Please help me formulate a response. ‘ ?Thanks for the great response! As a current bookkeeper getting my
Please help me formulate a response.
" Thanks for the great response! As a current bookkeeper getting my CPA licensure I find that many bookkeeper's do not follow the differences in accounting you mention. For many I find the unrealized gains and losses listed under the security in the asset section. Also, many do not amortize their held-to-maturity securities. Typically, I find them all entered at purchase price with no changes made over the life of the security until it is sold and even then they simply enter the interest on the income statement. This is why I love accounting – the nuances and variances that keep it fun."
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