{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/210/","source":"FASB Accounting Standards Codification, Basic View","usage":"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.","number":"210","title":"Balance Sheet","area":"Presentation","group":null,"subtopics":[{"number":"210-10","topic":"210","title":"Overall","area":"Presentation","paragraphs":49,"summary":"ASC 210-10 provides the general guidance for classifying assets and liabilities as current or noncurrent on a classified balance sheet (statement of financial position), permitting ready determination of working capital. Current assets are cash and other resources expected to be realized in cash or consumed within one year or the operating cycle, whichever is longer; current liabilities are obligations whose liquidation is expected to require use of current assets within that same period. The guidance applies to all entities, but only when an entity chooses to present a classified balance sheet (210-10-15-3).","concepts":["classified balance sheet","current assets","current liabilities","working capital","operating cycle","one-year rule","prepaid expenses","valuation allowance"],"categories":["Presentation","Financial statement presentation","Disclosure"],"level":"introductory","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-10-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
210-10-45-1AmendedAccounting Standards Update No. 2016-0101/05/2016
210-10-45-2AmendedAccounting Standards Update No. 2012-0410/01/2012
210-10-45-10AmendedAccounting Standards Update No. 2012-0410/01/2012
210-10-45-13AmendedAccounting Standards Update No. 2016-1306/16/2016
210-10-45-13AddedAccounting Standards Update No. 2012-0410/01/2012
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The Balance Sheet Topic includes the following two Subtopics:
  1. a
    Overall
  2. b
    Offsetting.
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The balance sheet is commonly referred to as statement of financial position. For purposes of the Codification, both titles are interchangeable.
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The Offsetting Subtopic provides guidance about offsetting amounts for certain contracts and repurchase and reverse repurchase agreements.
","snippet":"The Offsetting Subtopic provides guidance about offsetting amounts for certain contracts and repurchase and reverse repurchase agreements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bb6113de781e44584c210e7a62de6e0a12619eb68050f0025cb1e7d96ff18bd5","downloaded_from":"2026-09-09T22:58:22.180Z","last_downloaded_at":"2026-09-09T22:58:22.180Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483494","source_sha256":"a0e2b5d1f3625800957d19a3852aaaef428f111ac51456f50f7d15610156948d"}},{"citation":"210-10-05-4","para":"05-4","html":"
The Overall Subtopic provides general guidance on the classification of current assets and current liabilities and discusses the determination of working capital. The balance sheets of most entities show separate classifications of current assets and current liabilities (commonly referred to as classified balance sheets) permitting ready determination of working capital.
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Financial position, as it is reflected by the records and accounts from which the statement is prepared, is revealed in a presentation of the assets and liabilities of the entity. In the statements of manufacturing, trading, and service entities, these assets and liabilities are generally classified and segregated; if they are classified logically, summations or totals of the current or circulating or working assets (referred to as current assets) and of obligations currently payable (designated as current liabilities) will permit the ready determination of working capital.
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The ordinary operations of an entity involve a circulation of capital within the current asset group. Cash is expended for materials, finished parts, operating supplies, labor, and other factory services, and such expenditures are accumulated as inventory cost. Inventory costs, upon sale of the products to which such costs attach, are converted into trade receivables and ultimately into cash again.
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In addition to the classification guidance provided in this Subtopic, other Topics in the Codification also address specific classification matters.
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The guidance in this Subtopic applies to all entities.
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The guidance in this Subtopic that relates to separate classification of current assets and current liabilities (that is, a classified balance sheet) applies only when an entity is preparing a classified balance sheet for financial accounting and reporting purposes.
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Current assets generally include all of the following:
  1. a
    Cash available for current operations and items that are cash equivalents
  2. b
    Inventories of merchandise, raw materials, goods in process, finished goods, operating supplies, and ordinary maintenance material and parts
  3. c
    Trade accounts, notes, and acceptances receivable
  4. d
    Receivables from officers, employees, affiliates, and others, if collectible in the ordinary course of business within a year
  5. e
    Installment or deferred accounts and notes receivable if they conform generally to normal trade practices and terms within the business
  6. f
    Marketable securities representing the investment of cash available for current operations
  7. g
    Prepaid expenses such as the following:
    1. 1
      Insurance
    2. 2
      Interest
    3. 3
      Rents
    4. 4
      Taxes
    5. 5
      Unused royalties
    6. 6
      Current paid advertising service not yet received
    7. 7
      Operating supplies.
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Prepaid expenses are not current assets in the sense that they will be converted into cash but in the sense that, if not paid in advance, they would require the use of current assets during the operating cycle. An asset representing the overfunded status of a single-employer defined benefit pension or postretirement plan shall be classified pursuant to Section 715-20-45.
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A one-year time period shall be used as a basis for the segregation of current assets in cases where there are several operating cycles occurring within a year. However, if the period of the operating cycle is more than 12 months, as in, for instance, the tobacco, distillery, and lumber businesses, the longer period shall be used. If a particular entity has no clearly defined operating cycle, the one-year rule shall govern.
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The concept of the nature of current assets contemplates the exclusion from that classification of such resources as the following:
  1. a
    Cash and claims to cash that are restricted as to withdrawal or use for other than current operations, are designated for expenditure in the acquisition or construction of noncurrent assets, or are segregated for the liquidation of long-term debts. Even though not actually set aside in special accounts, funds that are clearly to be used in the near future for the liquidation of long-term debts, payments to sinking funds, or for similar purposes shall also, under this concept, be excluded from current assets. However, if such funds are considered to offset maturing debt that has properly been set up as a current liability, they may be included within the current asset classification.
  2. b
    Investments in securities (whether marketable or not) or advances that have been made for the purposes of control, affiliation, or other continuing business advantage.
  3. c
    Receivables arising from unusual transactions (such as the sale of capital assets, or loans or advances to affiliates, officers, or employees) that are not expected to be collected within 12 months.
  4. d
    Cash surrender value of life insurance policies.
  5. e
    Land and other natural resources.
  6. f
    Depreciable assets.
  7. g
    Long-term prepayments that are fairly chargeable to the operations of several years, or deferred charges such as bonus payments under a long-term lease, costs of rearrangement of factory layout or removal to a new location.
","snippet":"The concept of the nature of current assets contemplates the exclusion from that classification of such resources as the following:\n(a) Cash and claims to cash that are restricted as to withdrawal or use for other than c…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e263859844941f6a96d011ce3671e48f919e34345896e8cbec564f97f93f848","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:48b7b48d56b8f8e0513d7dfbd0efc944daca4aa1728806346b2733a59c598665","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"block":null,"heading":"Classification of Current Liabilities","paragraphs":[{"citation":"210-10-45-5","para":"45-5","html":"
A total of current liabilities shall be presented in classified balance sheets.
","snippet":"A total of current liabilities shall be presented in classified balance sheets.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fb665ca145ddd335247e2722bf23ce0eb90a016d593460e5059a4123cada7736","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"citation":"210-10-45-6","para":"45-6","html":"
The concept of current liabilities includes estimated or accrued amounts that are expected to be required to cover expenditures within the year for known obligations the amount of which can be determined only approximately (as in the case of provisions for accruing bonus payments) or where the specific person or persons to whom payment will be made cannot as yet be designated (as in the case of estimated costs to be incurred in connection with guaranteed servicing or repair of products already sold).
","snippet":"The concept of current liabilities includes estimated or accrued amounts that are expected to be required to cover expenditures within the year for known obligations the amount of which can be determined only approximate…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:906f6de9c77cb45821038bff965064a6cd87e28176dad57a4e5679b179dbd767","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"citation":"210-10-45-7","para":"45-7","html":"
Section 470-10-45 includes guidance on various debt transactions that may result in current liability classification. These transactions are the following:
  1. a
    Due on demand loan agreements
  2. b
    Callable debt agreements
  3. c
    Short-term obligations expected to be refinanced.
","snippet":"Section 470-10-45 includes guidance on various debt transactions that may result in current liability classification. These transactions are the following:\n(a) Due on demand loan agreements\n(b) Callable debt agreements\n(…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c87f0719b958fa789ebc39335fe5213ddb96d950c4db0c4cf4bf6e3be0d822e6","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"citation":"210-10-45-8","para":"45-8","html":"
As a balance sheet category, the classification of current liabilities generally includes obligations for items that have entered into the operating cycle, such as the following:
  1. a
    Payables incurred in the acquisition of materials and supplies to be used in the production of goods or in providing services to be offered for sale.
  2. b
    Collections received in advance of the delivery of goods or performance of services. Examples of such current liabilities are obligations resulting from advance collections on ticket sales, which will normally be liquidated in the ordinary course of business by the delivery of services. On the contrary, obligations representing long-term deferments of the delivery of goods or services would not be shown as current liabilities. Examples of the latter are the issuance of a long-term warranty or the advance receipt by a lessor of rental for the final period of a 10 year lease as a condition to execution of the lease agreement.
  3. c
    Debts that arise from operations directly related to the operating cycle, such as accruals for wages, salaries, commissions, rentals, royalties, and income and other taxes.
","snippet":"As a balance sheet category, the classification of current liabilities generally includes obligations for items that have entered into the operating cycle, such as the following:\n(a) Payables incurred in the acquisition …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50aa904af5cee2d160e78a55cf0aba48dfd1647139940d8b858c49c747fe702e","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"citation":"210-10-45-9","para":"45-9","html":"
Other liabilities whose regular and ordinary liquidation is expected to occur within a relatively short period of time, usually 12 months, are also generally included, such as the following:
  1. a
    Short-term debts arising from the acquisition of capital assets
  2. b
    Serial maturities of long-term obligations
  3. c
    Amounts required to be expended within one year under sinking fund provisions
  4. d
    Agency obligations arising from the collection or acceptance of cash or other assets for the account of third persons. Loans accompanied by pledge of life insurance policies would be classified as current liabilities if, by their terms or by intent, they are to be repaid within 12 months. The pledging of life insurance policies does not affect the classification of the asset any more than does the pledging of receivables, inventories, real estate, or other assets as collateral for a short-term loan. However, when a loan on a life insurance policy is obtained from the insurance entity with the intent that it will not be paid but will be liquidated by deduction from the proceeds of the policy upon maturity or cancellation, the obligation shall be excluded from current liabilities.
","snippet":"Other liabilities whose regular and ordinary liquidation is expected to occur within a relatively short period of time, usually 12 months, are also generally included, such as the following:\n(a) Short-term debts arising …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50d3d9c65a13ec6af57f8abd5b574092ff9c20e920d9b077ce30f5be6ffbaf7f","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"citation":"210-10-45-10","para":"45-10","html":"
A liability representing the underfunded status of a single-employer defined benefit pension or postretirement plan shall be classified pursuant to Section 715-20-45.
