Q & A Database
The GIPS Standards Q&A database contains questions and answers (Q&As) on various searchable topics that provide additional interpretation on an issue. Q&As are considered to be authoritative guidance and must be followed in order to claim compliance with the GIPS standards.
Content from prior Q&As was included in the GIPS Standards Handbook as much as possible and many Q&As were archived. Change the Status drop-down filter to "Archived" to see the archived Q&As.
The GIPS Standards Helpdesk is available for individual questions and typically responds to inquiries within 3 business days.
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Archived
Effective: 1 January, 2006 - 31 December, 2019Categories: Firm AssetsSource: Guidance Statement on Definition of the FirmAccording to this Guidance Statement, “Assets to which the Standards cannot be applied are not to be considered by firms when claiming compliance and are not to be included in total firm assets. Such assets include investment vehicles that are based on cost or book values rather market values.” Does this mean that cash substitutes, such as CDs and money market funds held in portfolios, are not to be considered by firms when claiming compliance and are not to be included in total firm assets?
Money market funds, CDs and other cash substitutes ARE to be considered by firms when claiming compliance and are to be included in total firm assets. A market value for these assets can be determined.