked you to prepare a report (max 1,500 words) which is to be presented to the Chief Financial Officers (CFO) of the firm's major clients. The report should:

a.Discuss whether Bitcoin meets the definition and recognition criteria of an asset in the Conceptual Framework. (5%)

b.Discuss and critique the arguments for and against accounting for Bitcoin as i) inventory and ii) an intangible asset. (50%)

c.Provide and explain the journal entries on initial and subsequent recognition of the Bitcoin if the i) inventory standard and ii) intangible asset standard applies. Consider subsequent increases and decreases in the market price of Bitcoin. (25%)

d, Explain the implications for earnings management depending on whether Bitcoin is accounted for as i) inventory and ii) an intangible asset. (20%)