VI Accounting for Securities/Investments
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1 . VI Accounting f Securities/Investments This chapter provides a unifm procedure to recd the accounting events associated with the purchase and sale of securities investments. These procedures may be used by any agency that has direct responsibility f the purchase and sale of securities investments. The following is a list of terms with the definitions as used in this chapter: Discount - When the purchase price of a security is less than the Face Value. The difference is called a Discount and recded in General Ledger Account (GLA) 2014-Discount on Securities. Interest Purchased - When a security is purchased between interest payment dates, a ption of the purchase price is to cover the interest earned by the seller as of the sale date. This is recded in GLA -Accrued Interest Receivable. It is liquidated when the interest payment f the entire period is received. Premium - When the purchase price of a security is me than the face value. The difference is called a Premium and recded in GLA -Premium on Securities. There are two GLAs available to recd the face value of securities: GLA 2011-Investment in Securities at Cost - Used when there is NO stated interest rate on the investment (example: Treasury Bills); and GLA 2012-Investment in Securities - Used f securities that have a stated interest rate. ACCOUNTING EVENTS Exhibit VI-1 lists the securities/investments accounting events, cresponding CALSTARS transaction codes and shows accounting events in the T-Account fmat. CALSTARS Procedure Manual Transmittal /29/2000 VI-1
2 EXHIBIT VI-1 Security Investment purchases: One me of the following entries must be made: 1 Recd Face Value of Security. TC S01 - Recd Face Value of Security Dr Investments in Securities at Cost Dr Investments in Securities Cr. Cash in State Treasury TC S02 - Claim Payment f Face Value of Security Dr Investments in Securities at Cost Dr Investments in Securities Cr Claims in Process 2 Recd Interest Purchased: TC S03 - Recd Interest Purchased Dr. Accrued Interest Receivable Cr. Cash in State Treasury TC S04 - Claim Payment f Interest Purchased Dr. Accrued Interest Receivable Cr Claims in Process 3 Recd Premium Paid f Security: TC S05 - Recd Premium Paid on Security Purchased Dr. Premium on Securities Cr. Cash in State Treasury TC S06 - Claim Payment f Premium on Security Dr. Premium on Securities Cr Claims in Process 4 Recd Discount received on Security: TC S07 - Recd Discount on Security Purchased Dr Investments in Securities at Cost Dr Investments in Securities Cr Discount on Securities If Discounted, recd the purchase price less Interest Purchased. If purchased f me than face value, recd the face value. Enter the applicable GLA f the Investment. Recd the ption of the purchase price related to interest earned by the seller as of the sale date. Recd the amount of the purchase price that exceeds the Face Value. (Purchase price less Face Value less Interest Purchased.) Recd the amount of the purchase price that is less than Face Value. (Face Value less purchase price less Interest Purchased.) Input the applicable GLA f Investment. CALSTARS Procedure Manual Transmittal /29/2000 VI-2
3 Transactions Recded During the Life of the Security: Examples are: recding interest earned, and amtization of discount premium against the security purchased. 5 Recd Interest Received that has not been accrued and is not part of Interest Purchased at time Security was acquired: TC Recd SCO Collection of Revenue (Not Billed) Dr. Cash in State Treasury TC Recd Cash Receipts as Revenue (Not Billed) Dr. General Cash 6 Recd Interest Received that has been accrued and is not part of Interest Purchased at time Security was acquired. TC Recd SCO Collection of A/R Operating Revenue Dr. Cash in State Treasury Cr. Accounts Receivable Operating Revenue TC Recd Cash Receipts f Operating Rev Prev Billed Dr. General Cash Cr. Accounts Receivable Operating Revenue 7 Recd Interest Received that is part of the Interest Purchased when the Security was acquired (Entry 2). TC S08 - Liquidate Interest Purchased - SCO Collection Dr. Cash in State Treasury Cr. Accrued Interest Receivable TC S09 - Liquidate Interest Purchased - Agency Collection Dr. General Cash Cr. Accrued Interest Receivable Balance of Interest received is recded as Revenue in Entry #6, above. If the agency receives the Interest payment directly, there must be special infmation on the Remittance Advice to ensure that the Cash is posted crectly. Year-End Entries (Adjusting Entry A-5): Year-end entries are as of June 30th. Additional entries may be recded during the year, and are posted to the same period as the SCO. The source of the entries are nmally SCO journal entries. Entry #11 is used f Year-end accruals only. 8 Recd Amtization of Premium: TC 549 A-5 Recd Amtization of Premium on Security Dr. Revenue Cr. Premium on Securities 9 Recd Accumulation of Discount: TC A-5 Recd Accumulation of Discount on Security Dr Discount on Securities CALSTARS Procedure Manual Transmittal /29/2000 VI-3
