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FAR > Concepts CH 5 > Flashcards

Concepts CH 5 Flashcards

1
Q

Control in another entity < 20%

A

Fair Value

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2
Q

Control between 20% and 50%

A

Equity Method or FVO control considered significant

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3
Q

Control > 50%

A

Consolidated FS

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4
Q

Measure of Securities - Equity

A

Unrealized Hold gain in Income statement

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5
Q

Measure of Securities - HTM

A

Measured at amortized cost w/ NO G/L reported

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6
Q

Measure of Securities - Trading Securities

A

FV thru net income (unrealized)

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7
Q

Measure of Securities - AFS

A

FV through OCI (unrealized), realized in income statement

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8
Q

Equity Method Goodwill

A

Not separately stated included in carrying amount of investment

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9
Q

Equity Method - Share of Income

A

Increases investment

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10
Q

Equity Method - Share of Dividends

A

Reduces Investment

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11
Q

Disclosures - Equity Investment

A

1) names and company’s % ownership each investment
2) Difference if any of carrying amount of investment and underlying asset
3) Accounting method applied to the difference

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12
Q

AFS to HTM

A

amortization of unrealized holding gain or loss at transfer

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13
Q

Leases

A

Not eligible for FVO

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14
Q

Application of FV measure should be on

A

instrument by instrument basis

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15
Q

Accrued interest paid

A

does not affect carrying amount of bond

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16
Q

IFRS when significant influence is lost

A

any retained investment is measured at FV

17
Q

Transfer Trading Securities to any other - Unrealized Holding Gain/Loss

A

Is not reversed

18
Q

Trading Securities

A

To be sold in the near term

19
Q

Available for Sale

A

To sell in the future not near term

20
Q

Total interest revenue over term of bond

A

(Annual Interest x Term) + Discount

(Annual Interest x Term) - Premium

21
Q

Restricted Cash

A

Assets set aside for retirement of LT Debt should be presented separately

FAR (22 decks)

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