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FINANCIAL ASSETS @ FAIR VALUE (ONLY INCLUDES DEBT & EQUITY SECURITIES)
XX
Decrease:
Dr. Unrealized Loss TS
Cr. Trading Securities
XX
XX
XX
SALE
Gain:
Dr. Cash
XX
Cr. Trading Securities
Cr. Gain on sale of Trading Securities
XX
XX
Loss:
Dr. Cash
XX
Dr. Loss on sale of Trading Securities
Cr. Trading Securities
XX
XX
NOTE:
1. Unrealized Gain/Loss are part of Profit or Loss
2. Transaction Costs are EXPENSED OUTRIGHT
3. The account is not necessarily Trading Securities, it may be generalized as Financial Asset at Fair Valu
Investment in Equity Securities NOT held for trading but IRREVOCABLY ELECTED TO PRESENT CHANGES IN FAIR VALUE IN
OTHER COMPREHENSIVE INCOME
XX
Decrease:
Dr. Unrealized Loss OCI
XX
Cr. Investment in Equity Securities
XX
SALE
Gain:
Dr. Cash
XX
Cr. Investment in Equity Securities
Cr. Gain on sale of Securities
XX
XX
Dr. Cash
XX
Dr. Loss on sale of Securities
XX
Cr. Investment in Equity Securities
XX
Loss:
XX
Unrealized Loss:
Dr. Retained Earnings
Cr. Unrealized Loss
XX
XX
XX
NOTE:
1. ALWAYS TRANSFER RELATED UNREALIZED GAIN/LOSS to RETAINED EARNINGS AFTER SALE
RECLASSIFICATION
Reclassification Date is the first day of the reporting period following the change in business model
So, if the change in business model occur in 2012, the reclassification date is January 1, 2013
Year of change in business model DO THE USUAL ADJUSTMENS FOR THE RECOGNITION OF THE CHANGE IN FAIR VALUE
Reclassification Date:
Dr. Investment in bonds
Cr. Financial Assets at Fair Value
XX
XX
XX
XX
XX