4 10 Recd Amtization of Interest purchased: TC A-5 Recd Amtization of Accrued Interest Purchased Dr. Revenue Cr. Accrued Interest Receivable 11 Recd Accrued Interest on Securities as of June 30: TC Recd Billing of A/R Operating Revenue Dr. Accounts Receivable Operating Revenue This entry is recded if the first interest payment has not been received and Entry #2 was recded at the time of purchase. This entry is f the amount of Accrued Interest Purchased at the time the security was acquired. Entry #11 must be made at the same time. This entry is f the full amount of interest from the last interest payment date of the security to June 30. Security Sales: When a security is sold, one me of the following entries must be recded: 12 Recd Sale of Securities - Face Value: TC S10 - Recd Sale of Security - SCO Collection Dr. Cash in State Treasury Cr Investments in Securities at Cost Cr Investments in Securities TC S11 - Recd Sale of Security - Agency Collection Dr. General Cash Cr Investments in Securities at Cost Cr Investments in Securities 13 Recd Sale of Securities - Interest Received: If Interest has NOT been accrued: TC Recd SCO Collection of Revenue (Not Billed) Dr. Cash in State Treasury TC Recd Cash Receipts as Revenue (Not Billed) Dr. General Cash If security was purchased at a Discount, then this entry is f the Face Value less Unaccumulated Discount. If security was purchased at a Premium, the entry is f the Face Value. If sold f a loss, the amount would be sales price less interest received less Unaccumulated Discount if applicable. Input applicable General Ledger f Investment. Recd the amount of cash received that is f interest earned as of the sale date. If sold befe the first interest payment AND recded Interest Purchased (Entry #2), TC S08 S09 must also be recded. If Interest has been accrued: TC Recd SCO Collection of A/R Operating Revenue Dr. Cash in State Treasury Cr. Accounts Receivable Operating Revenue TC Recd Cash Receipts f Operating Rev Prev Billed Dr. General Cash Cr. Accounts Receivable Operating Revenue CALSTARS Procedure Manual Transmittal /29/2000 VI-4
5 14 Liquidate Balance of Discount on Security When Sold TC S12 - Liquidate Discount on Security When Sold Dr Discount on Securities Cr Investments in Securities at Cost Cr Investments in Securities 15 Liquidate Balance of Premium on Securities When Sold: TC S13 - Liquid. Premium on Security When Sold - SCO Collect Dr. Cash in State Treasury Cr. Premium on Securities TC S14 - Liquid. Premium on Security When Sold-Agency Collct Dr. General Cash Cr. Premium on Securities 16 If Sale is f less than Face Value of security, recd Loss. This entry is f the amount of the Face Value of the security less sales price less Interest received. TC S15 - Recd Loss on Sale of Security - SCO Dr. Revenue Cr Investments in Securities at Cost Cr Investments in Securities 17 Recd Gain on Sale of Security. The entry is f the sales price less Face Value less Interest Received. TC S16 - Recd Gain on Sale of Security - SCO Collection Dr. Cash in State Treasury TC S17 - Recd Gain on Sale of Security - Agency Collection Dr. General Cash If security was purchased at a Discount, this entry is f the Discount balance. Input applicable General Ledger f Investment. If security was purchased at a Premium, this entry is f the Unamtized Premium balance. Enter the applicable GLA f the Investment. CALSTARS Procedure Manual Transmittal /29/2000 VI-5
6 T ACCOUNT EXAMPLE Transfer of cash to securities. Scenario: Face Value of Security $ Accrued Interest Receivable Discount on Purchase Cash purchase price Entry #1: To recd transfer of cash to investments: Dr $ Dr Cr $ Cr The following entries would be used to recd the above: #1 DR 2012, CR $ #2 DR, CR #4 DR 2012, CR Entry #2: To recd receipt of interest and to recd amtization to date: Dr. $ Dr Cr. $ Cr The following entries would be used to recd the above: #7 DR, CR $10.00 #9 DR 2014, CR #5 DR, CR Entry #3: To recd notification of sale at a profit: Dr. $ Dr Cr $ Cr The following entries would be used to recd the above: #12 DR, CR 2012 $ #14 DR 2014, CR #17 DR, CR CALSTARS Procedure Manual Transmittal /29/2000 VI-6
7 EVENT TC DR CR 1. Recd Face Value of Security; Claim Payment f Face Value of Security 2. Recd Interest Purchased; Claim Payment f Interest Purchased 3. Recd Premium Paid on Security Purchase; Claim Payment f Premium on Security S01 S02 S03 S04 S05 S06 * * Recd Discount on Security Purchase S07 * Recd SCO Collect of Revenue (Not Bill); Rec Cash Receipts as Revenue (Not Bill) 6. Rec SCO Collect of A/R Operating Revenue; Rec Cash Receipts f Operating Rev Prev Billed 7. Liquidate Interest Purchased-SCO Collect; Liquidate Interest Purchased-Agency Collect S08 S09 8. A-5 Rec Amtization of Premium on Security A-5 Rec Amtization of Discount on Security A-5 Rec Amtization of Interest Purchased Recd Billing of A/R Operating Revenue Recd Sale of Security - SCO Collect; Recd Sale of Security - Agency Collect 13. Rec SCO Collection of Revenue (Not Bill); Rec Cash Receipts as Revenue Not Billed; Rec SCO Collect of A/R Operating Revenue; Rec Cash Receipts f Operating Rev Prev Billed S10 S Liquidate Discount on Security When Sold S * 15. Liquidate Premium on Security When Sold-SCO; Liquidate Premium on Security When Sold-Agency S13 S Recd Loss on Sale of Security S15 * 17. Recd Gain on Sale of Security - SCO; Recd Gain on Sale of Security - Agency S16 S17 * * * Input General Ledger Account CALSTARS Procedure Manual Transmittal /29/2000 VI-7
8 T ACCOUNTS General Cash Cash in State Treasury A/R Operating Revenue Accrued Interest Receivable Invest in Securities at Cost 2012-Investments in Securities Premium on Securities Discount on Securities Claims in Process Revenue CALSTARS Procedure Manual Transmittal /29/2000 VI-8
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