ASC

ASC 210-940

Financial Services—Brokers and Dealers

210 Balance Sheet

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In brief

IntermediatePresentationFinancial statement presentationIndustry-specificFinancial instruments

ASC 210-940 addresses how brokers and dealers offset and combine amounts presented in the balance sheet. It contains no independent offsetting rules; it simply directs preparers to the general offsetting guidance in Section 210-20-45 and adopts the scope of the Financial Services—Brokers and Dealers Overall Subtopic (940-10-15).

Key points (4)
  • The Subtopic's stated purpose is guidance on the offsetting and combining of amounts in the balance sheet of brokers and dealers (210-940-05-1).
  • Its scope is identical to that of the broker-dealer Overall Subtopic, Section 940-10-15 (210-940-15-1).
  • For the actual offsetting criteria, the Subtopic cross-references Section 210-20-45 rather than stating separate broker-dealer rules (210-940-45-1).
  • Because the guidance is a pointer, a broker-dealer must satisfy the general right-of-setoff conditions in 210-20-45 (and any repo/reverse-repo or derivative exceptions there) to present amounts net.

For students. This subtopic is essentially a signpost—students who expect special broker-dealer netting rules here will be disappointed; the substantive conditions for offsetting (including the repurchase agreement and master netting arrangement exceptions) live in 210-20-45.

offsettingright of setoffbalance sheet presentationbrokers and dealersnet presentationcombining of amounts

Machine-generated study aid for ASC 210-940. Check the source paragraphs below.

210-940-00Status

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210-940-00-1
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
940-210-05-1AddedAccounting Standards Update No. 2018-0907/16/2018
940-210-15-1AddedAccounting Standards Update No. 2018-0907/16/2018
940-210-45-1AddedAccounting Standards Update No. 2018-0907/16/2018

210-940-05Overview and Background

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210-940-05-1
This Subtopic provides guidance on the offsetting and combining of amounts in the balance sheet of brokers and dealers.

210-940-15Scope and Scope Exceptions

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210-940-15-1
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic; see Section 940-10-15.

210-940-45Other Presentation Matters

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210-940-45-1
See Section 210-20-45 for guidance on offsetting.

Related subtopics