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Good points but I think the answer is to pick one (I'd vote #4 but I'm open to debate) and enforce it at a regulatory level. Issues arise when you're allowed to change how you value assets based on what's most favorable at the time.

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Ah... but if you do that, you'll be forcing companies to pick an arbitrary measure, regardless of how well it describes the underlying economics. The goal of accounting is description, not conformance.

As a practical matter, this would require the enforcement agency to publish the correct price for every asset regulated.

Publishing a formula for this calculation wouldn't be good enough, because then you would be required to value things based on the formula and that leads you back to...accounting.

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