Accounting - Fair value.

Hi,

I need a mudel answer for exame paper, the Q is about fair value. i need the answer to be as following. please contain all the point in the answer.

 1- First Paragraph

- Define fair value measurement ( there is a new defintion IFRS 13)

- importance of fair value

2 -  Secound paragraph

- advantages and disadvantages
For example: Transparency & reflect market condition 

3- Third paragraph
-explain the characteristics of financial crisis while you explain Fair value and the effect of fair value in financial crisis.
For example: Liquidity of the market & market volatility 

4- Fourth paragraph

- explain the three levels of fair value measurement and give examples.

Note: please see the attached files i upload some could be helpfull for the answer.

Thank u