Accruals and valuation adjustments
In some cases valuation adjustments entries are required for assets. For example, trading securities are always recorded at their current market value, which can change from time to time.
- If the value of an asset has increased, then there should be a gain on the income statement or an increase to other comprehensive income.
- If the value of an asset has decreased, then there should be a loss on the income statement or a decrease to other comprehensive income.
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