","snippet":"A liability representing the underfunded status of a single-employer defined benefit pension or postretirement plan shall be classified pursuant to Section 715-20-45.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:40113618e02a3b87264a2bf4cde1ba103c2439d4ab8cc493244e3df29a8ff709","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"citation":"210-10-45-11","para":"45-11","html":"
If the amounts of the periodic payments of an obligation are, by contract, measured by current transactions, as for example by rents or revenues received in the case of equipment trust certificates or by the depletion of natural resources in the case of property obligations, the portion of the total obligation to be included as a current liability shall be that representing the amount accrued at the balance sheet date.
","snippet":"If the amounts of the periodic payments of an obligation are, by contract, measured by current transactions, as for example by rents or revenues received in the case of equipment trust certificates or by the depletion of…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e6eccb12aeb34a75d99ae243851fbf9712074a9cde247f370676181c631509f","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"citation":"210-10-45-12","para":"45-12","html":"
The current liability classification is not intended to include debts to be liquidated by funds that have been accumulated in accounts of a type not properly classified as current assets, or long-term obligations incurred to provide increased amounts of working capital for long periods.
","snippet":"The current liability classification is not intended to include debts to be liquidated by funds that have been accumulated in accounts of a type not properly classified as current assets, or long-term obligations incurre…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9a4542fe4421c3bd2382533d1e69137432e656da3ff7932586684721b737949b","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a17f5b79ac0fdfc345e8ac33bf2ee4795973bb7d847c847fb9999e629b2628c0","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"block":null,"heading":"Valuation Allowances","paragraphs":[{"citation":"210-10-45-13","para":"45-13","html":"
Asset valuation allowances for losses such as those on receivables and investments shall be deducted from the assets or groups of assets to which the allowances relate.
","snippet":"Asset valuation allowances for losses such as those on receivables and investments shall be deducted from the assets or groups of assets to which the allowances relate.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:be79188668749e916f62f4a60c49d1e256ad01c51b7c553dbd21f0274f2b1251","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7303215f0331043e2eaefe97f4e6bc25e042f41f921520c48d1202f78933f8f3","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:514a3a365ee047135090a65aa686962e6497f7a98aad91496790ba3cdf07dc2d","downloaded_from":"2026-09-09T22:58:31.300Z","last_downloaded_at":"2026-09-09T22:58:31.300Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483467","source_sha256":"ce6dd66270d451ba6d86befdfc64fc43893558b22357510d24b17faa92ae10ad"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Current Assets","paragraphs":[{"citation":"210-10-50-1","para":"50-1","html":"
It is important that the amounts at which current assets are stated be supplemented by information that reveals, for the various classifications of inventory items, the basis upon which their amounts are stated and, where practicable, indication of the method of determining the cost—for example, average cost, first-in first-out (FIFO), last-in first-out (LIFO), and so forth.
","snippet":"It is important that the amounts at which current assets are stated be supplemented by information that reveals, for the various classifications of inventory items, the basis upon which their amounts are stated and, wher…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f70b4bed359e166b9485e599962949999773f98c75d8c9a7550e3f80043f2183","downloaded_from":"2026-09-09T22:58:33.760Z","last_downloaded_at":"2026-09-09T22:58:33.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483489","source_sha256":"bd73592493f7ef020bb86ba2f6e3d9e7dd6aaea9d15a6402e68d8a0de63c0e6e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:11fff7b8bdf5b08e9717594e22d3e65dcfb56b3671ab1517b5e4c4c4a4f5c71a","downloaded_from":"2026-09-09T22:58:33.760Z","last_downloaded_at":"2026-09-09T22:58:33.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483489","source_sha256":"bd73592493f7ef020bb86ba2f6e3d9e7dd6aaea9d15a6402e68d8a0de63c0e6e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b5d8928c376d009208d4616f62442cee2a5832c84412f38100efc72a4cae413c","downloaded_from":"2026-09-09T22:58:33.760Z","last_downloaded_at":"2026-09-09T22:58:33.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483489","source_sha256":"bd73592493f7ef020bb86ba2f6e3d9e7dd6aaea9d15a6402e68d8a0de63c0e6e"}},{"number":"60","label":"60 Relationships","anchor":"60-relationships","is_sec":false,"groups":[{"block":null,"heading":"Receivables","paragraphs":[{"citation":"210-10-60-1","para":"60-1","html":"
For guidance on the presentation of unearned discounts (other than cash or quantity discounts and the like), finance charges, and interest, see paragraph 310-10-45-8.
","snippet":"For guidance on the presentation of unearned discounts (other than cash or quantity discounts and the like), finance charges, and interest, see paragraph 310-10-45-8.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:79036b72dbc285c5c8a57d0436c1ecbab3e814a2539743149874a06358777eee","downloaded_from":"2026-09-09T22:58:37.742Z","last_downloaded_at":"2026-09-09T22:58:37.742Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483464","source_sha256":"e045f7d4ae2bc074c41734017c8d5d610e9ce0c4674bf0c523ce6d8dcd1a8d5c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa1a07eab2b1a6627282e85ffebdc77b8e1eec707a8271e82dd3726cd1786d84","downloaded_from":"2026-09-09T22:58:37.742Z","last_downloaded_at":"2026-09-09T22:58:37.742Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483464","source_sha256":"e045f7d4ae2bc074c41734017c8d5d610e9ce0c4674bf0c523ce6d8dcd1a8d5c"}},{"block":null,"heading":"Revenue Recognition","paragraphs":[{"citation":"210-10-60-2","para":"60-2","html":"
For guidance on the presentation of provisions for losses on contracts, see paragraph 605-35-45-2.
","snippet":"For guidance on the presentation of provisions for losses on contracts, see paragraph 605-35-45-2.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f509f90a0900058b288584ea4af6f802a476edf087705ee87b639c3a25602849","downloaded_from":"2026-09-09T22:58:37.742Z","last_downloaded_at":"2026-09-09T22:58:37.742Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483464","source_sha256":"e045f7d4ae2bc074c41734017c8d5d610e9ce0c4674bf0c523ce6d8dcd1a8d5c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6397905a94439b1c7b750e6bc77c36ec4d865e2786fd6cc3ee3f80a61f7770fe","downloaded_from":"2026-09-09T22:58:37.742Z","last_downloaded_at":"2026-09-09T22:58:37.742Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483464","source_sha256":"e045f7d4ae2bc074c41734017c8d5d610e9ce0c4674bf0c523ce6d8dcd1a8d5c"}},{"block":null,"heading":"Reorganizations","paragraphs":[{"citation":"210-10-60-3","para":"60-3","html":"
For guidance on the presentation of liabilities subject to compromise and those not subject to compromise during reorganization proceedings, see paragraph 852-10-45-4.
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See paragraph 210-10-S99-1, Regulation S-X Rule 5-02.22, for disclosure requirements related to bonds, mortgages, and other long-term debt.
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See paragraph 210-10-S99-2, SAB Topic 6.H, for SEC Staff views on disclosure of compensating balances and short-term borrowing arrangements.
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See paragraph 210-10-S99-2, SAB Topic 6.H.3.c, for SEC Staff guidance related to the calculation of float for the purposes of compensating balance arrangements disclosure.
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The following is the text of Regulation S-X Rule 5-02, Balance Sheets (17 CFR 210.5-02).
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The following is the text of SAB Topic 6.H, Accounting Series Release 148—Disclosures of Compensating Balances and Short-Term Borrowing Arrangements.
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Disc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:371652f69c56fb9d3656f95b4f6e20732ad3ad81a16eb1497781ffba41d19702","downloaded_from":"2026-09-09T22:59:02.715Z","last_downloaded_at":"2026-09-09T22:59:02.715Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480566","source_sha256":"f1520f922b02553337b093b0c2bea849f7701a4dd574d1555dc8f6d9d30676cf"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a513c2b918a1c77ba6d191842c82f8c49453d43041aad58a7911df9f0a0bdbba","downloaded_from":"2026-09-09T22:59:02.715Z","last_downloaded_at":"2026-09-09T22:59:02.715Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480566","source_sha256":"f1520f922b02553337b093b0c2bea849f7701a4dd574d1555dc8f6d9d30676cf"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bba73459756129578b5c4a51405c49ab4d9a423ca2af06118722a148c7aea6fd","downloaded_from":"2026-09-09T22:59:02.715Z","last_downloaded_at":"2026-09-09T22:59:02.715Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480566","source_sha256":"f1520f922b02553337b093b0c2bea849f7701a4dd574d1555dc8f6d9d30676cf"}}],"enrichment":{"summary":"ASC 210-10 provides the general guidance for classifying assets and liabilities as current or noncurrent on a classified balance sheet (statement of financial position), permitting ready determination of working capital. Current assets are cash and other resources expected to be realized in cash or consumed within one year or the operating cycle, whichever is longer; current liabilities are obligations whose liquidation is expected to require use of current assets within that same period. The guidance applies to all entities, but only when an entity chooses to present a classified balance sheet (210-10-15-3).","key_points":["Current assets generally include cash available for current operations and cash equivalents, inventories, trade receivables, receivables collectible within a year, marketable securities representing investment of cash available for current operations, and prepaid expenses (210-10-45-1).","The operating cycle, not one year, is the measuring period: use one year when several cycles occur within a year, use the longer cycle if it exceeds 12 months (e.g., tobacco, distillery, lumber), and default to one year if there is no clearly defined cycle (210-10-45-3).","Excluded from current assets are restricted cash or cash designated for noncurrent asset acquisition or long-term debt liquidation, investments/advances held for control or affiliation, receivables from unusual transactions not collectible within 12 months, cash surrender value of life insurance, land and natural resources, depreciable assets, and long-term prepayments or deferred charges (210-10-45-4).","Prepaid expenses are current not because they convert to cash but because, if not prepaid, they would require use of current assets during the operating cycle (210-10-45-2).","A total of current liabilities shall be presented in classified balance sheets (210-10-45-5); current liabilities include payables from the operating cycle, collections received in advance of delivery, accruals for wages, taxes and royalties, and estimated or accrued known obligations measurable only approximately (210-10-45-6; 45-8).","Other obligations liquidated within about 12 months are current, including short-term debts for capital assets, serial maturities of long-term obligations, amounts payable within one year under sinking fund provisions, and agency obligations (210-10-45-9); debts to be liquidated from funds not classified as current assets, or long-term obligations incurred to increase working capital, are excluded (210-10-45-12).","Asset valuation allowances (e.g., for losses on receivables and investments) shall be deducted from the related assets or groups of assets (210-10-45-13), and inventory amounts must be supplemented by disclosure of the basis of statement and cost method such as average cost, FIFO, or LIFO (210-10-50-1)."],"categories":["Presentation","Financial statement