raheema.begum, if you can, I need help with this question;Air France ? KLM, a French company, prepares its financial statements according to International Financial Reporting Standards. AF's annual report for the year ended March 31, 2011, which includes financial statements and disclosure notes is attached in the file.;2. Examine the long-term borrowings in AF?s balance sheet and the related note. Note that AF has convertible bonds outstanding that it issued in 2005. Prepare the journal entry AF would use to record the issue of convertible bonds. Prepare the journal entry AF would use to record the issue of convertible bonds if AF used U.S. GAAP.;3. AF does not elect the fair value option (FVO) to report its financial liabilities. Examine Note 32:3. "Market value of financial instruments." If the company had elected FVO for all of its debt measured at amortized cost, what would be the balance at March 31, 2011, in the fair value adjustment account?
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