What classification of security under U.S. GAAP is most similar to the IFRS classification, financial assets measured at fair value through other comprehensive income (FVTOCI)?
A) Available for sale (AFS)
B) Held-to-maturity (HTM)
C) Trading
D) None of the above
E) The amount reclassified

Question

Quizplus · Accepted Answer

Available for Sale (AFS) securities under U.S. GAAP are most similar to the IFRS classification of financial assets measured at fair value through other comprehensive income (FVTOCI). Both classifications involve recording unrealized gains or losses in other comprehensive income until the security is sold or otherwise disposed of.

What Classification of Security Under U