U.S. GAAP Codification of Accounting Standards

U.S. GAAP Codification IFRS International Standards Accounting Standards, ASC

U.S. GAAP Accounting Standards
Codification Topic 320: Investments-Debt and Equity Securities


Principles of Accounting Intermediate Financial AccountingU.S. GAAP Textbook
IFRS,  IFRS Dictionary IFRS U.S. GAAP Comparison IFRS Texbook
Securities Law Library,  Accounting by Topic Accounting Terms Dictionary


   Codification Topic 320
   Investments-Debt and Equity Securities


Investments in Debt and Equity Securities

   Debt securities: represent creditor relationship
   Equity securities: represent ownership interest
 
Investments in Equity Securities
 
   1. more than 50% of voting power
       --> prepare consolidated financial statements
   
   2. 20% or more, but no more than 50%
       --> equity method accounting
   
   3. less than 20%
       --> classified as either (a) or (b)
       (a) trading securities
       (b) available for sale securities

Investments in Debt Securities
 
   1. Held-to-maturity securities
       --> intent and ability to hold until maturity
   
   2. No intent or ability to hold until maturity
       --> classified as either (a) or (b)
       (a) trading securities
       (b) available for sale securities 

Trading Securities
   
   Characteristics
       (a) "active and frequent" buying and selling
       (b) profits on "short-term price differences"
 
Available for Sale (AFS) Securities
   
   Securities not classified as either (a) or (b)
       (a) Trading Securities
       (b) Held-to Maturity (HTM) Securities

Measurement of Investments in Securities
  
   1. Trading Securities: Fair Value
   2. AFS Securities: Fair Value
   3. HTM Securities: Amortized Cost

Changes in Fair Value: Unrealized holding gains or losses
  
   1. Trading Securities: recognized in earnings
   2. AFS Securities: recognized in Other Comprehensive Income (OCI), not in earnings
   3. HTM Securities: not recognized


Impairment of AFS and HTM Securities

   If the decline in fair value is "other than temporary"
   --> recognize impairment losses in earnings

  
International Financial Reporting Standards (IFRS)
 
    IAS 39: Financial Instruments: Recognition and Measurement



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   Codification Topic 320
   Investments-Debt and Equity Securities
 
Subtopics of Codification Topic 320
 
   320-10 Overall   
 
Accounting Terms of Codification Topic 320-10
 
   Amortized cost basis
   Asset group
   Available-for-sale securities
   Component of an equity
   Cost basis
   Debt security
   Equity security
   Fair value
   Holding gain or loss
   Operating segment
   Readily determinable fair value
   Reporting unit
   Retrospective interest method
   Security
   Structured note
   Trading
   Trading securities
 


   Other Topics at the Codification 300 
Accounting Standards Codification, ASC, Overview
 
ASC Codification Topic 305: Cash and Cash Equivalents
 
ASC Codification Topic 310: Receivables
 
ASC Codification Topic 320: Investments-Debt and Equity Securities
ASC Codification Topic 323: Investments-Equity Method and Joint Ventures
ASC Codification Topic 325: Investments-Other
 
ASC Codification Topic 330: Inventory
 
ASC Codification Topic 340: Other Assets and Deferred Costs
 
ASC Codification Topic 350: Intangibles-Goodwill and Other
 
ASC Codification Topic 360: Property, Plant, and Equipment


   U.S. GAAP Codification of Accounting Standards
Accounting Standards Codification, ASC, Overview
ASC Codification 200: Presentation
ASC Codification 300: Assets
ASC Codification 400: Liabilities
ASC Codification 500: Equity
ASC Codification 600: Revenue
ASC Codification 700: Expenses
ASC Codification 800: Broad Transactions
ASC Codification 900: Industry

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