remember that unrealized gains/losses on TRADING securities hit the income stmt every qtr, but gains/losses on AFAS do not. The AFAS gains/loss are thrown into comp income (part of SE on the balance sheet) this is shady, because a firm can switch from AFAS to TRADING when they have gains and prop EPS or mask an otherwise bad quarter. throwing it out there.
Please don’t shout at me, but I have forgotten/don’t know even what AFAS is!!! Looks like I have forgotten everything. Just had a look at book 6 and seems like I’m seeing it for the first time! 
anupamjain008 Wrote: ------------------------------------------------------- > Please don’t shout at me, but I have > forgotten/don’t know even what AFAS is!!! > > Looks like I have forgotten everything. Just had a > look at book 6 and seems like I’m seeing it for > the first time! AFAS = available for sale securities. i am doing FSA wed and thursday b/c FSA = 20-25% of test and I am not ready yet in this regard.