presentation","Disclosure"],"audience_level":"introductory","student_note":"This is the foundational current/noncurrent classification guidance tested constantly on the FAR exam; the classic trap is applying a rigid one-year rule when the entity's operating cycle is longer, or treating restricted cash and prepaid expenses incorrectly. Also remember classification of pension over/underfunded status goes to ASC 715-20-45, and debt refinancing/callable debt questions go to ASC 470-10-45.","related_topics":["210-20","470-10","715-20","310-10","852-10","926-20"],"key_concepts":["classified balance sheet","current assets","current liabilities","working capital","operating cycle","one-year rule","prepaid expenses","valuation allowance"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6183f2d4b4b438d58a3e343d0e6e734c66966b2ed499a808619dd8c8c04ff5d9","downloaded_from":"2026-09-09T22:58:18.165Z","last_downloaded_at":"2026-09-09T22:59:02.715Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"210-942","title":"Financial Services—Depository and Lending","topic_title":"Balance Sheet","score":0.8207,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4fbd80c4846e95075f810e6cb7a4ebceb4375876c95d4a4fc5c2cb0f18dff530","downloaded_from":"2026-09-09T23:00:23.086Z","last_downloaded_at":"2026-09-09T23:00:53.507Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"942-10","title":"Overall","topic_title":"Financial Services—Depository and Lending","score":0.7983,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9941940a5fd391f87c375f88c3a6e431812e616fe0c01a391a6cea9d0e33f682","downloaded_from":"2026-09-10T02:14:00.861Z","last_downloaded_at":"2026-09-10T02:14:20.985Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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Sheet","score":0.784,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:25eca36a513e1077aa1710a809402a9433eb6720ad93598da702223db962a990","downloaded_from":"2026-09-09T23:01:25.620Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"235-10","title":"Overall","topic_title":"Notes to Financial Statements","score":0.782,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:420a98f53c2c3b0be9aea33f2677eefdc8730d92eab386de138fadde6e539588","downloaded_from":"2026-09-09T23:14:08.789Z","last_downloaded_at":"2026-09-09T23:14:35.922Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by 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timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a4f1b3372d9bff7442a93cf1ff50719aa7e866179bbcc26c0242853192857a29","downloaded_from":"2026-09-09T22:58:18.165Z","last_downloaded_at":"2026-09-09T22:59:02.715Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-20","topic":"210","title":"Offsetting","area":"Presentation","paragraphs":61,"summary":"ASC 210-20 states the general principle that offsetting assets and liabilities on the balance sheet is improper unless a right of setoff exists, and sets the four conditions for a right of setoff (210-20-45-1): two parties owe each other determinable amounts, the reporting party has the right to set off, intends to set off, and the right is enforceable at law (including in bankruptcy). It also provides a narrow exception permitting (but not requiring) offsetting of payables and receivables under same-counterparty, same-settlement-date repurchase and reverse repurchase agreements accounted for as collateralized borrowings that meet all conditions in 210-20-45-11, and it imposes extensive netting disclosures for derivatives, repos/reverse repos, and securities borrowing/lending subject to enforceable master netting arrangements.","concepts":["right of setoff","offsetting","master netting arrangement","repurchase and reverse repurchase agreements","enforceability in bankruptcy","intent to set off","cash collateral","net presentation in statement of financial position"],"categories":["Presentation","Disclosure","Financial instruments","Derivatives and hedging"],"level":"intermediate","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-20-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
CashAddedAccounting Standards Update No. 2012-0410/01/2012
Commencement Date of the Lease (Commencement Date)AddedAccounting Standards Update No. 2016-0202/25/2016
ContractAddedAccounting Standards Update No. 2016-0202/25/2016
LeaseAddedAccounting Standards Update No. 2016-0202/25/2016
LesseeAddedAccounting Standards Update No. 2016-0202/25/2016
LessorAddedAccounting Standards Update No. 2016-0202/25/2016
Leveraged LeaseAddedAccounting Standards Update No. 2016-0202/25/2016
Repurchase Agreement Accounted for as a Collateralized Borrowing (formerly Repurchase Agreement [2nd def.])AddedAccounting Standards Update No. 2014-0603/14/2014
Repurchase Agreement (2nd def)SupersededAccounting Standards Update No. 2014-0603/14/2014
Reverse Repurchase Agreement Accounted for as a Collateralized Borrowing (formerly Reverse Repurchase Agreement)AddedAccounting Standards Update No. 2014-0603/14/2014
Reverse Repurchase AgreementSupersededAccounting Standards Update No. 2014-0603/14/2014
Underlying AssetAddedAccounting Standards Update No. 2016-0202/25/2016
210-20-05-3AmendedAccounting Standards Update No. 2014-0603/14/2014
210-20-15-3AmendedMaintenance Update 2017-21 (PDF)12/22/2017
210-20-15-3AmendedAccounting Standards Update No. 2016-0202/25/2016
210-20-15-3AmendedAccounting Standards Update No. 2013-1107/18/2013
210-20-15-3AmendedAccounting Standards Update No. 2012-0410/01/2012
210-20-45-11AmendedAccounting Standards Update No. 2014-0603/14/2014
210-20-50-1 through 50-5
AmendedAccounting Standards Update No. 2025-1112/08/2025
210-20-50-1AmendedAccounting Standards Update No. 2014-0603/14/2014
210-20-50-1AmendedAccounting Standards Update No. 2013-0101/31/2013
210-20-50-1 through 50-6
AddedAccounting Standards Update No. 2011-1112/16/2011
210-20-50-2AmendedAccounting Standards Update No. 2013-0101/31/2013
210-20-55-1 through 55-22
AddedAccounting Standards Update No. 2011-1112/16/2011
210-20-55-2 through 55-5SupersededAccounting Standards Update No. 2013-0101/31/2013
210-20-55-7AmendedAccounting Standards Update No. 2013-0101/31/2013
210-20-55-10AAddedAccounting Standards Update No. 2013-0101/31/2013
210-20-55-18AAddedAccounting Standards Update No. 2012-0410/01/2012
210-20-55-20 through 55-22
AmendedAccounting Standards Update No. 2013-0101/31/2013
210-20-55-22AmendedAccounting Standards Update No. 2016-1912/14/2016
210-20-60-3AmendedAccounting Standards Update No. 2013-1107/18/2013
210-20-60-3AAddedAccounting Standards Update No. 2012-0410/01/2012
210-20-60-4AmendedAccounting Standards Update No. 2016-0202/25/2016
210-20-60-7AmendedMaintenance Update 2017-21 (PDF)12/22/2017
210-20-65-1AmendedAccounting Standards Update No. 2013-0101/31/2013
210-20-65-1AddedAccounting Standards Update No. 2011-1112/16/2011
210-20-65-2AddedAccounting Standards Update No. 2013-0101/31/2013
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nCash | Added | Accounting Standards Update No. 2012-04 | 10/01/2012 |\nCommencement Date …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:60ba80a0f6eec328d08512e64579bc4aead5d4ef1ba42113694ef1383473c7ec","downloaded_from":"2026-09-09T22:59:04.667Z","last_downloaded_at":"2026-09-09T22:59:04.667Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483447","source_sha256":"ca1940776594c4b740a861799d72e9d8eaa16da9a29a6b45372c3ee0e9195f59"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:18d8a5ac29ec462c2c33e50716a56341ac968e612f81eadce13c4e4dc03c7bb1","downloaded_from":"2026-09-09T22:59:04.667Z","last_downloaded_at":"2026-09-09T22:59:04.667Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483447","source_sha256":"ca1940776594c4b740a861799d72e9d8eaa16da9a29a6b45372c3ee0e9195f59"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1638ada1f70e3a1500e814ea78629411fa32fce6be295f01740b7d35fdb2ab28","downloaded_from":"2026-09-09T22:59:04.667Z","last_downloaded_at":"2026-09-09T22:59:04.667Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483447","source_sha256":"ca1940776594c4b740a861799d72e9d8eaa16da9a29a6b45372c3ee0e9195f59"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-20-05-1","para":"05-1","html":"
This Subtopic provides criteria for offsetting amounts related to certain contracts and provides guidance on presentation. It is a general principle of accounting that the offsetting of assets and liabilities in the balance sheet is improper except if a right of setoff exists.
","snippet":"This Subtopic provides criteria for offsetting amounts related to certain contracts and provides guidance on presentation. It is a general principle of accounting that the offsetting of assets and liabilities in the bala…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:476031241c53429e52790ccdef97609c4c4532309718ea2f8ea786149e455adb","downloaded_from":"2026-09-09T22:59:07.769Z","last_downloaded_at":"2026-09-09T22:59:07.769Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483470","source_sha256":"0d61be8e4182ab5ea82fe0992f0ddc590766b6c5dfedc712d46c713abff5e278"}},{"citation":"210-20-05-2","para":"05-2","html":"
The general principle that the offsetting of assets and liabilities is improper except where a right of setoff exists is usually thought of in the context of unconditional receivables from and payables to another party. That general principle also applies to conditional amounts recognized for contracts under which the amounts to be received or paid or items to be exchanged in the future depend on future interest rates, future exchange rates, future commodity prices, or other factors.
","snippet":"The general principle that the offsetting of assets and liabilities is improper except where a right of setoff exists is usually thought of in the context of unconditional receivables from and payables to another party. …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ecc4ed7ace5664ae6b2c730a9eae540942c4be6a6b912c66d2decedac35c7f24","downloaded_from":"2026-09-09T22:59:07.769Z","last_downloaded_at":"2026-09-09T22:59:07.769Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483470","source_sha256":"0d61be8e4182ab5ea82fe0992f0ddc590766b6c5dfedc712d46c713abff5e278"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5dd6590c9a0b021cc9b410611a45b13aed11ffe4bfda6cb7eda58713070e9532","downloaded_from":"2026-09-09T22:59:07.769Z","last_downloaded_at":"2026-09-09T22:59:07.769Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483470","source_sha256":"0d61be8e4182ab5ea82fe0992f0ddc590766b6c5dfedc712d46c713abff5e278"}},{"block":null,"heading":"Repurchase and Reverse Repurchase Agreements","paragraphs":[{"citation":"210-20-05-3","para":"05-3","html":"
As defined, repurchase agreements accounted for as collateralized borrowings and reverse repurchase agreements accounted for as collateralized borrowings represent collateralized borrowing and lending transactions. These transactions may involve a master netting agreement between the parties. This Subtopic addresses offsetting for such borrowing and lending transactions.
","snippet":"As defined, repurchase agreements accounted for as collateralized borrowings and reverse repurchase agreements accounted for as collateralized borrowings represent collateralized borrowing and lending transactions. These…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fe911d4a99f275c15c92c28c1e5fe80df2b90fae84c22256e96bc04471019ee5","downloaded_from":"2026-09-09T22:59:07.769Z","last_downloaded_at":"2026-09-09T22:59:07.769Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483470","source_sha256":"0d61be8e4182ab5ea82fe0992f0ddc590766b6c5dfedc712d46c713abff5e278"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:423fbc369948a3fdf6b6435af0d2a906b79ff995c5574106655ccb8c188dd94b","downloaded_from":"2026-09-09T22:59:07.769Z","last_downloaded_at":"2026-09-09T22:59:07.769Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483470","source_sha256":"0d61be8e4182ab5ea82fe0992f0ddc590766b6c5dfedc712d46c713abff5e278"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:17bb9a2f7cc61f1491633d970d82cd646f81fd0de5e9624d509d9c27d7c97047","downloaded_from":"2026-09-09T22:59:07.769Z","last_downloaded_at":"2026-09-09T22:59:07.769Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483470","source_sha256":"0d61be8e4182ab5ea82fe0992f0ddc590766b6c5dfedc712d46c713abff5e278"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Entities","paragraphs":[{"citation":"210-20-15-1","para":"15-1","html":"
The guidance in this Subtopic applies to all entities.
