Gains | Need Clarity

CFA Level I FRA
#1

Hi All,

Just wanted to get it clear if gains can be generated from normal course of business too or just from the secondary business activities that result in increase in the economic benefits

#2

No.

#3

Thanks for confirming.
As per Schweser page 24 from the CFA Level 1 FRA book it is mentioned that “Gains and losses may or may not result from ordinary business activities”
This is not correct right, as gains and losses are always generated from other course of business activities

#4

From the 2020 Level I CFA curriculum glossary:

Gain: Asset inflow not directly related to the ordinary activities of the business.

#5

Thanks S2000magician :slightly_smiling_face:

#6

My pleasure.