PER help on – Analyse and interpret financial reports D&E

Hi Guys

I was writing up my PER experiences and this is the last objective that I need before I can send everything for approval. In technical objective, I was halfway through “Analyse and interpret financial reports” and I got stuck on D&E.

D- Evaluate the effects of fair value measurements and any underlying estimates on the reported performance and position of an entity.

E- Conclude on the performance and position of an entity identifying relevant factors and make recommendations to management.

I work in a small accountancy practise, I draft accounts and CT computations daily and get the senior to review them.

I am not sure what to write about these two objectives, especially D. Can anyone point me in the right direction?

For E, as I am only drafting the accounts and haven’t got much dealing with clients directly just yet, is that mean I couldn’t fill this one out? I mean I do point out on my review note to the senior on client turnover movement, does this count?

I would appreciate if anyone could point me out in the right direction.
I will have a word with my colleagues tomorrow if I still can’t figure anything out.

Thanks for help guys!

Yong