Fair Market Accounting and risks associated

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.

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.