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Basic Question 10 of 10
Concerning changes to the classification of its investment portfolio from held-to-maturity to available-for-sale (under U.S. GAAP):
B. The securities must be marked to market on the date of transfer.
C. Securities continue to be reported at cost as they were previously.
A. Companies cannot change the classification once it is selection.
B. The securities must be marked to market on the date of transfer.
C. Securities continue to be reported at cost as they were previously.
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
describe the classification, measurement, and disclosure under International Financial Reporting Standards (IFRS) for 1) investments in financial assets, 2) investments in associates, 3) joint ventures, 4) business combinations, and 5) special purpose and variable interest entities;
distinguish between IFRS and US GAAP in their classification, measurement, and disclosure of investments in financial assets, investments in associates, joint ventures, business combinations, and special purpose and variable interest entities;
analyze how different methods used to account for intercorporate investments affect financial statements and ratios.
CFA® 2025 Level II Curriculum, Volume 2, Module 10.