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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.
Bank investments -- United States -- Accounting; Banks and banking -- United States -- Finance -- Accounting
Accounting | Taxation
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" (1983). Statements of Position. 458.