In the 2020 financial statements, Breville Group Ltd. (Breville, 2020) reports their accounting policies in note 1 and includes the following statement: (a) Basis of preparation The financial report is a general-purpose financial report, which has been prepared in accordance with the requirements of the Corporations Act 2001 and Australian Accounting Standards. The financial report has also been prepared on a historical cost basis, except for derivative financial instruments which have been measured at fair value. Please respond: i ) After reading the accounting policies disclosure (Breville, 2020, pp. 62-63), discuss the usefulness of this disclosure for financial and non-financial users. (5 marks) ii) Breville (2020) uses fair value accounting for derivative financial instruments. a. Indicate the fair value hierarchy of these instruments. (2 marks) b. Critically evaluate the relevance (Conceptual Framework) of the use of fair value in this Breville case. (13 marks) Reference