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Write a critical reflection about the article titled, Business groups call for halting fair value...

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Accounting

Write a critical reflection about the article titled, Business groups call for halting fair value accounting as virus spreads by Nicola White published in the online news portal Bloomberg Tax Portal. A pdf version of the article is available in the Assignment folder. The article can be also found here (Business Group Calls for Halting Fair Value Accounting as Virus Spreads (bloombergtax.com)) You are required to do appropriate research. In your reflection include in-text Citations taken from appropriate authoritative sources (note that Harvard referencing is required, including a Reference List). Your critical reflection should highlight, but not limited to, the following points. a) Describe some of the major challenges in relation to the application of fair value accounting during the global pandemic. In your view, what can be done to alleviate the challenges? b) According to this article there is a call for suspension of fair value accounting technique during the global pandemic. Do you agree that regulators should suspend fair value accounting? Provide necessary justifications to support your answer. c) What is your personal take, as an accounting student, after conducting this research?

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