I don’t understand this Accounting question and need help to study.
1-Describe the followings in your own words:
AWhat is Fair Value Accounting?
BWhat Is Fair Market Value Accounting? How the FASB is going to standardize the calculation of financial instruments by looking at their historical cost?
2- What do you mean by loan loss provision? Why Does a Loan Loss Provision Matter? Andhow does a loan loss provision work?
3- How to differentiate liquid risk and Credit Risk with reference to the financial economics sector and how the interest rate risk make an impact on the economy?