USCPA每日一练之FAR【2015-11-19】

高顿网校2015-11-19 13:45Lynn.yu
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　　When a firm elects not to bifurcate a hybrid financial instrument, how should changes in fair value be recognized?

　　A. As a prior period adjustment with restatement of previous years’ financial statements.

　　B. As a cumulative effect adjustment to the beginning balance of retained earnings for the period.

　　C. On a prospective basis in the current year earnings and future year’s earnings.

　　D. As other comprehensive income.

　　Answer:C

　　C is corrent. The difference between the total carrying amount of the components of the bifurcated hybrid financial instruments and the fair value of the combined hybrid instruments should be recognized in earnings for the period.

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