Financial Instruments
2020-03-25 08:43:50 7 举报
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USCPA复习提纲-金融资产
作者其他创作
大纲/内容
Financial Instruments
Overview
Financial Assets
Cash
Evidence of an ownership interest in an entity
Contract conveys right to receive cash or othe FI or exchange FI on favorable terms
Financial Liabilities
Contract imposes obligation to make payment or exchange on unfavorable terms
Fair Value Option
Election Dates
Debt Securities
Examples
Classification
Trading Securities
Available-for Sale Debt Securities
Held-to-Maturity Debt Securities
Valuation
FV
FV changes is unrealized
Trading debt securties--net income
AFS debt securities--OCI
Realized G/L all to NI
When debt securities are sold
When AFS debt is deemed to be impaired
Amortized cost
Reclassification
Trading to any other
No unrealized G/L
Any other to Trading
Recognize unrealized G/L in current earnings
HTM to AFS
Unrealized G/L in OCI
AFS to HTM
Income
interest income from trading or AFS is recorded by crediting Interest Income on NI
Impairment(All realized loss)
ECL
PV FCF - Amortized cost
HTM
ECL on IS to write down BV to PV
AFS
Sale of Debt Securities
Trading securities
Realized G/L=SP-carrying value
Realized G/L=SP-original cost. previously rec. unrealized G/L should be removed from AOCI
Equity Securities
Example
Fair Valur Through Net Income
Exception
No significant influence
Unrealized G/L on IS
Significant influence
Equity method
Control
Consolidate
Dividend income
Normal cash dividend
recognize Dividend Income on IS
Liquidating Dividend
Impairment
Sale of Security
Required Disclosures
For debt securities
For equity securities
Portion of unrealized G/L for securities still held ( that for sold one should be deducted)
Fair Value
Public entities must disclose measurement hierachy of FV
Concentrations of Credit Risk
Must
Market Risk
Optional
Under IFRS 9
Business model for managing FA
Contractual CF model
Debt Instruments
If to collect contractual CF and for SPPI (HTM)
Equity Instruments
FVPL
FVOCI ( only when it is irrevocably elected on initial recognition)
Reclassifications
Generally used
Reclassification between AC and FV is prohibited
Not applied to FVPL
Recognized in \"Loss allowance\
AC-in earnings
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