By ALICIA TUOVILA

Reviewed by MARGARET JAMES

Fact checked by KATRINA MUNICHIELLO

编写人：ALICIA TUOVILA

审核人：MARGARET JAMES

事实核查人：KATRINA MUNICHIELLO

What Is an Available-for-Sale Security?

什么是可供出售金融资产？

An available-for-sale security (AFS) is a debt or equity security purchased with the intent of selling before it reaches maturity, or holding for a long period of time should it not have a maturity date.

可供出售金融资产是投资者购买后有意在到期前出售或（在没有到期日的情况下）长期持有的债务证券或权益证券。

Accounting standards require companies to classify any investments in debt or equity securities when they are purchased as available-for-sale, held-to-maturity, or held-for-trading securities.

会计准则规定，公司必须在购买债务证券或权益证券时将其归类为可供出售金融资产、持有至到期证券或交易性金融资产。

AFS securities are reported at fair value; changes in value between accounting periods are included in the "accumulated other comprehensive income" component of the equity section of the balance sheet.

可供出售金融资产按公允价值列报，会计期间之间的价值变动计入资产负债表权益部分的“累计其他综合收益”项目。

KEY TAKEAWAYS

关键要点

·Available-for-sale securities (AFS) are debt or equity securities purchased with the intent of selling before they reach maturity.

可供出售金融资产是投资者购买后有意在到期前出售的债务证券或权益证券。

·AFS securities are reported at fair value.

可供出售金融资产按公允价值列报。

·Unrealized gains and losses are included in accumulated other comprehensive income within the equity section of the balance sheet.

未实现损益计入资产负债表权益部分的“累计其他综合收益”项目。

·Investments in debt or equity securities purchased must be classified as held-to-maturity, held-for-trading, or available-for-sale.

必须在购买债务证券或权益证券时将其归类为持有至到期证券、交易性金融资产或可供出售金融资产。

How an Available-for-Sale Security Works

了解可供出售金融资产

AFS is an accounting term used to describe and classify financial assets. It refers to a debt or equity security not classified as a held-for-trading or held-to-maturity security (the two other kinds of financial assets). AFS securities are nonstrategic and usually have a ready market price available.

可供出售金融资产是描述和归类金融资产的会计术语，指不属于交易性金融资产或持有至到期证券（另外两种金融资产）的债务证券或权益证券，具有非策略属性，现有市场价格通常可用。

The unrealized gains and losses derived from an AFS security are not reflected in net income (unlike those from trading investments). Instead, they appear in the other comprehensive income (OCI) classification until they are sold. 

可供出售金融资产的未实现损益不在净利润中反映（这一点与交易性金融资产的未实现损益不同），而是在出售之前计入其他综合收益。

AFS Values Appear on the Balance Sheet

在资产负债表列报可供出售金融资产

Net income is reported on the income statement. Therefore, unrealized gains and losses on AFS securities are not shown on the income statement.

净利润是在损益表中列示，因此，可供出售金融资产的未实现损益不计入损益表。

Net income is accumulated over multiple accounting periods into retained earnings on the balance sheet. OCI, which includes unrealized gains and losses from AFS securities, is rolled into "accumulated other comprehensive income" on the balance sheet at the end of the accounting period.

净利润在多个会计期间累计计入资产负债表上的留存收益。其他综合收益，包括可供出售金融资产的未实现损益在内，在会计期末计入资产负债表上的“累计其他综合收益”项目。

Accumulated other comprehensive income is reported just below retained earnings in the equity section of the balance sheet.

累计其他综合收益在资产负债表权益部分的留存收益下方。

Fast Fact: Changes in value of AFS securities can impact the value of regulatory capital that large banks are required to hold, according to accounting regulations.

信息速查：依据会计规定，可供出售金融资产的价值变动会影响大型银行必须持有的监管资本价值。

Available-for-Sale vs. Held-for-Trading vs. Held-to-Maturity Securities

可供出售金融资产vs.交易性金融资产vs.持有至到期证券

As mentioned above, there are three classifications of securities: available-for-sale, held-for-trading, and held-to-maturity securities.

如上所述，证券可以分为三类，即可供出售金融资产、交易性金融资产和持有至到期证券。

HFTs and HTMs

交易性金融资产和持有至到期证券

Held-for-trading securities are purchased and held primarily for sale in the short term. The purpose is to make a profit from the quick trade rather than the long-term investment. 

