tailieunhanh - board of investment_part2

Kế toán đối với cổ phiếu và chứng khoán trái phiếu được dựa trên ngày giao dịch ", có nghĩa là việc bán hoặc mua chứng khoán được ghi nhận vào ngày giao dịch, chứ không phải là ngày" giải quyết " | A-5 STATE OF MONTANA BOARD OF INVESTMENTS CONSOLIDATED UNIFIED INVESTMENT PROGRAM FINANICAL STATEMENT Accounting for stock and bond securities is based on the trade date which means the sale or purchase of a security is recorded on the trade date rather than the settlement date. This generally accepted practice results in a purchased security included in the investment portfolio on the trade date even though payment will not occur until the settlement date. Conversely a sold security will be eliminated from the investment portfolio on the trade date even though the sale proceeds will not be received until the settlement date. This delayed timing requires that receivables and payables for securities sold purchased but not yet settled must be reported in the financial statement and calculated in the Net Asset Value. Private equity and real estate investments are included in the portfolio when funds are wired. Currency exposures may be hedged partially or fully at the discretion of the manager to preserve the . dollar value of investments made. Currency speculation such as over-hedging reverse hedging or other trading activity not specifically aimed at preserving the . dollar value of investments is not authorized. B. Pool Net Asset Value Investments Managed - The Pool Net Asset Value NAV must be calculated accurately to ensure participants are paying or receiving a fair price when units are purchased and sold. The NAV must include not only the fair value of the investment portfolio except for STIP at book value but any liabilities payable by the Pool and receivables due the Pool on the NAV calculation date. Investment accounting uses the accrual basis which means bond interest due is recorded when earned rather than when cash is received. Interest due is recorded as a receivable asset and included in the NAV on the date of the calculation. Dividends are recorded as of ex-dividend date. Income due to Pool participants is recorded on the date due to the .