","snippet":"The guidance in this Subtopic applies to all entities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:777124d74774d0576f390bd7bb7cd86fe68a06986162f8659e243e489c5a138d","downloaded_from":"2026-09-09T22:59:11.191Z","last_downloaded_at":"2026-09-09T22:59:11.191Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483445","source_sha256":"0893b20adbeaca3e4f34183afc3b07f7c53e1e6d14c2f71c83ff297fda70d2f4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b04632d10bc17409dd06bd494300c1b99533accafc2a9b304e5c1bb9b7422611","downloaded_from":"2026-09-09T22:59:11.191Z","last_downloaded_at":"2026-09-09T22:59:11.191Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483445","source_sha256":"0893b20adbeaca3e4f34183afc3b07f7c53e1e6d14c2f71c83ff297fda70d2f4"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"210-20-15-2","para":"15-2","html":"
The guidance in this Subtopic does not apply to the following types of transactions and contract arrangements:
  1. a
    The derecognition or nonrecognition of assets and liabilities. Derecognition by sale of an asset or extinguishment of a liability results in removal of a recognized asset or liability and generally results in the recognition of gain or loss. Although conceptually different, offsetting that results in a net amount of zero and derecognition with no gain or loss are indistinguishable in their effects on the statement of financial position. Likewise, not recognizing assets and liabilities of the same amount in financial statements achieves similar reported results.
","snippet":"The guidance in this Subtopic does not apply to the following types of transactions and contract arrangements:\n(a) The derecognition or nonrecognition of assets and liabilities. Derecognition by sale of an asset or extin…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a753e4ed059b5170ab90e8e69725cdd71b7ba1e66ef49c53d8c9aaaf834b0e67","downloaded_from":"2026-09-09T22:59:11.191Z","last_downloaded_at":"2026-09-09T22:59:11.191Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483445","source_sha256":"0893b20adbeaca3e4f34183afc3b07f7c53e1e6d14c2f71c83ff297fda70d2f4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7bf58fc940e8b42eef88bfdaf13ca751a4e8562eab9fa465c1a724d2e737b8fe","downloaded_from":"2026-09-09T22:59:11.191Z","last_downloaded_at":"2026-09-09T22:59:11.191Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483445","source_sha256":"0893b20adbeaca3e4f34183afc3b07f7c53e1e6d14c2f71c83ff297fda70d2f4"}},{"block":null,"heading":"Other Considerations","paragraphs":[{"citation":"210-20-15-3","para":"15-3","html":"
The general principle of a right of setoff involves only two parties, and exceptions to that general principle shall be limited to practices specifically permitted by the Subtopics listed in this paragraph. Various accounting Subtopics specify accounting treatments in circumstances that result in offsetting or in a presentation in a statement of financial position that is similar to the effect of offsetting. The guidance in this Subtopic does not modify the accounting treatment in the particular circumstances prescribed by any of the following Subtopics:
  1. a
    Subtopic 842-50 (leveraged leases)
  2. b
    Subtopic 715-30 (accounting for pension plan assets and liabilities)
  3. c
    Subtopic 715-60 (accounting for plan assets and liabilities)
  4. d
    Subtopic 740-10 (net tax asset or liability amounts reported)
  5. dd
    Paragraphs
    815-10-45-1 through 45-7
    (derivative instruments with the right to reclaim cash collateral or the obligation to return cash collateral)
  6. e
    Subtopics 940-320 (trade date accounting for trading portfolio positions) and 910-405 (advances received on construction contracts)
  7. f
    Paragraph 942-210-45-3A (reciprocal balances with other banks).
","snippet":"The general principle of a right of setoff involves only two parties, and exceptions to that general principle shall be limited to practices specifically permitted by the Subtopics listed in this paragraph. Various accou…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cc3c7878629ed801eb2357dd5b708bc3f84218e4632fcdde713a913205d202e6","downloaded_from":"2026-09-09T22:59:11.191Z","last_downloaded_at":"2026-09-09T22:59:11.191Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483445","source_sha256":"0893b20adbeaca3e4f34183afc3b07f7c53e1e6d14c2f71c83ff297fda70d2f4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5dbaef8592d0b04874f8a99448d743e7a4e692d694ef046b54dd8e4d9c6e5357","downloaded_from":"2026-09-09T22:59:11.191Z","last_downloaded_at":"2026-09-09T22:59:11.191Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483445","source_sha256":"0893b20adbeaca3e4f34183afc3b07f7c53e1e6d14c2f71c83ff297fda70d2f4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:80eb74e3a5d171d43176472f5b5a692ac7d68a0aa586bca39d7d622880371a70","downloaded_from":"2026-09-09T22:59:11.191Z","last_downloaded_at":"2026-09-09T22:59:11.191Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483445","source_sha256":"0893b20adbeaca3e4f34183afc3b07f7c53e1e6d14c2f71c83ff297fda70d2f4"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Right of Setoff Conditions","paragraphs":[{"citation":"210-20-45-1","para":"45-1","html":"
A right of setoff exists when all of the following conditions are met:
  1. a
    Each of two parties owes the other determinable amounts.
  2. b
    The reporting party has the right to set off the amount owed with the amount owed by the other party.
  3. c
    The reporting party intends to set off.
  4. d
    The right of setoff is enforceable at law.
","snippet":"A right of setoff exists when all of the following conditions are met:\n(a) Each of two parties owes the other determinable amounts.\n(b) The reporting party has the right to set off the amount owed with the amount owed by…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:51c04d62d1183753669b877b657f2dc591104cec86a3b5a1ce440eab2e495d97","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-2","para":"45-2","html":"
A debtor having a valid right of setoff may offset the related asset and liability and report the net amount.
","snippet":"A debtor having a valid right of setoff may offset the related asset and liability and report the net amount.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b8ea9b7d742df1161ad41669877b58f3adfe618c24617e8e6ab8074be016834e","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-3","para":"45-3","html":"
If the parties meet the criteria specified in paragraph 210-20-45-1, specifying currency or interest rate requirements is unnecessary. However, if maturities differ, only the party with the nearer maturity could offset because the party with the longer term maturity must settle in the manner that the other party selects at the earlier maturity date.
","snippet":"If the parties meet the criteria specified in paragraph 210-20-45-1, specifying currency or interest rate requirements is unnecessary. However, if maturities differ, only the party with the nearer maturity could offset b…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:92f3e9006c9a6e5058b7efa34c563e006293b4817dacd8ad01033b8dfe6e240c","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-4","para":"45-4","html":"
If a party does not intend to set off even though the ability to set off exists, an offsetting presentation in the statement of financial position is not representationally faithful.
","snippet":"If a party does not intend to set off even though the ability to set off exists, an offsetting presentation in the statement of financial position is not representationally faithful.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c66bf3fb4fb33227166e58a17e37f713cf258b228b74b55bd239b0545dca98f2","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-5","para":"45-5","html":"
Acknowledgment of the intent to set off by the reporting party and, if applicable, demonstration of the execution of the setoff in similar situations meet the criterion of intent.
","snippet":"Acknowledgment of the intent to set off by the reporting party and, if applicable, demonstration of the execution of the setoff in similar situations meet the criterion of intent.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:823b94ec700c476f959e196597c5d6dddb8162917bfe6974f0267ee4a3be6f82","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8f132604fcdd785706f01d13de1e73a221e9eaee0d37051f826ec0f41637a72c","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"block":null,"heading":"Offsetting Securities Against Taxes Payable","paragraphs":[{"citation":"210-20-45-6","para":"45-6","html":"
The offset of cash or other assets against the tax liability or other amounts owing to governmental bodies shall not be acceptable except in the circumstances described in the following paragraph.
","snippet":"The offset of cash or other assets against the tax liability or other amounts owing to governmental bodies shall not be acceptable except in the circumstances described in the following paragraph.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d62307c22f6ca48195674fc96a7d8f9a51d8c506664bc52d03e1536000786d98","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-7","para":"45-7","html":"
Most securities issued by governments are not by their terms designed specifically for the payment of taxes and, accordingly, shall not be deducted from taxes payable on the balance sheet. The only exception to this general principle occurs when it is clear that a purchase of securities (acceptable for the payment of taxes) is in substance an advance payment of taxes that will be payable in the relatively near future, so that in the special circumstances the purchase is tantamount to the prepayment of taxes. This occurs at times, for example, as an accommodation to a local government and in some instances when governments issue securities that are specifically designated as being acceptable for the payment of taxes of those governments.
","snippet":"Most securities issued by governments are not by their terms designed specifically for the payment of taxes and, accordingly, shall not be deducted from taxes payable on the balance sheet. The only exception to this gene…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:35cf3cace830952b7e080c563d7afe9e3cbae603d61dbef4728219a60d9e689d","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8f96646b33dd68b2ca7cf7befa0214bf28d12f23e9a0fd74d3371b5493f1f925","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"block":null,"heading":"Assurance that Right of Setoff Is Enforceable in a Bankruptcy","paragraphs":[{"citation":"210-20-45-8","para":"45-8","html":"
State laws about the right of setoff may provide results different from those normally provided by contract or as a matter of common law. Similarly, the U.S. Bankruptcy Code imposes restrictions on or prohibitions against the right of setoff in bankruptcy under certain circumstances. Legal constraints should be considered to determine whether the right of setoff is enforceable.
","snippet":"State laws about the right of setoff may provide results different from those normally provided by contract or as a matter of common law. Similarly, the U.S. Bankruptcy Code imposes restrictions on or prohibitions agains…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c9764f477d492c94dc989d2f90899933d886905427fdaccb6e4599e2f19afd83","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-9","para":"45-9","html":"
The phrase enforceable at law encompasses the idea that the right of setoff should be upheld in bankruptcy. The nature of support required for an assertion in financial statements that a right of setoff is enforceable at law is subject to a cost-benefit constraint and depends on facts and circumstances. All of the information that is available, either supporting or questioning enforceability, should be considered. Offsetting is appropriate only if the available evidence, both positive and negative, indicates that there is reasonable assurance that the right of setoff would be upheld in bankruptcy.
","snippet":"The phrase enforceable at law encompasses the idea that the right of setoff should be upheld in bankruptcy. The nature of support required for an assertion in financial statements that a right of setoff is enforceable at…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:915b7d48f27937d20176887026d8ccf3ab0431d82ee54a9aac99d5761cd76a29","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-10","para":"45-10","html":"
Paragraph not used.
