U.S. GAAP Codification of Accounting Standards

U.S. GAAP Codification Accounting Standards, ASC



U.S. GAAP Codification of Accounting Standards
Codification Topic 3
20-10-35:
Transfers of Securities: Between Categories


U.S. GAAP Codification Updates
Principles of Accounting Intermediate Accounting Advanced Accounting
Accounting Terms


   Codification Topic 320-10-35
  
Transfers of Securities: Between Categories

Reclassification of Investments in Securities

1. All securities reclassified 
--> from one category to another
--> are transferred at fair value

2. From Trading to Other
--> Unrealized Holding Gain and Loss (HGL) at transfer date
--> already recognized in earnings
--> not reversed

3. From Other to Trading
--> Unrealized Holding Gain and Loss (HGL) at transfer date
--> recognized in earnings immediately

4. From HTM to AFS
--> Unrealized Holding Gain and Loss (HGL) at transfer date
--> recognized in OCI

5. From AFS to HTM
--> Unrealized Holding Gain and Loss (HGL) at transfer date
--> stays in OCI
--> amortized over remaining life of security

6. Following transfers should be rare
--> from HTM to Other
--> from Trading to Other
--> from Other to Trading

7. Classification
--> reassessed at the end of each reporting period


OCI: Other Comprehensive Income
Trading: Trading Securities
AFS: Available-for-Sale Securities
HTM: Held-to-Maturity Securities
HGL: Holding Gain and Loss
FVPL: Financial Assets and Financial Liabilities at Fair Value through Profit or Loss

[U.S. GAAP, SFAS 115]
Reclassification out of Trading
--> allowed, in rare situations

[U.S. GAAP, SFAS 65]
Reclassification 
--> out of Mortgage Loans Held for Sale
--> into Mortgage Loans Held for Long Term Investments
--> allowed, if certain conditions are met


   Codification Topic 320
   Investments-Debt and Equity Securities
 
Subtopics of Codification Topic 320
 
   320-10 Overall   
 
Accounting Terms of Codification Topic 320-10
 
   Amortized cost basis
   Asset group
   Available-for-sale securities
   Component of an equity
   Cost basis
   Debt security
   Equity security
   Fair value
   Holding gain or loss
   Operating segment
   Readily determinable fair value
   Reporting unit
   Retrospective interest method
   Security
   Structured note
   Trading
   Trading securities


   Other Topics at the Codification 300 
Accounting Standards Codification, ASC, Overview
 
ASC Codification Topic 305: Cash and Cash Equivalents
 
ASC Codification Topic 310: Receivables
 
ASC Codification Topic 320: Investments-Debt and Equity Securities
ASC Codification Topic 323: Investments-Equity Method and Joint Ventures
ASC Codification Topic 325: Investments-Other
 
ASC Codification Topic 330: Inventory
 
ASC Codification Topic 340: Other Assets and Deferred Costs
 
ASC Codification Topic 350: Intangibles-Goodwill and Other
 
ASC Codification Topic 360: Property, Plant, and Equipment


   U.S. GAAP Codification of Accounting Standards
Accounting Standards Codification, ASC, Overview
ASC Codification 200: Presentation
ASC Codification 300: Assets
ASC Codification 400: Liabilities
ASC Codification 500: Equity
ASC Codification 600: Revenue
ASC Codification 700: Expenses
ASC Codification 800: Broad Transactions
ASC Codification 900: Industry

U.S. GAAP by Topic
Accounting Topics


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