美国CPA《财务会计与报告》知识点：Marketable Securities

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Marketable securities include debt securities and equity securities.

A debt security is any security that represents a creditor relationship with an entity. A debtee （债权人） approximately has NO influence over the operating and financial policies of the investee.（仅大额债权人可对债务人的资产负债率、股利分配、重大资产出售等财务政策做少量限制。总体上讲，债权人对债务人的运营和财务影响十分有限）

An equity security is any security representing an ownership interest in an entity; the right to acquire ownership shares; and the right to dispose of ownership shares.

A equity holder（权益持有者）may has no significant influence, or significant influence, or control over the operating and financial policies of the investee.

Security represents an ownership interest in an entity include（存量权利凭证）

Common stock,

Preferred stock,

Other forms of capital stock （ADSs, American Depositary Shares（美国存托凭证）

Security represents the right to acquire ownership shares include（增量权利凭证）

Stock warrant（Gives the holder the right to purchase shares of common stock in accordance with terms of the instrument, usually upon payment of a specified amount）

Stock Rights（Provides an existing shareholder with the opportunity to buy additional shares）

Call options（Gives the holder the right to buy from the option writer at a specified price during a specified period of time）

Security represents the right to dispose of ownership shares include（减量权利凭证）

Put options （Gives the holder the right to sell to the option writer at a specified price during a specified period of time.）

考点：以下凭证不是Equity security

Redeemable prefer stock at the option of the investor.（投资者有权要求公司赎回的优先股）

Stock that must be redeemed by the issuer（公司必须要赎回的普通股）

Treasury stock（库存股）

Convertible bonds（可转换债券）

Marketable securities 三大分类（F3-3）

Trading securities（交易性金融资产）.Apply to Debt & Equity securities.Current asset.

Available-For-Sale securities（可供出售金融资产）.Apply to Debt & Equity securities. GR: Non current asset.

Held-to-Maturity securities（持有至到期金融资产）.Apply to Debt. GR：Non current asset.

Marketable securities（MS）核算的灵魂

追求将B/S上的MS从CV变为FV

追求将FV与CV的差异合理的放入I/S或OCI中

*FV, Fair Value

*CV, Carrying Value

各种MS的FV与NBV的差异，在B/S date及disposal date对损益的影响

FV对NBV	Trading	AFS	HTM
暂时性升降永久性上升	IDEA （Recognize G/L）	PUFER （OCI）	N/A
永久性下降	IDEA （Recognize G/L）	IDEA （Impairment）	IDEA （Impairment）
出售时	IDEA （Recognize G/L）	IDEA （Recognize G/L）	IDEA （Recognize G/L）

IFRS：

Financial assets at fair value through profit or loss

Trading

The assets which is designated as an investment at fair value through profit or loss using the fair value option

Available-for-sale

Held-to-maturity

各种MS在报表中的列示与金额

	Trading	AFS	HTM
B/S report	Fair Value	Fair Value	Amortized Cost
B/S分类（GR/SR）	CA/NCA	NCA/CA	NCA/CA
C/I-Unrealized G/L	I/S,FV-CV	OCI, FV-CV	N/A
C/I-Realized G/L	I/S, FV-CV	I/S, FV-CV	I/S, FV-CV
C/I-Impairment	N/A	I/S, FV-CV	I/S, FV-CV
Cash flow	Operating （CA） Investing（NCA）	Investing	Investing

MS的重分类：

1.新分类下的MS，以重分类日的FV为初始入账价值

2.重分类日的FV与CV的差异（unrealized gain/loss），按的新分类对此差异的处理方式记入I/S或OCI

	Trading	AFS	HTM
Trading	NA	无差异，不处理	无差异，不处理
AFS	I/S	NA	CV记账，原来OCI摊销
HTM	I/S	OCI	NA

Trading AFS HTM

Trading NA 无差异，不处理 无差异，不处理

AFS I/S NA CV记账，原来OCI摊销

HTM I/S OCI NA

Impairment of Securities

Only for AFS & HTM.Trading security NO impairment

Trigger: Decline in fair value & Decline is other than temporary（Permanent）

B/S Results:CV is written down to FV

I/S Results:Impairment loss is recognized in “IDEA”

OCI Results:Impairment loss is realized, directly enter “I” of IDEA, never enter OCI（PUFER中没有）

Subsequent:（GAAP）Never reverse back.（IFRS）Must be reverse back in I/S within the previous impairment loss limit.

Sale of security

Results in a realized gain or loss

Reported on the income statement for disposal period

When dispose of AFS, the unrealized gain/loss recorded in AOCI should be reclassified to I/S.（F1-36）

Sale of security（continued）

On 1/2/Y1 the company purchase stock $100K as AFS.12/31/Y1 the FV is $120K,6/30/Y2,the company sale out the stock for $130K.

Dr. AFS $100K（1/2/Y1）

Cr. Cash $100K

Dr. AFS $20K（12/31/Y1）

Cr. OCI $20K

Dr. Cash $130K（6/30/Y2）

Dr. OCI $20K

Cr. AFS $120K

Cr. Realized gain 30K

Income tax effects

Unrealized gains or losses may be exist deferred tax effects.（may be no difference,may be permanent difference,may be temporary difference）

No difference.If it enters into OCI,deferred tax effect do NOT exist.

Permanent or temporary difference.If it enters into I/S,deferred tax effect may exist.

Income tax effects（continued）

Temporary difference.Unrealized gains enter into I/S,deferred tax effect exist（DTL）.

Temporary difference.Unrealized loss enter into I/S,only exist deferred tax effect,when it is absolutely certain the benefit will be realized by offset it with future capital gain（DTA）.只有当你的亏损将来可能转回时，才符合资产定义，是暂时性差异。

Permanent difference. If it could not realized, permanent difference, no deferred tax effect, current tax effect.

Required Disclosures （Decisional useful）

Aggregate fair value

Gross unrealized holding gains and losses

Amortized cost

Contractual maturities of debt securities

F3-8 Comprehensive example

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