Statements of Position

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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.

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

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