Accounting for Hybrid Securities: The Case of Adjustable Rate Convertible Notes.
讨论可调整利率可转换票据（ARCN）的财务和税务报告处理，并提出一种关注工具实质的会计方法，对处理其他混合金融工具也有参考价值。
Abstract A number of new types of financial instruments have appeared in recent years, many of which have characteristics of both debt and equity. Accounting standards, however, have not specified the treatment of these hybrid securities for financial reporting purposes. As a result, companies have considerable latitude in how the instruments are reported, and some instruments have been designed in part for their financial reporting implications. One such instrument is the adjustable rate convertible note (ARCN). The treatment of ARCNs for both financial and tax reporting is discussed and an approach to accounting for ARCNs and other hybrid financial instruments is proposed which focuses on the substance of the instruments.