# ASC 210-940: Balance Sheet — Financial Services—Brokers and Dealers

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/210/940/)

Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.

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## ASC 210-940: Balance Sheet — Financial Services—Brokers and Dealers

### Machine-generated study aids

```json
{
  "summary": "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": [
    "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."
  ],
  "categories": [
    "Presentation",
    "Financial statement presentation",
    "Industry-specific",
    "Financial instruments"
  ],
  "audience_level": "intermediate",
  "student_note": "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.",
  "related_topics": [
    "210-20",
    "940-10",
    "940-320",
    "815-10",
    "860"
  ],
  "key_concepts": [
    "offsetting",
    "right of setoff",
    "balance sheet presentation",
    "brokers and dealers",
    "net presentation",
    "combining of amounts"
  ]
}
```

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## ASC 210-940-00: 00 Status

[Read section](https://asc.understandingaccounting.org/asc/210/940/#00-status)

SEC content: no

##### [210-940-00-1](https://asc.understandingaccounting.org/asc/210/940/#210-940-00-1)

Pending content: no

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The following table identifies the changes made to this Subtopic.

<table class="asc-table" id="SL117341841-227657"><tbody><tr><td class="entry"><strong class="ph b">Paragraph</strong></td><td class="entry"><strong class="ph b">Action</strong></td><td class="entry"><strong class="ph b">Accounting Standards Update</strong></td><td class="entry"><strong class="ph b">Date</strong></td></tr><tr><td class="entry"></td><td class="entry"></td><td class="entry"></td><td class="entry"></td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/210/940/#210-940-05-1" class="xref">940-210-05-1</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2018-09/" class="xref">Accounting Standards Update No. 2018-09</a></td><td class="entry">07/16/2018</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/210/940/#210-940-15-1" class="xref">940-210-15-1</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2018-09/" class="xref">Accounting Standards Update No. 2018-09</a></td><td class="entry">07/16/2018</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/210/940/#210-940-45-1" class="xref">940-210-45-1</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2018-09/" class="xref">Accounting Standards Update No. 2018-09</a></td><td class="entry">07/16/2018</td></tr></tbody></table>

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## ASC 210-940-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/210/940/#05-overview-and-background)

SEC content: no

##### [210-940-05-1](https://asc.understandingaccounting.org/asc/210/940/#210-940-05-1)

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This Subtopic provides guidance on the offsetting and combining of amounts in the balance sheet of brokers and dealers.

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## ASC 210-940-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/210/940/#15-scope-and-scope-exceptions)

SEC content: no

##### [210-940-15-1](https://asc.understandingaccounting.org/asc/210/940/#210-940-15-1)

Pending content: no

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

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## ASC 210-940-45: 45 Other Presentation Matters

[Read section](https://asc.understandingaccounting.org/asc/210/940/#45-other-presentation-matters)

SEC content: no

##### [210-940-45-1](https://asc.understandingaccounting.org/asc/210/940/#210-940-45-1)

Pending content: no

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