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If you are going to answer these questions: Please make sure it is tidy...

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Accounting

If you are going to answer these questions:

Please make sure it is tidy and clean.

Please answer it yourself and don't paraphrase some else work.

Please consider the word count instructions which is 300 words for each question.

Please do not steal other people solutions and paraphrase it...

Thank you.image

Question 3: Accounting for values (35 marks, 300 words) XYZ Company bought real estate properties in Boston 50 years ago for $30,000. In 2020, a real estate appraiser inspects the properties and concludes that their expected market value is $2 million. The company has been using historical accounting principles for the last 50 years. A newly appointed financial manager recommends the use of fair value accounting for the value of the properties. Discuss the difference between the two approaches. Do you agree with the financial manager? Why or why not

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