there are a variety of authorities accounting pronouncement dealing with debt
and equity. From the e-Activity, summarize the current accounting treatment for
investments in debt and equity securities. Identity three (3) issues with
implementation that the Emergency Issues Task Force (EITF) has addressed.
Recommend a way in which one could overcome these implementation issues.
responsible for the company’s investment portfolio. However, the president of
the company is not familiar with the various classifications of investments.
Your organization has tasked you with presenting a report to the president that
compares and contrasts trading securities and available for sale for securities,
and the impact the securities have on the financial statements. Also, include in
your report a brief explanation of the accounting treatment for unrealized gains
and losses and stress to management the importance of maintaining a portfolio of
current and non-current securities
Week 1 eActivity
- Review the authoritative literature on Statement of Financial Accounting
Standards (SFAS) 115 at the FASB Website, located at http://www.FASB.org.
Note: Click “advance search”, type in “SFAS 115”, for search
options select “All”, and click the arrow to begin the search. Be prepared to
discuss.
