FASB statement No.115Let’s maximize profits through FASB statement NO. 115Fasb statement no. 115 is another example of the boards
emphasis on the balance sheet as contrasted with the income statement .As treasurer of diamond instrument , you desire to maximize
income over the short run .Diamond has had excess cash , and you have chosen to invest
it in both marketable debt and equity securities.What classification policy could you follow to maximize your
investments impact on net income?
How would you justify this policy to your auditors?