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Question - Accounting for Investments - Textbook: Financial Accounting Theory and Analysis Text & Cases 13th Ed. Schroeder, R.G., Clark, M.W., Cathey, J.M.
On January 5, 2016, the FASB issued Accounting Standards Update 2016-01. "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities."
a. Summarize the accounting requirements to accounting for investments in securities that were in existence prior to the release of ASU 2016-01.
b. How did ASU 2016-01 change those requirements?
c. How did ASU 2016-01 impact accounting for investments in debt securities.
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