Proposed statement of position : reporting by banks of investment securities gains or losses;Reporting by banks of investment securities gains or losses; Exposure draft (American Institute of Certified Public Accountants), 1983, Apr. 22

Authors

American Institute of Certified Public Accountants. Banking Committee

Files

Description

This statement of position provides guidance for bank reporting of investment securities gains or losses in the income statement. The AICPA Banking Committee recommends the following: (1) Net investment securities gains or losses should be presentd on a separate line, on a pretax basis, in the "other income" section of a bank's income statement. If not material, they may be included in "other income." (2) Prior periods' interim and annual financial statements should be restated to conform with the one-step format. (3) If significant to an understanding of the revised reporting format, the tax effect of securities gains or losses should be disclosed in a note to the financial statements.

Publication Date

1983

Relational Format

Book

Keywords

Bank investments -- United States -- Accounting; Banks and banking -- United States -- Finance -- Accounting

Disciplines

Accounting | Taxation

Comments

Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.

Recommended Citation

American Institute of Certified Public Accountants. Banking Committee, "Proposed statement of position : reporting by banks of investment securities gains or losses;Reporting by banks of investment securities gains or losses; Exposure draft (American Institute of Certified Public Accountants), 1983, Apr. 22" (1983). Exposure Drafts, Comment Letters, and Statements of Position. 458.
https://egrove.olemiss.edu/aicpa_sop/458