","snippet":"Paragraph not used.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:515a0408fdb5d6c05299ffda2e877a2315478b4250f63dcf9b080f9c52d87973","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e947778d97d03339c566156d7e74b6d4188d9d870512508f0676f58c89132679","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"block":null,"heading":"Repurchase and Reverse Repurchase Agreements","paragraphs":[{"citation":"210-20-45-11","para":"45-11","html":"
Notwithstanding the condition in paragraph 210-20-45-1(c), an entity may, but is not required to, offset amounts recognized as payables under repurchase agreements accounted for as collateralized borrowings and amounts recognized as receivables under reverse repurchase agreements accounted for as collateralized borrowings if all of the following conditions are met:
  1. a
    The repurchase and reverse repurchase agreements are executed with the same counterparty.
  2. b
    The repurchase and reverse repurchase agreements have the same explicit settlement date specified at the inception of the agreement.
  3. c
    The repurchase and reverse repurchase agreements are executed in accordance with a master netting arrangement.
  4. d
    The securities underlying the repurchase and reverse repurchase agreements exist in book entry form and can be transferred only by means of entries in the records of the transfer system operator or securities custodian. Book entry securities meeting the criterion in this paragraph exist only as items in accounting records maintained by a transfer system operator. This requirement does not preclude offsetting of securities held in book entry form solely because other securities of the same issue exist in other forms.
  5. e
    The repurchase and reverse repurchase agreements will be settled on a securities transfer system that operates in the manner described in paragraphs
    210-20-45-14 through 45-17
    , and the entity must have associated banking arrangements in place as described in those paragraphs. Cash settlements for securities transferred shall be made under established banking arrangements that provide that the entity will need available cash on deposit only for any net amounts that are due at the end of the business day. It must be probable that the associated banking arrangements will provide sufficient daylight overdraft or other intraday credit at the settlement date for each of the parties.     The term probable is used in this Subtopic consistent with its use in paragraph 450-20-25-1 to mean that a transaction or event is likely to occur.
  6. f
    The entity intends to use the same account at the clearing bank or other financial institution at the settlement date in transacting both the cash inflows resulting from the settlement of the reverse repurchase agreement and the cash outflows in settlement of the offsetting repurchase agreement.
","snippet":"Notwithstanding the condition in paragraph 210-20-45-1(c), an entity may, but is not required to, offset amounts recognized as payables under repurchase agreements accounted for as collateralized borrowings and amounts r…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fde7031b5e375738dc4f91f28320518bacd7677dedaf6560cb139775ecfa169d","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-12","para":"45-12","html":"
The entity's choice to offset or not shall be applied consistently. Net receivables resulting from the application of this Subtopic shall not be offset against net payables resulting from the application of this Subtopic in the statement of financial position.
","snippet":"The entity's choice to offset or not shall be applied consistently. Net receivables resulting from the application of this Subtopic shall not be offset against net payables resulting from the application of this Subtopic…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:460dec4690faf65d21e4057a0a83daafb95a4b8c559fb502de80d79375cee785","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-13","para":"45-13","html":"
Paragraph 210-20-45-11 does not apply to amounts recognized for other types of repurchase and reverse repurchase agreements executed under a master netting arrangement; however, those amounts could otherwise meet the conditions of paragraph 210-20-45-1 for a right of setoff. Therefore, unless all conditions in that paragraph are met, the amount recognized under a repurchase agreement that does not settle in accordance with all the conditions of paragraphs
210-20-45-11 through 45-17
may not be offset against the amount recognized under a reverse repurchase agreement merely because the agreements are executed with the same counterparty under a master netting arrangement. The gross unconditional receivables and payables recognized in the statement of financial position related to those types of repurchase and reverse repurchase agreements provide useful information about the timing and amount of future cash flows that would be lost if those amounts were offset.
","snippet":"Paragraph 210-20-45-11 does not apply to amounts recognized for other types of repurchase and reverse repurchase agreements executed under a master netting arrangement; however, those amounts could otherwise meet the con…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cd0a6bd30c512615102f18a45100806a0bd0b0e66ea766be16855e2ae05e0ddb","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:810563c709759f1b36c4564bf4848cd56941c92ed4bc7ff407a4d601bf1e3eb8","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"block":null,"heading":"Securities Transfer System","paragraphs":[{"citation":"210-20-45-14","para":"45-14","html":"
This guidance describes a securities transfer system for repurchase agreements and reverse repurchase agreements (and associated banking arrangements) that meets the requirements of paragraph 210-20-45-11. In a securities transfer system for repurchase agreements and reverse repurchase agreements that meets the requirements of that paragraph, cash transfers are initiated by notification from the owner of record of the securities to its securities custodian to transfer those securities to the counterparty to the agreement. The securities custodian for a securities transfer system may be the bank or financial institution that executes securities transfers over the securities transfer system, and book entry securities exist only in electronic form on the records of the transfer system operator for each entity that has a security account with the transfer system operator. Book entry securities exist only as items of account on the controlling records of the transfer system operator. Banks or other financial institutions may maintain subsidiary records of book entry securities. Book entry securities may be transferred on the subsidiary records of a bank or financial institution but, for entities that have a security account with the transfer system operator, may be transferred from the account of such an entity only through the transfer system operator.
","snippet":"This guidance describes a securities transfer system for repurchase agreements and reverse repurchase agreements (and associated banking arrangements) that meets the requirements of paragraph 210-20-45-11. In a securitie…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:482d7f2f5bec4002797fd72e554697e150ae3a5dc1dd05388764a4fb807ad87f","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-15","para":"45-15","html":"
Under associated banking arrangements, each party to a same-day settlement of both a repurchase agreement and a reverse repurchase agreement would be obligated to pay a gross amount of cash for the securities transferred from its counterparty but would be able to reduce that gross obligation by notifying its securities custodian to transfer other securities to that counterparty the same day.
","snippet":"Under associated banking arrangements, each party to a same-day settlement of both a repurchase agreement and a reverse repurchase agreement would be obligated to pay a gross amount of cash for the securities transferred…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6fb691a9356f13e56bb4f0e7e4ad49260c8835bb4a63da2d6ad4d47898ec948e","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-16","para":"45-16","html":"
Thus, each party is responsible for maintaining available cash on deposit only for the amount of any net payable unless it fails to instruct its securities custodian to transfer securities to its counterparty. Failure by either party to instruct its securities custodian to transfer securities owned of record would result in that party's failing to receive cash from the counterparty and, thereby, would require that party to have available cash on deposit for the gross payable due for securities transferred to it. The failure also shall be an event of default under the master netting arrangement required by paragraph 210-20-45-11. The event of default, in turn, shall entitle the other party to terminate the arrangement and demand the immediate net settlement of all contracts.
","snippet":"Thus, each party is responsible for maintaining available cash on deposit only for the amount of any net payable unless it fails to instruct its securities custodian to transfer securities to its counterparty. Failure by…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b65860e5d253a52ba409d3c7271fce36d08a06202578d8093460da6ea139a5b","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"citation":"210-20-45-17","para":"45-17","html":"
If both parties transfer the appropriate securities in settlement of the repurchase and reverse repurchase agreements, the party with a net receivable will not need any cash to facilitate the settlement, while the party with a net payable will need only to have available the required net amount due at the end of the business day.
","snippet":"If both parties transfer the appropriate securities in settlement of the repurchase and reverse repurchase agreements, the party with a net receivable will not need any cash to facilitate the settlement, while the party …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7bdc35af503d73f46ffc03ed92e89fb33beafb12c4255c364f0dbc1b18e4c5b7","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:109322148b9110085ec256644218ae9d9f4a6cebd24b165f8b60ead4630d24a1","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1004ee2ebd5591b78d929f65859a5b5addb2f4a4ec700fe88c290c34e93b6414","downloaded_from":"2026-09-09T22:59:16.403Z","last_downloaded_at":"2026-09-09T22:59:16.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483442","source_sha256":"fde4556b527285818a2cd0ffc04d46a8f2c1ff35230b32dc3838faad8e83338e"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Offsetting of Derivatives, Repurchase Agreements, and Securities Lending Transactions","paragraphs":[{"citation":"210-20-50-1","para":"50-1","html":"
The disclosure requirements in paragraphs
210-20-50-2 through 50-5
apply to both of the following:
  1. a
    Subparagraph superseded by Accounting Standards Update No. 2013-01.
  2. b
    Subparagraph superseded by Accounting Standards Update No. 2013-01.
  3. c
    Recognized derivative instruments accounted for in accordance with Topic 815, including bifurcated embedded derivatives, repurchase agreements accounted for as collateralized borrowings and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset in accordance with either Section 210-20-45 or Section 815-10-45
  4. d
    Recognized derivative instruments accounted for in accordance with Topic 815, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in accordance with either Section 210-20-45 or Section 815-10-45.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1The disclosure requirements in paragraphs
210-20-50-2 through 50-5
apply to both of the following in interim and annual reporting periods:
  1. a
  2. b
  3. c
    Recognized derivative instruments accounted for in accordance with Topic 815, including bifurcated embedded derivatives, repurchase agreements accounted for as collateralized borrowings and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset in accordance with either Section 210-20-45 or Section 815-10-45
  4. d
    Recognized derivative instruments accounted for in accordance with Topic 815, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in accordance with either Section 210-20-45 or Section 815-10-45.
","snippet":"The disclosure requirements in paragraphs 210-20-50-2 through 50-5 apply to both of the following:\n(a) Subparagraph superseded by Accounting Standards Update No. 2013-01.\n(b) Subparagraph superseded by Accounting Standar…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:46467fd1d76c4fdd5689d6d132b8af952267426dbd10e9cc172a26efa2ee88f4","downloaded_from":"2026-09-09T22:59:19.272Z","last_downloaded_at":"2026-09-09T22:59:19.272Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483466","source_sha256":"a5a725a0f630d7946c9cc4ef3650d4714e2a647c262695c0228b6d36ed0c0b20"}},{"citation":"210-20-50-2","para":"50-2","html":"
An entity shall disclose information to enable users of its financial statements to evaluate the effect or potential effect of netting arrangements on its financial position for recognized assets and liabilities within the scope of paragraph 210-20-50-1. This includes the effect or potential effect of rights of setoff associated with an entity's recognized assets and recognized liabilities that are in the scope of paragraph 210-20-50-1.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For interim and annual reporting periods, an entity shall disclose information to enable users of its financial statements to evaluate the effect or potential effect of netting arrangements on its financial position for recognized assets and liabilities within the scope of paragraph 210-20-50-1. This includes the effect or potential effect of rights of setoff associated with an entity's recognized assets and recognized liabilities that are in the scope of paragraph 210-20-50-1.
