美國CPA《財務(wù)會計與報告》考點：金融工具

　　正保會計網(wǎng)校特別為美國CPA學(xué)員整理了美國CPA考試《財務(wù)會計與報告》的知識點，以備迎接美國CPA考試，祝您在網(wǎng)校學(xué)習(xí)愉快！　　

Financial Instruments

Financial instruments include:

Cash,foreign currency,and demand deposits

Ownership interest in an entity

Contracts that both impose on one entity a contractual obligation or duty and convey to the second entity a contractual right to do the opposite.（Call option, Put option）

Derivative.

On specified election dates,entities may choose to measure eligible financial instruments at fair value.

Under the fair value option, unrealized gains and losses are reported in earnings.

The fair value option is irrevocable and is applied to individual financial instruments.

Financial instruments disclosure

Fair value

Concentrations of credit risk

Market risk of all financial instruments

Derivatives（衍生工具）derive their value from other securities.

Derivatives有三個特征：

Underlyings（標(biāo)的價格）+notional amount （標(biāo)的物單位）

No initial net investment（無初始凈投資或很少的初始凈投資）

Net settlement（凈額結(jié)算）

An underlying is a specified price,rate, or other variable.

A notional amount is a specified unit of measure

Hedging is the use of a derivative to offset anticipated losses or to reduce earnings volatility.

Common derivatives are forward contracts,futures, swaps,and options

Option contract is a contract between two parties that gives one party the right, but not the obligation, to buy or sell something to the other party at a specified price.

The option buyer,or holder,must pay a premium to the option seller,or writer,to enter into the option.

Futures contract（期貨合同）is an agreement between two parties to exchange a commodity or currency at a specified price on a specified future date.

Futures contracts are made through a clearing house and have standardized notional amounts and settlement dates.

Forward contracts（遠期合同）are similar to futures contracts, except that they are privately negotiated between two parties with the assistance of an intermediary,rather than through a clearing house.

A swap contract（掉期合同）is a private agreement between two parties,generally assisted by an intermediary,to exchange future cash payments.

Common derivatives are forward contracts, futures,swaps,and options

Derivatives are reported as assets or liabilities by fair value.

Hedging instruments include : Fair value hedge,cash flow hedge, foreign currency hedge etc.

Only the effective part of cash flow hedge are recorded in OCI,all other changes in fair value are recorded in I/S.

Certain financial instruments have characteristics of both liabilities and equity.The following must be classified as liability

Mandatorily redeemable shares

Financial instruments that represent an obligatin to repurchase the issuer’s equity shares by transferring assets.

An obligation to issue a variable number of shares.

Accounting for financial instruments under IFRS 9

Financial assets classified as “Debt instruments”&“Equity instruments”.

Financial assets initially measured at fair value,then subsequently measured at amortized cost or fair value.

Financial liabilities initially measured at fair value, then subsequently measured at amortized cost or fair value.

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