Week 4 – Discussion 2No unread replies.No replies.Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.Fair Value [WLOs: 1, 2, 3, 4] [CLO: 5]Prior to beginning work on this discussion, review the following:Chapter 6 in the textbookWrite: Make sure your response addressing the following question is more than 200 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper(Links to an external site.) resource from the Ashford Writing Center for proper use of citations.Discuss the advantages and disadvantages of using fair value to measure the elements reported on the balance sheet. Include specific examples, and connect your response to the conceptual framework.Guided Response: Respond to at least two of your classmates by commenting on their posts. Though two replies are the basic expectation for class discussions, for deeper engagement and learning, you are encouraged to provide responses to any comments or questions others have given to you. Continuing to engage with peers and the instructor will further the conversation and provide you with opportunities to demonstrate your content expertise, critical thinking, and real-world experiences with the discussion topics.Attendance Notification: To meet attendance requirements in this class, you must post to the discussion board at least once every seven days. Completing work in MyAccountingLab does not count as attendance.