","snippet":"An entity shall disclose information to enable users of its financial statements to evaluate the effect or potential effect of netting arrangements on its financial position for recognized assets and liabilities within t…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ec496821d0561ee9ba0c7ed5f56b530df1503c1d680ac3788031c530203d309a","downloaded_from":"2026-09-09T22:59:19.272Z","last_downloaded_at":"2026-09-09T22:59:19.272Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483466","source_sha256":"a5a725a0f630d7946c9cc4ef3650d4714e2a647c262695c0228b6d36ed0c0b20"}},{"citation":"210-20-50-3","para":"50-3","html":"
To meet the objective in paragraph 210-20-50-2, an entity shall disclose at the end of the reporting period the following quantitative information separately for assets and liabilities that are within the scope of paragraph 210-20-50-1:
  1. a
    The gross amounts of those recognized assets and those recognized liabilities
  2. b
    The amounts offset in accordance with the guidance in Sections 210-20-45 and 815-10-45 to determine the net amounts presented in the statement of financial position
  3. c
    The net amounts presented in the statement of financial position
  4. d
    The amounts subject to an enforceable master netting arrangement or similar agreement not otherwise included in (b):
    1. 1
      The amounts related to recognized financial instruments and other derivative instruments that either:
      1. i
        Management makes an accounting policy election not to offset.
      2. ii
        Do not meet some or all of the guidance in either Section 210-20-45 or Section 815-10-45.
    2. 2
      The amounts related to financial collateral (including cash collateral).
  5. e
    The net amount after deducting the amounts in (d) from the amounts in (c).
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1To meet the objective in paragraph 210-20-50-2, an entity shall disclose at the end of interim and annual reporting periods the following quantitative information separately for assets and liabilities that are within the scope of paragraph 210-20-50-1:
  1. a
    The gross amounts of those recognized assets and those recognized liabilities
  2. b
    The amounts offset in accordance with the guidance in Sections 210-20-45 and 815-10-45 to determine the net amounts presented in the statement of financial position
  3. c
    The net amounts presented in the statement of financial position
  4. d
    The amounts subject to an enforceable master netting arrangement or similar agreement not otherwise included in (b):
    1. 1
      The amounts related to recognized financial instruments and other derivative instruments that either:
      1. i
        Management makes an accounting policy election not to offset.
      2. ii
        Do not meet some or all of the guidance in either Section 210-20-45 or Section 815-10-45.
    2. 2
      The amounts related to financial collateral (including cash collateral).
  5. e
    The net amount after deducting the amounts in (d) from the amounts in (c).
","snippet":"To meet the objective in paragraph 210-20-50-2, an entity shall disclose at the end of the reporting period the following quantitative information separately for assets and liabilities that are within the scope of paragr…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:09871367a3d0877e0590a13d4200f8ec7aee3b3b42e113e5fa98d2f5840aa7cd","downloaded_from":"2026-09-09T22:59:19.272Z","last_downloaded_at":"2026-09-09T22:59:19.272Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483466","source_sha256":"a5a725a0f630d7946c9cc4ef3650d4714e2a647c262695c0228b6d36ed0c0b20"}},{"citation":"210-20-50-4","para":"50-4","html":"
The information required by paragraph 210-20-50-3 shall be presented in a tabular format, separately for assets and liabilities, unless another format is more appropriate. The total amount disclosed in accordance with paragraph 210-20-50-3(d) for an instrument shall not exceed the amount disclosed in accordance with paragraph 210-20-50-3(c) for that instrument.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For interim and annual reporting periods, the information required by paragraph 210-20-50-3 shall be presented in a tabular format, separately for assets and liabilities, unless another format is more appropriate. The total amount disclosed in accordance with paragraph 210-20-50-3(d) for an instrument shall not exceed the amount disclosed in accordance with paragraph 210-20-50-3(c) for that instrument.
","snippet":"The information required by paragraph 210-20-50-3 shall be presented in a tabular format, separately for assets and liabilities, unless another format is more appropriate. The total amount disclosed in accordance with pa…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3531349a779a35d6697c290bc7f919dd1e0bcb6e0f86017cf86cf8c8c72e305b","downloaded_from":"2026-09-09T22:59:19.272Z","last_downloaded_at":"2026-09-09T22:59:19.272Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483466","source_sha256":"a5a725a0f630d7946c9cc4ef3650d4714e2a647c262695c0228b6d36ed0c0b20"}},{"citation":"210-20-50-5","para":"50-5","html":"
An entity shall provide a description of the rights of setoff associated with an entity's recognized assets and recognized liabilities subject to an enforceable master netting arrangement or similar agreement disclosed in accordance with paragraph 210-20-50-3(d), including the nature of those rights.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For interim and annual reporting periods, an entity shall provide a description of the rights of setoff associated with an entity's recognized assets and recognized liabilities subject to an enforceable master netting arrangement or similar agreement disclosed in accordance with paragraph 210-20-50-3(d), including the nature of those rights.
","snippet":"An entity shall provide a description of the rights of setoff associated with an entity's recognized assets and recognized liabilities subject to an enforceable master netting arrangement or similar agreement disclosed i…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:55e1240608fda7ef5684ffce237f4a083389e2d9e21af23cfece7afd0a4f32e1","downloaded_from":"2026-09-09T22:59:19.272Z","last_downloaded_at":"2026-09-09T22:59:19.272Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483466","source_sha256":"a5a725a0f630d7946c9cc4ef3650d4714e2a647c262695c0228b6d36ed0c0b20"}},{"citation":"210-20-50-6","para":"50-6","html":"
If the information required by paragraphs
210-20-50-1 through 50-5
is disclosed in more than a single note to the financial statements, an entity shall cross-reference between those notes.
","snippet":"If the information required by paragraphs 210-20-50-1 through 50-5 is disclosed in more than a single note to the financial statements, an entity shall cross-reference between those notes.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6682d184814168e7629cf2ddb352b50e39f120d79ebfa4ad74164a0c0d6046d4","downloaded_from":"2026-09-09T22:59:19.272Z","last_downloaded_at":"2026-09-09T22:59:19.272Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483466","source_sha256":"a5a725a0f630d7946c9cc4ef3650d4714e2a647c262695c0228b6d36ed0c0b20"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b514a0b897358178afaece88d75b6f47b2295b479818e60f78e913aa6a360869","downloaded_from":"2026-09-09T22:59:19.272Z","last_downloaded_at":"2026-09-09T22:59:19.272Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483466","source_sha256":"a5a725a0f630d7946c9cc4ef3650d4714e2a647c262695c0228b6d36ed0c0b20"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dc5415a4bd3a8ce28aae3784b76989e02c2f09ac4fa76b98125ba13e333a6b86","downloaded_from":"2026-09-09T22:59:19.272Z","last_downloaded_at":"2026-09-09T22:59:19.272Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483466","source_sha256":"a5a725a0f630d7946c9cc4ef3650d4714e2a647c262695c0228b6d36ed0c0b20"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Implementation Guidance","paragraphs":[{"citation":"210-20-55-1","para":"55-1","html":"
This Section provides additional guidance and illustrations that address the application of the disclosures for derivative instruments and other financial instruments.
","snippet":"This Section provides additional guidance and illustrations that address the application of the disclosures for derivative instruments and other financial instruments.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:73a35e3bf703aaaeeac02ba2bf864d640e97937c7276738a50730d748143bf07","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-2","para":"55-2","html":"
Paragraphs 210-20-55-2 through 55-5 superseded by Accounting Standards Update No. 2013-01.
","snippet":"Paragraphs 210-20-55-2 through 55-5 superseded by Accounting Standards Update No. 2013-01.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f862fbfba0284f551346a928b18ac508c155ef4d4ec13c43927984142f5c2746","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-6","para":"55-6","html":"
Instruments disclosed in accordance with paragraph 210-20-50-3 may be subject to different measurement attributes (for example, a payable related to a repurchase agreement may be measured at amortized cost, while a derivative will be measured at fair value). An entity should include instruments at their recognized amounts and describe any resulting measurement differences in the related disclosures.
","snippet":"Instruments disclosed in accordance with paragraph 210-20-50-3 may be subject to different measurement attributes (for example, a payable related to a repurchase agreement may be measured at amortized cost, while a deriv…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cc60b0b55a4bcd919ff0333f3a542d5f168d5057360fbb9c584eb82117bab42c","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-7","para":"55-7","html":"
The disclosures required by paragraph 210-20-50-3(a) relate solely to recognized assets and liabilities within the scope of paragraph 210-20-50-1.
","snippet":"The disclosures required by paragraph 210-20-50-3(a) relate solely to recognized assets and liabilities within the scope of paragraph 210-20-50-1.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3030665f74fb492263cf2612d587e162c93b3af2a23a40ac27709788b995ac49","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-8","para":"55-8","html":"
Paragraph 210-20-50-3(b) requires that entities disclose the amounts offset in accordance with Sections 210-20-45 and 815-10-45 to determine the net amounts presented in the statement of financial position. The amounts of both the recognized assets and the recognized liabilities subject to setoff under the same arrangement will be disclosed in the respective tables; however, the amounts included in the tables are limited to the amount that is subject to setoff. For example, an entity may have a recognized derivative asset and recognized derivative liability that meet the offsetting guidance in Section 815-10-45. If the gross amount of the derivative asset is larger than the gross amount of the derivative liability, the asset disclosure table will include the entire amount of the derivative asset and the entire amount of the derivative liability. The liability disclosures table, however, will include the entire amount of the derivative liability, but it will only include the amount of the derivative asset equal to the amount of the derivative liability.
","snippet":"Paragraph 210-20-50-3(b) requires that entities disclose the amounts offset in accordance with Sections 210-20-45 and 815-10-45 to determine the net amounts presented in the statement of financial position. The amounts o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7737ef908157d6733e11fb6642d47d1b276717b3c7866779a74d9bed74924780","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-9","para":"55-9","html":"
If an entity has instruments that meet the scope of the disclosures but that do not meet the offsetting guidance in either Section 210-20-45 or Section 815-10-45 or that management does not elect to offset, the amounts required to be disclosed by paragraph 210-20-50-3(c) would equal the amounts required to be disclosed by paragraph 210-20-50-3(a).
","snippet":"If an entity has instruments that meet the scope of the disclosures but that do not meet the offsetting guidance in either Section 210-20-45 or Section 815-10-45 or that management does not elect to offset, the amounts r…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7cc3e01134c8b39ffa3810f778c95623a24e238ca0f9e11e4a7e5ada2593f03b","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-10","para":"55-10","html":"
The amounts required by paragraph 210-20-50-3(c) must be reconciled to the individual line item amount(s) presented in the statement of financial position. For example, if an entity determines that the aggregation or disaggregation of individual financial statement line items provides more relevant information, it must reconcile the aggregated or disaggregated amounts disclosed in accordance with paragraph 210-20-50-3(c) to the statement of financial position.
","snippet":"The amounts required by paragraph 210-20-50-3(c) must be reconciled to the individual line item amount(s) presented in the statement of financial position. For example, if an entity determines that the aggregation or dis…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4201117c5d8e17074f536c681d6683355724b3682b41322e11806084104cd1d5","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-10A","para":"55-10A","html":"
An entity also may elect to include all recognized derivatives accounted for in accordance with Topic 815, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions in the scope of paragraph 210-20-50-1 to reconcile to the individual line-item amount(s) presented in the statement of financial position. For instruments not subject to an enforceable master netting arrangement or similar agreement, the amounts disclosed in accordance with paragraph 210-20-50-3(a) would equal the amounts disclosed for those instruments in accordance with both paragraph 210-20-50-3(c) and paragraph 210-20-50-3(e).
