Financial Assets at Fair Value
Free CPA FAR (Financial Accounting & Reporting) lesson in Select Balance Sheet Accounts. 29 min read, ~4,389 words.
Trading debt = fair value through net income (FV-NI); every tick hits the income statement. AFS debt = fair value through OCI (FV-OCI); unrealized gains and losses park in AOCI and recycle into net income on disposal via a reclassification adjustment. AFS unrealized gains and losses are presented net of...
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What this lesson covers
- Content
- Example 1
- Example 2
- Example 3
- Example 4
- Example 5
- Example 6
- Example 7
- Example 8
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- II.E1
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