The disclosure requirements for financial assets that have been reclassified at amortised cost include: $$\begin{array} { | l | c | c | c | c | }
\hline & \mathrm { I } & \mathrm { II } & \mathrm { III } & \mathrm { IV } \
\hline \text { The interest incorne or experise recopraised } & \text { No } & \text { No } & \text { Yes } & \text { Yes } \
\hline \begin{array} { l }
\text { The effective interest rate or the reclassification } \
\text { date }
\end{array} & \text { No } & \text { Yes } & \text { Yes } & \text { No } \
\hline \begin{array} { l }
\text { The fair value of the firarncial assets at the end of } \
\text { the reportirip period after reclassification }
\end{array} & \text { No } & \text { Yes } & \text { Yes } & \text { Yes } \
\hline \begin{array} { l }
\text { The fair value gair or loss that would have beent } \
\text { recogrised in the firmaricial year if ro } \
\text { reclassification had occured. }
\end{array} & \text { Yes } & \text { No } & \text { Yes } & \text { No } \
\hline
\end{array}$$
A) I.
B) II.
C) III.
D) IV.

Question

The disclosure requirements for financial assets that have been reclassified at amortised cost include: $$\begin{array} { | l | c | c | c | c | } 
\hline & \mathrm { I } & \mathrm { II } & \mathrm { III } & \mathrm { IV } \
\hline \text { The interest incorne or experise recopraised } & \text { No } & \text { No } & \text { Yes } & \text { Yes } \
\hline \begin{array} { l } 
\text { The effective interest rate or the reclassification } \
\text { date }
\end{array} & \text { No } & \text { Yes } & \text { Yes } & \text { No } \
\hline \begin{array} { l } 
\text { The fair value of the firarncial assets at the end of } \
\text { the reportirip period after reclassification }
\end{array} & \text { No } & \text { Yes } & \text { Yes } & \text { Yes } \
\hline \begin{array} { l } 
\text { The fair value gair or loss that would have beent } \
\text { recogrised in the firmaricial year if ro } \
\text { reclassification had occured. }
\end{array} & \text { Yes } & \text { No } & \text { Yes } & \text { No } \
\hline
\end{array}$$
A) I.
B) II.
C) III.
D) IV.

Quizplus · Accepted Answer

Column III is the only one where all the required disclosures for financial assets reclassified at amortised cost are correctly marked as "Yes" for the interest income or expense recognized, the effective interest rate or the reclassification date, and the fair value of the financial assets at the end of the reporting period after reclassification. It also correctly identifies the requirement to disclose the fair value gain or loss that would have been recognized in the financial year if no reclassification had occurred.

The Disclosure Requirements for Financial Assets That Have Been Reclassified