Do anyone know where I can download copy of US GAAP and US GAAP APB?

Thanks Dessanti for your answer

Our position is less than 1%, we bought in the active market Euro a
little position to speculate in market price.

The IAS 39 don’t include equity investment as applicable financial
asset to recognized the gain or loss in foreign exchange in the
current period income statement, as its explain as follows:

Available-for-sale financial assets (AFS)…. … Fair value changes on
AFS assets are recognised directly in equity, through the statement of
changes in equity, except for interest on AFS assets (which is
recognised in income on an effective yield basis), impairment losses,
and (for interest-bearing AFS debt instruments) foreign exchange gains
or losses. ……..

However, the IAS 21 explain: Foreign Currency Transactions

A foreign currency transaction should be recorded initially at the
rate of exchange at the date of the transaction (use of averages is
permitted if they are a reasonable approximation of actual). [IAS

At each subsequent balance sheet date: [IAS 21.23]

Foreign currency monetary amounts should be reported using the closing rate.
Non-monetary items carried at historical cost should be reported using
the exchange rate at the date of the transaction.
Non-monetary items carried at fair value should be reported at the
rate that existed when the fair values were determined.

Exchange differences arising when monetary items are settled or when
monetary items are translated at rates different from those at which
they were translated when initially recognised or in previous
financial statements are reported in profit or loss in the period,
with one exception. [IAS 21.28] The exception is that exchange
differences arising on monetary items that form part of the reporting
entity’s net investment in a foreign operation are recognised, in the
consolidated financial statements that include the foreign operation,
in a separate component of equity; they will be recognised in profit
or loss on disposal of the net investment. [IAS 21.32]

If a gain or loss on a non-monetary item is recognised directly in
equity (for example, a property revaluation under IAS 16), any foreign
exchange component of that gain or loss is also recognised directly in
equity. [IAS 21.30]

We aren’t sure if IAS 21 applies to equity investment as AFS or equity
investment as a subsidiary participation or as part of foreign
operation, in that sense was focus our doubt.


The standard applicable to AFS is IAS 39 even if the investment is in
a currency other than your own reporting currency.

Despite the managerial intention, if the percentage of interest owned,
directly or indirectly, by your company is above the threshold
indicated by IAS 28, IAS 31 or IAS 27 (respectively 20%, 50% and above
50%), then the investment does not meet the criteria for a
classification in the category Available for Sale (AFS) and has to be

An exception is applicable if your company has already started a
process for its sale within twelve months and the outcome of the sale
is likely to be successful. In this circumstance, the applicable
standard is IFRS 5.

Best regards


Hi all,

We need some guidance in connection to apply the rules explained in
IAS 21 related to if investments AFS in capital instruments is a
non-monetary item.

Theses equity investments were made without the intention of take
control on any company, just receipt the dividends and sale it in a
high level.


You will have to pay for the full versions of the US GAAP although
FASB does provide good summaries gratis. Right now the FASB is working
on a codification project for US GAAP and one can sign up and get the
full US GAAP for the rest of the year.( Note that codification is
still experimental)

I put the reference to this in my blog in June

Hai. You can download it from



Pay? If you want to have it all in a neat CD Rom yes you are right but
here we go free of chargeFree Download FASB Pronouncements—Statements, Concepts Statements,
Interpretations, and Technical Bulletins, and individual EITF
Abstracts—Adobe PDF Files Pronouncements and
EITF AbstractsStatements of Financial Accounting Standards
Statements of Financial Accounting Concepts
FASB Interpretations
FASB Staff Positions
FASB Technical Bulletins
EITF Abstracts