交易性金融资产主要是为短期内出售而购买和持有的，就是从快速交易中获利，并非长期投资。

On the other end of the spectrum are held-to-maturity securities. These are debt instruments or equities that a firm plans on holding until their maturity dates. An example would be a certificate of deposit (CD) with a set maturity date.

另一个是持有至到期证券，即公司计划持有至到期日的债务工具或权益工具，比如有明确到期日的存单。

AFS is the catch-all category that falls in the middle. It is inclusive of securities, both debt and equity, that the company plans to hold for a while (though not until maturity) but could also sell more quickly.

可供出售金融资产是一个比较宽泛的类别，包括公司计划持有一段时间（虽然不会等到到期）但会迅速出售的债务证券和权益证券。

Difference in Reporting

报告差异

From an accounting perspective, each of these categories is treated differently and affects whether gains or losses appear on the balance sheet or income statement. The accounting for AFS securities is similar to the accounting for trading securities.

从会计角度来看，每个类别的处理方式不同，会影响损益是在资产负债表还是损益表列示。可供出售金融资产的会计处理与交易性金融资产类似。

Due to the short-term nature of the investments, they are recorded at fair value. However, the unrealized gains or losses to the fair market value for trading securities are recorded in operating income and appear on the income statement. 

两种投资均具有短期性质，按公允价值列报。但是，交易性金融资产公允价值的未实现损益计入损益表的营业收入部分。

As noted, changes in the value of AFS securities are recorded as unrealized gains or losses in the OCI category. Some companies include OCI information below the income statement, while others provide a separate schedule detailing what is included in total comprehensive income.

如前所述，可供出售金融资产的价值变动记为其他综合收益中的未实现损益。一些公司选择在损益表下方提供其他综合收益相关信息，而另一些公司则选择另外附上附表，详细说明综合收益总额包含的内容。

Recording an Available-for-Sale Security Transaction 

可供出售金融资产交易记录

If a company purchases AFS securities with cash for $100,000, it records a credit to cash and a debit to AFS securities for $100,000. If the value of the securities declines to $50,000 by the next reporting period, the investment must be "written down" to reflect the change in the fair market value of the security.

一家公司用现金购买了100,000美元的可供出售金融资产，应贷记现金，借记100,000美元的可供出售金融资产。若下一个报告期可供出售金融资产价值降至50,000美元，应“减记”投资，以反映可供出售金融资产公允市值变动。

This decrease in value is recorded as a credit of $50,000 to the AFS security and a debit to OCI.

针对上述减值，应贷记50,000美元的可供出售金融资产，借记其他综合收益。

Likewise, if the investment goes up in value the next month, it is recorded as an increase in OCI. The security does not need to be sold for the change in value to be recognized in OCI. It is for this reason these gains and losses are considered unrealized until the securities are sold.

同样，若下个月投资升值，应记为其他综合收益增长。无需出售可供出售金融资产即可在其他综合收益中确认价值变动。正是基于这个原因，损益在可供出售金融资产出售之前被视为未实现损益。

Is Available-for-Sale a Current Asset?

可供出售金融资产是否属于流动资产？

Available-for-sale securities can be classified as current assets if they are held for less than one year, which is the definition of a current asset. If they are to be held for more than a year, then they have to be classified as a long-term asset.

可供出售金融资产持有时间少于一年的，可归类为流动资产；若超过一年，必须归为长期资产。

What Is the Difference Between Held-to-Maturity and Available-for-Sale?

持有至到期证券与可供出售金融资产存在哪些差异？

Both held-to-maturity and available-for-sale are methods of recording investment securities held by a company. HTM securities are held until they mature. AFS securities are sold before they mature. The former is recorded at cost minus impairment, the latter is recorded at fair value.

持有至到期和可供出售是记录公司持有投资证券的两种方法。持有至到期证券是一经购买持有至到期，可供出售金融资产是在到期前出售。前者按成本减去减值准备列报，后者按公允价值列报。

The Bottom Line

总结

When a company purchases an investment security, whether that be equity or debt, it must be classified in one of three ways per accounting standards: held-to-maturity, held-for-trading, or available-for-sale.

公司购买投资证券时，无论是权益证券还是债务证券，必须依据会计准则将其归为以下三类中的一种：持有至到期证券、交易性金融资产或可供出售金融资产。

An available-for-sale security is one that is sold before it reaches maturity. Any unrealized gains or losses on the security must be recorded as accumulated comprehensive income until it is sold.

可供出售金融资产是在到期前出售，在出售前，任何未实现损益必须计入累计综合收益。