Respond to each of the following topics using guidance in the Codification. Cite your sources for all responses. Your answer should be organized and clearly written. Treat each as if it is a portion of an accounting issues memo.

Refer to the list of required reading areas identified in chapter 2 of your text. Applying this list to ASC 820, list all areas of required reading a researcher should consider when researching fair value measurement questions.

A checklist of require reading

1. Confirm that your specific transaction is within the scop of this guidance.

2. Find guidance that appears to be on point (for example, in the recognition section)

3. read any preceding paragraphs that are related

4.skim the rest of that section for other potentially relevant guidance.

5. Skim for potentially relevant headings in the implementation guidance section

6. See whether SEC guidance is available for the section you are searching.

Briefly summarize, then explain the significance of par. 15-1 (scope) of ASC 820-10 (Fair Value Measurement).

Briefly summarize par. 30-3 (initial measurement) of ASC 820-10 and provide one example listed in par. 30-3A of an instance when transaction price may not be reflective of fair value.

Briefly summarize par. 35-2B of ASC 820-10.Next, look for an example of a circumstance in which an asset may have restrictions on its use or sale.Finally, describe how this restriction should be considered in determining the fair value of the asset.