I want to understand how the Free of Payment(FOP) trades work from accounting point of view. My questions are:
What data we collect while capturing FOP trade?
How it impacts NAV and P&L? e.g. say my current NAV is 100 and P&L is 100 as well, I received 10 stocks on AAPL US as FOP, at the time of receive it's market price was 1000 USD, So just after adding FOP, how NAV and P&L will be affected.
Thanks for any help. I will have follow-up questions as well.