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U.S. GAAP Codification of Accounting Standards |
| U.S. GAAP Codification | Accounting Standards, ASC |
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U.S. GAAP
Codification of Accounting Standards |
| U.S. GAAP Codification Updates |
| Principles of Accounting, Intermediate Accounting, Advanced Accounting |
| Accounting Terms |
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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 |
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Codification Topic 320 Investments-Debt and Equity Securities |
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Subtopics of Codification Topic 320 320-10 Overall |
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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 |
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