Explain how IFRS accounting standards and a firm's choice of accounting policies and accounting and actuarial estimates are used to determine the values for the following items on a firm's balance sheet: (a) In current assets: indistinguishable goods such as oil and steel ingots; work-inprogress & finished goods; accounts receivable. (b) In non-current assets: property, plant & equipment; brands and patents; net pension assets; goodwill. (c) In other comprehensive income in equity: items related to defined benefit pension plan Explain how IFRS accounting standards and a firm's choice of accounting policies and accounting and actuarial estimates are used to determine the values for the following items on a firm's balance sheet: (a) In current assets: indistinguishable goods such as oil and steel ingots; work-inprogress & finished goods; accounts receivable. (b) In non-current assets: property, plant & equipment; brands and patents; net pension assets; goodwill. (c) In other comprehensive income in equity: items related to defined benefit pension plan