This excerpt taken from the VNDA 10-K filed Mar 16, 2007.
The Company classifies all of its short-term investments as available-for-sale securities. The Companys investment policy requires the selection of high-quality issuers, with bond ratings of AAA to A1+/P1. These available-for-sale securities are accounted for at their fair market value and unrealized gains and losses on these securities, if any, are included in accumulated other comprehensive loss in stockholders equity. Interest and dividend income is recorded when earned and included in interest income. Premiums and discounts on short-term investments are amortized and accreted, respectively, to maturity and included in interest income. The Company uses the specific identification method in computing realized gains and losses on the sale of investments, which would be included in the consolidated statements of operations when generated.
The following is a summary of the Companys available-for-sale short-term investments as of December 31, 2005:
The following is a summary of the Companys available-for-sale short-term investments as of December 31, 2006: