Unformatted text preview: under long-term assets. The earned Interest revenue is recognized as a part of other revenues. However, accounting for CDs is simple because it is not necessary to amortize any premiums or discounts as most CDs are purchased at face value. I believe this chapter would be very beneficial in the future because the majority of for-profit companies do participate in trading stocks, bonds, and other securities. In my opinion what we have learned in chapter 17 in regards to proper reporting, recording, and valuation of investments is the necessary basis of investment management. The different methods of reporting and valuation all have their uses which are to accurately representing company’s condition. Obviously the selection of which method to utilize for each financial instrument is also very important....
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- general ledger accountant, CA Civil Code, CA Civil, Money Market accounts.