","snippet":"An entity also may elect to include all recognized derivatives accounted for in accordance with Topic 815, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securitie…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2a735ed28bbbe49bfe689d3f79bb8de2d6a33800cdf235ccd2d8c25bf15b189b","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-11","para":"55-11","html":"
Paragraph 210-20-50-3(d) requires that entities disclose other amounts for instruments that are within the scope of paragraph 210-20-50-1 but are not included in paragraph 210-20-50-3(b). These amounts include those that meet the guidance in either Section 210-20-45 or Section 815-10-45 to qualify for offsetting but management elects not to offset.
","snippet":"Paragraph 210-20-50-3(d) requires that entities disclose other amounts for instruments that are within the scope of paragraph 210-20-50-1 but are not included in paragraph 210-20-50-3(b). These amounts include those that…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4753bbae6b2d99208529f385ab03281d19b5b3139de481bc310b0eb0ba45fb31","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-12","para":"55-12","html":"
An entity should also disclose the fair value amounts related to cash or financial instrument collateral received or pledged (see paragraph 210-20-50-3(d)(2)).
","snippet":"An entity should also disclose the fair value amounts related to cash or financial instrument collateral received or pledged (see paragraph 210-20-50-3(d)(2)).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:463c56ea8fc7016db2374f95f05d6f53f4e39bb794cce0b8396f670837a8b5b6","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-13","para":"55-13","html":"
When disclosing amounts in accordance with paragraph 210-20-50-3(d), an entity must take into account the effect of overcollateralization by instrument. To do so, an entity must first deduct the amounts disclosed in accordance with paragraph 210-20-50-3(d)(1) from the amount disclosed in accordance with paragraph 210-20-50-3(c). An entity should then limit the amounts disclosed in accordance with paragraph 210-20-50-3(d)(2) to the remaining amount for the related instrument. However, if rights to collateral can be enforced across financial instruments, such rights may be included in the disclosure provided in accordance with 210-20-50-3(d).
","snippet":"When disclosing amounts in accordance with paragraph 210-20-50-3(d), an entity must take into account the effect of overcollateralization by instrument. To do so, an entity must first deduct the amounts disclosed in acco…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c9137742142053a26bc28a9d0dce9ae8a2ed2e6a1faeb96dded4b1526af1d29a","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-14","para":"55-14","html":"
An entity should describe the types of rights of setoff and similar agreements disclosed in accordance with paragraph 210-20-50-3(d), including the nature of those rights. For example, for a conditional right of setoff, an entity should describe the related condition(s). For any financial collateral received or pledged, an entity should describe the terms of the collateral agreement (for example, when the collateral is restricted).
","snippet":"An entity should describe the types of rights of setoff and similar agreements disclosed in accordance with paragraph 210-20-50-3(d), including the nature of those rights. For example, for a conditional right of setoff, …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c4730cad7f45160a39c9c64ac1efe26ffb9407fe40dd9b459333c02f2b970d80","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-15","para":"55-15","html":"
The disclosures required by paragraph 210-20-50-3(a) through (e) may be grouped by type of instrument or transaction (for example, derivatives, repurchase and reverse agreements, and securities borrowing and lending agreements).
","snippet":"The disclosures required by paragraph 210-20-50-3(a) through (e) may be grouped by type of instrument or transaction (for example, derivatives, repurchase and reverse agreements, and securities borrowing and lending agre…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f7e75704d135bfcb64bd0e18f28c4c8f9a0635b9f0ceca5eed772c2cf87fb5a6","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-16","para":"55-16","html":"
Alternatively, an entity may group the information required by paragraph 210-20-50-3(a) through (c) by type of instrument and paragraph 210-20-50-3(c) through (e) by counterparty. If an entity provides the required information by counterparty, the entity is not required to identify the counterparties by name. However, designation of the counterparties (Counterparty A, Counterparty B, Counterparty C, and so forth) should remain consistent from year to year to maintain comparability, and qualitative disclosures should be considered to give further information about the types of counterparties. When disclosure of the amounts in paragraph 210-20-50-3(c) through (e) is provided by counterparty, the amounts related to individually significant counterparties with respect to total counterparty amounts should be separately disclosed, and the remaining individually insignificant counterparties should be aggregated into one line item.
","snippet":"Alternatively, an entity may group the information required by paragraph 210-20-50-3(a) through (c) by type of instrument and paragraph 210-20-50-3(c) through (e) by counterparty. If an entity provides the required infor…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f74fe4e917448d2698e249fa865288fb0daf86edf712a0e4312cf36e37df4b72","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-17","para":"55-17","html":"
The disclosures required by paragraphs
210-20-50-3 through 50-5
are minimum requirements, and to meet the objective in paragraph 210-20-50-2 an entity may need to supplement the disclosures with additional (qualitative) disclosures depending on the terms of the enforceable master netting arrangements and related agreements, including the nature of the rights of setoff and their effect or potential effect on the entity's financial position.
","snippet":"The disclosures required by paragraphs 210-20-50-3 through 50-5 are minimum requirements, and to meet the objective in paragraph 210-20-50-2 an entity may need to supplement the disclosures with additional (qualitative) …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a9f230870001ed1e56d6b3b3848878a9fac3d65df8ec0f30066a5e0adb6fcd7f","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-18","para":"55-18","html":"
An entity should present the disclosures in a manner that clearly explains to users of its financial statements the nature of rights of setoff and related arrangements and their effect on the entity's assets and liabilities in the scope of paragraph 210-20-50-1 and its financial position. An entity should determine how much detail it must provide to satisfy the disclosure requirements. The entity must strike a balance between obscuring important information because of excessive aggregation and obscuring important information because of excessive detail that may not help users of financial statements to understand the entity's financial position. For example, an entity should not disclose information that is so aggregated that it obscures important differences between the different types of rights of setoff or related arrangements.
","snippet":"An entity should present the disclosures in a manner that clearly explains to users of its financial statements the nature of rights of setoff and related arrangements and their effect on the entity's assets and liabilit…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad4937d32f8e6279fac86cd93364f76f3b9dec408df391617c2daecf6eb85ac7","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-18A","para":"55-18A","html":"
Cash on deposit at a financial institution shall be considered by the depositor as cash rather than as an amount owed to the depositor.
","snippet":"Cash on deposit at a financial institution shall be considered by the depositor as cash rather than as an amount owed to the depositor.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:84d9d0f60461c832ced16602393f546816b40a8a4073b2b6563df7adc3776b2a","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2b17d3f6987c03631ace7611cf8f0de223eaa02e5c360917e549a62a027f2966","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"210-20-55-19","para":"55-19","html":"
The following Examples illustrate ways to meet the quantitative disclosure requirements in paragraphs
210-20-50-1 through 50-5
by type of financial instrument or other derivative instrument.
","snippet":"The following Examples illustrate ways to meet the quantitative disclosure requirements in paragraphs 210-20-50-1 through 50-5 by type of financial instrument or other derivative instrument.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b4af92ad7baf7c8627f7ce64670ae4fc597913a52581ded45c35a7c3925cb3c1","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-20","para":"55-20","html":"
In this Example, the reporting entity has entered into transactions subject to an enforceable master netting arrangement or other similar agreement with the following counterparties. The reporting entity has the following recognized financial assets and financial liabilities resulting from those transactions that meet the scope of the disclosure requirements in paragraph 210-20-50-1. This Example has the following assumptions.
  1. a
    Counterparty A:
    1. 1
      The reporting entity has a derivative asset (fair value of $100 million) and a derivative liability (fair value of $80 million) with Counterparty A. Assume that the entity qualifies for and makes an accounting policy election to offset in accordance with Section 815-10-45. Cash collateral also has been received from Counterparty A for a portion of the net derivative asset ($10 million). The derivative liability and the cash collateral received are set off against the derivative asset in the statement of financial position, resulting in the presentation of a net derivative asset of $10 million.
  2. b
    Counterparty B:
    1. 1
      The reporting entity had entered into a sale and repurchase agreement with Counterparty B that is accounted for as a collateralized borrowing. The carrying value of the financial asset (bonds) used as collateral and held by the reporting entity for the transaction is $79 million, and their fair value is $85 million. The carrying value of the collateralized borrowing (repo payable) is $80 million.
    2. 2
      The reporting entity also has entered into a reverse sale and repurchase agreement with Counterparty B that is accounted for as a collateralized lending. The fair value of the asset (bonds) received as collateral (and not recognized in the statement of financial position) is $105 million. The carrying value of the secured lending (reverse repo receivable) is $90 million.
    3. 3
      Assume that the transactions are not offset.
","snippet":"In this Example, the reporting entity has entered into transactions subject to an enforceable master netting arrangement or other similar agreement with the following counterparties. The reporting entity has the followin…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3725ab8356b37257e6ce7e49d672f2402ec739ffe89555b00a52256445436f1b","downloaded_from":"2026-09-09T22:59:22.298Z","last_downloaded_at":"2026-09-09T22:59:22.298Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483444","source_sha256":"4d1483575d901365ba2d7942875d8534f14deda1524fa71789d3d27d618bf300"}},{"citation":"210-20-55-21","para":"55-21","html":"
The following table illustrates how an entity might provide the quantitative disclosure requirements in paragraph 210-20-50-3(a) through (c) by type of instrument and the information required in paragraph 210-20-50-3(c) through (e) by counterparty.
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The following table illustrates how a sophisticated entity that engages in significant derivative activity might provide the quantitative disclosure requirements in paragraph 210-20-50-3(a) through (c) by type of instrument and paragraph 210-20-50-3(c) through (e) by type of counterparty. In this Example, the entity further disaggregates the derivative line item by type of contract as discussed in paragraph 815-10-50-4D, with further disaggregation based on how the derivative is transacted.
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For guidance on accounting for pension plan assets and liabilities, see Subtopic 715-30.
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For guidance on accounting for plan assets and liabilities, see Subtopic 715-60.
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For guidance on amounts reported for net tax assets or liabilities, see Subtopic 740-10.
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For guidance on derivative instruments with the right to reclaim cash collateral or the obligation to return cash collateral, see paragraphs
815-10-45-1 through 45-7
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For guidance on leveraged leases, see Section 842-50-35.
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For guidance on advances received on construction contracts, see Subtopic 910-405.
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For guidance on trade date accounting for trading portfolio positions, see Subtopic 940-320.
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For guidance on reciprocal balances with other banks, see paragraph 942-210-45-3A.
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Paragraph superseded on 07/02/2014 after the end of the transition period stated in Accounting Standards Update No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities.
