Summary on IFRS & US GAAP

CFA Level I FRA
#1

Hi,

Can anybody share with me summary of IFRS and US GAAP guidelines on available for sale secuiries, held till maturity, available for use please.

I get confused all the time.

Thanks.

#2

If you know the constituents of Other Comprehensive Income… you shouldn’t have a problem.

All realized gains are t/f to Income statement no matter the classification(i.e intt and dividends)

Regarding unrealized gains:

HTM: reported at Historical Cost…so there is no issue regarding unrealized gains/losses

HFT/HFS: are reported at FV…SO unrealized gains/losses have to be accounted for

Since Unrealized gains/losses from Held for sale are reported as other comprehensive income so by default unrealized gains/losses from HFT will be t/f to income statement.

Hope this helps