Investments & Securities

Card Set Information

Author:
rjfisher
ID:
133490
Filename:
Investments & Securities
Updated:
2012-02-07 12:12:57
Tags:
ACCTG 302
Folders:

Description:
Investments & Securities
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  1. Trading Securities are:
    Initially recorded at __________
    Reported at __________
    Changes in FV are reported as ____________ as a part of _______
    • Cost
    • Fair Value
    • Unrealized Holding gains and losses, Net Income
  2. Available for Sale Securities are:
    Initially recorded at ________
    Repoted at ____________
    Changes in FV are reported as _________ as a part of _____
    • Cost
    • Fair Value
    • Unrealized Holding Gains and Losses; OCI
  3. Held to Maturity Securities are:
    Intially recorded at ________
    Recorded at _________ value
    Changes in FV are __________
    • Cost
    • Ammortized value (Net value of Discount/Premium)
    • Not reported
  4. Account used to record changes in FV for AFS and TS
    FV Adjustment (AFS or TS) - is a valuation account that can increase OF decrease value of an asset
  5. How to record unrealized G & L for AFS:
    • Dr. FV Adjustment (AFS)
    • Cr. Net Unrealized Holding Gains and Losses - OCI
  6. How to record unrealized G&L TS:
    • Dr. FV Adjustment (TS)
    • Cr. Net Unrealized Holding Gains and Losses - N/I
  7. Passive Interest defintion and accouting method:
    Holding less than 20% - Fair value
  8. Significant Influence definintion and accounting method:
    • Holding from 20% - 50%
    • Equity Method
  9. Controlling Interest definintion and accounting method:
    • Holdings > 50%
    • Consolidated financial statements
  10. Equity Method:
    Record investment at ________
    Record ___of_____ as a _______ of ______ based on ____
    Record ______ based on _____ of _____ payments
    • Cost
    • Revenue or Loss; percentage of ownership; based on Net Income - INC/DEC of INVS
    • decrease in INVS; % ownership of dividend
  11. SPECIAL NOTE TO EQUITY METHOD:
    Must make sure to record _______ of assets based on ___ of ______
    deprectiaion; % of ownership

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