Bond reporting options

CFA Level I FRA
#1

"When market interest rates decline, the fair value of the bond with a fixed coupon increases"

"A company selecting the fair market option for a liability with a fixed coupon will report gains when market interest rates increase"

"When interest rates decrease or other factors cause the fair value of a company’s bonds to increase"

It seems as if these statements are contradictory. I can understand (or at least, I think) that when market rates increase relative to the coupon paid, the issuers report a gain (because now they’re paying less than market rate for interest). Is the second statement referring to the holders of the bond?

#2

Where exactly did you read these?

If you’re using the fair value option, then when the market value of your liabilities increases (e.g., you issued fixed-coupon bonds and interest rates decrease), you show a loss, and when the market value of your liabilities decreases (e.g., you issued fixed-coupon bonds and interest rates increase), you show a gain.