Write a 350- to 700-word response for each of the following cases answering the questions located at the end of each case. Case 1-1 Generally Accepted Accounting Principles on page 28) Case 1-3 Politicization of Accounting Standards (page 28) Case 2-2 The Theoretical Foundation of Accounting Principles (page 75) Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. ----------------------------------------------ACC 497 Week 3 Accounting for Investments
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Review the following case study: FASB ASC 320 requires companies to assign their portfolio of investment securities into: • Trading securities. • Securities available for sale. • Held-to-maturity securities. Write a response of no more than 1,500 words in which you answer the following: • Define each of these categories of securities and discuss the accounting treatment for each category. • Discuss how companies are required to assign each category of securities into its current and noncurrent portions.