Dealing with three different standards on investments

There are now 3 separate standards governing how business, not-for-profit, and governmental organizations accounts for investments: 1. SFAS 115, Accounting for Certain Investments in Debt and Equity Securities, 2. SFAS 124, Accounting for Certain Investments Held by Not-for-Profit Organizations, and 3. SGAS 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools. There are several major differences among the 3 standards on investments. One of the most significant differences concerns investments that may be reported at amortized costs. Another major difference is how investments earnings, including changes in fair value, are to be reported for the 3 types of organizations. There are also important differences among the 3 standards with respect to required financial statement disclosures.