","snippet":"Paragraph superseded on 07/02/2014 after the end of the transition period stated in Accounting Standards Update No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c84ff78a2b68a10d1747ad3ed4179d18db111353defaf1932f6840c0ba024616","downloaded_from":"2026-09-09T22:59:28.992Z","last_downloaded_at":"2026-09-09T22:59:28.992Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483441","source_sha256":"21554aa72e80a6c0d3edf8d5ccbed8f4b9eb126fe639a8869ff667e2362ca335"}},{"citation":"210-20-65-2","para":"65-2","html":"
Paragraph superseded on 07/02/2014 after the end of the transition period stated in Accounting Standards Update No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.
","snippet":"Paragraph superseded on 07/02/2014 after the end of the transition period stated in Accounting Standards Update No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liab…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3be1f054b49878866edf8ac3842c038f7671b80bf76499401afecb701540018d","downloaded_from":"2026-09-09T22:59:28.992Z","last_downloaded_at":"2026-09-09T22:59:28.992Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483441","source_sha256":"21554aa72e80a6c0d3edf8d5ccbed8f4b9eb126fe639a8869ff667e2362ca335"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad6410f9d182bf701aed4f0b47cb491a53bc0c9b4edb8f41ca06e7ede848c95a","downloaded_from":"2026-09-09T22:59:28.992Z","last_downloaded_at":"2026-09-09T22:59:28.992Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483441","source_sha256":"21554aa72e80a6c0d3edf8d5ccbed8f4b9eb126fe639a8869ff667e2362ca335"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e150d3306f6cebd8708bf13a87b0a2560bb3b5d5a799296f92cfb2caf6f89121","downloaded_from":"2026-09-09T22:59:28.992Z","last_downloaded_at":"2026-09-09T22:59:28.992Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483441","source_sha256":"21554aa72e80a6c0d3edf8d5ccbed8f4b9eb126fe639a8869ff667e2362ca335"}}],"enrichment":{"summary":"ASC 210-20 states the general principle that offsetting assets and liabilities on the balance sheet is improper unless a right of setoff exists, and sets the four conditions for a right of setoff (210-20-45-1): two parties owe each other determinable amounts, the reporting party has the right to set off, intends to set off, and the right is enforceable at law (including in bankruptcy). It also provides a narrow exception permitting (but not requiring) offsetting of payables and receivables under same-counterparty, same-settlement-date repurchase and reverse repurchase agreements accounted for as collateralized borrowings that meet all conditions in 210-20-45-11, and it imposes extensive netting disclosures for derivatives, repos/reverse repos, and securities borrowing/lending subject to enforceable master netting arrangements.","key_points":["Offsetting is improper unless a right of setoff exists; all four conditions of 210-20-45-1 must be met (mutual determinable amounts owed, right to set off, intent to set off, and enforceability at law), and a debtor with a valid right of setoff may report the net amount (210-20-45-2).","Ability to set off is not enough: if the reporting party does not intend to set off, net presentation is not representationally faithful (210-20-45-4); intent is evidenced by management's acknowledgment and, if applicable, demonstrated execution of setoff in similar situations (210-20-45-5).","'Enforceable at law' means the right should be upheld in bankruptcy; offsetting is appropriate only if all available positive and negative evidence gives reasonable assurance the right would be upheld in bankruptcy, considering state law and the U.S. Bankruptcy Code (210-20-45-8 and 45-9).","Cash or other assets generally may not be offset against taxes or other amounts owed to governmental bodies, except where the purchase of tax-acceptable government securities is in substance a prepayment of taxes payable in the near future (210-20-45-6 through 45-7).","Notwithstanding the intent condition, an entity may elect to offset repo payables against reverse repo receivables accounted for as collateralized borrowings only if all conditions of 210-20-45-11 are met (same counterparty, same explicit settlement date, master netting arrangement, book entry securities, qualifying securities transfer system and banking arrangements, and same settlement account); the election must be applied consistently and net receivables may not be offset against net payables (210-20-45-12).","Where maturities differ, only the party with the nearer maturity may offset (210-20-45-3); the general two-party setoff principle is not modified by the specialized offsetting regimes listed in 210-20-15-3 (e.g., 715-30, 715-60, 740-10, 815-10-45-1 through 45-7, 842-50).","Entities must disclose, in tabular format separately for assets and liabilities, gross amounts, amounts offset, net amounts presented, amounts subject to an enforceable master netting arrangement not otherwise offset (including financial and cash collateral), and the resulting net amount (210-20-50-3 and 50-4), plus a description of the nature of the rights of setoff (210-20-50-5)."],"categories":["Presentation","Disclosure","Financial instruments","Derivatives and hedging"],"audience_level":"intermediate","student_note":"Balance sheet netting materially shrinks reported assets and liabilities for financial institutions, so examiners love the four-part test in 210-20-45-1. 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Every paragraph in the subtopic — Sections 05, 15, 45, and 50 — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). The subtopic is now an empty shell with no operative guidance; contract asset and contract liability presentation for government contractors is governed by ASC 606 (and ASC 340-40 for related costs).","concepts":["superseded guidance","federal government contractors","balance sheet classification","contract assets and contract liabilities","unbilled receivables","progress payments","revenue recognition transition"],"categories":["Presentation","Industry-specific","Revenue","Transition and effective dates"],"level":"intermediate","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-912-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Advance Payments Superseded Accounting Standards Update No. 2014-09 05/28/2014
Cost-Plus-Fixed-Fee Contract Superseded Accounting Standards Update No. 2014-09 05/28/2014
912-210-05-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
912-210-15-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
912-210-45-1 through 45-8
 Superseded Accounting Standards Update No. 2014-09 05/28/2014
912-210-50-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
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Every paragraph in the subtopic — Sections 05, 15, 45, and 50 — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). 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Every paragraph in the subtopic — the overview (210-915-05-1), scope (210-915-15-1), and other presentation guidance (210-915-45-1) — was superseded by ASU 2014-10. As a result, there is no remaining incremental balance sheet presentation requirement for development stage entities; such entities follow the same guidance in ASC 210 as any other entity.","concepts":["development stage entity","superseded guidance","balance sheet presentation","inception-to-date information","classified balance sheet"],"categories":["Presentation","Financial statement presentation","Transition and effective dates"],"level":"introductory","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-915-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
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Every paragraph in the subtopic — the overview (210-915-05-1), scope (210-915-15-1), and other presentation guidance (210-915-45-1) — was superseded by ASU 2014-10. As a result, there is no remaining incremental balance sheet presentation requirement for development stage entities; such entities follow the same guidance in ASC 210 as any other entity.","key_points":["All content of this subtopic is superseded: 210-915-05-1, 210-915-15-1, and 210-915-45-1 were each superseded by Accounting Standards Update No. 2014-10.","ASU 2014-10 eliminated the concept of a development stage entity from U.S. GAAP, removing the incremental presentation requirements formerly housed in the 915 subtopics.","Because the subtopic is empty, a development stage entity presents its balance sheet under the general guidance of ASC 210, with no special labeling or inception-to-date column.","The superseded status matters for comparative or pre-adoption financial statements; historical filings prepared before ASU 2014-10 may still reflect the former development stage entity presentation."],"categories":["Presentation","Financial statement presentation","Transition and effective dates"],"audience_level":"introductory","student_note":"Know that \"development stage entity\" is no longer a GAAP reporting category — ASU 2014-10 wiped out the 915 subtopics, including this one. The common mistake is citing the old development stage entity presentation rules (e.g., cumulative amounts since inception) as if they were still authoritative.","related_topics":["210-10","915","275","810"],"key_concepts":["development stage entity","superseded guidance","balance sheet presentation","inception-to-date information","classified balance sheet"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:be64fdadc2532f256258a18a04b4075604503d84a10025e6f4c7f6a044274d45","downloaded_from":"2026-09-09T22:59:54.936Z","last_downloaded_at":"2026-09-09T23:00:06.175Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"205-915","title":"Development Stage Entities","topic_title":"Presentation of Financial 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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).","concepts":["offsetting","right of setoff","balance sheet presentation","brokers and dealers","net presentation","combining of amounts"],"categories":["Presentation","Financial statement presentation","Industry-specific","Financial instruments"],"level":"intermediate","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-940-00-1","para":"00-1","html":"
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
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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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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic; see Section 940-10-15.
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See Section 210-20-45 for guidance on offsetting.
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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 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Dealers","topic_title":"Consolidation","score":0.7195,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dfc183c757a125d6659be5b9abc1f63c02e79ab06632e69578ec13af365fc622","downloaded_from":"2026-09-10T01:31:19.412Z","last_downloaded_at":"2026-09-10T01:31:31.139Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"940-20","title":"Broker-Dealer Activities","topic_title":"Financial Services—Brokers and Dealers","score":0.7057,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2ba0bacf68173cca1703e608b9ed377529dc96abf64915a31f2cfaaf38fafb9b","downloaded_from":"2026-09-10T02:13:27.861Z","last_downloaded_at":"2026-09-10T02:13:58.835Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"340-940","title":"Financial Services—Brokers and Dealers","topic_title":"Other Assets and Deferred 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Lending","area":"Presentation","paragraphs":13,"summary":"This Subtopic governs how depository and lending institutions offset and combine amounts on the balance sheet. Its core rules: unearned premiums and unpaid claims on credit life and credit accident and health insurance issued to finance customers are deducted from finance receivables in consolidation (or the net amount presented with adequate note disclosure), while unpaid claims on property and level term life insurance—and credit coverage on receivables owned by unrelated entities—must be presented as liabilities. Reciprocal balances with another financial institution are offset only if they will be offset in the process of collection or payment, and restrictions on cash balances must be disclosed.","concepts":["offsetting","finance receivables","unearned premiums","unpaid claims","credit life insurance","reciprocal balances","compensating balances","restricted cash"],"categories":["Presentation","Industry-specific","Disclosure","Financial statement presentation"],"level":"intermediate","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-942-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
942-210-45-3 Amended Accounting Standards Update No. 2018-09 07/16/2018
942-210-45-3A Added Maintenance Update 2017-21 (PDF) 12/22/2017
942-210-50-1 Added Maintenance Update 2017-21 (PDF) 12/22/2017
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n942-210-45-3 | Amended | Accounting Standards Update No. 2018-09 | 07/16/2018 |\n942-210-…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7f7b0d6e4428dac1f14397f5adb2307d0dfb7fead2325b4de5ea33979d3b98f7","downloaded_from":"2026-09-09T23:00:23.086Z","last_downloaded_at":"2026-09-09T23:00:23.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478714","source_sha256":"b2ce72ea25287f106c7bbc114360a167ab4a69775c39081571bc0a2a7636f40d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7a1cee588697cabe0fc04d8a4e9156845e133a1321f371637343697d7b28e7b8","downloaded_from":"2026-09-09T23:00:23.086Z","last_downloaded_at":"2026-09-09T23:00:23.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478714","source_sha256":"b2ce72ea25287f106c7bbc114360a167ab4a69775c39081571bc0a2a7636f40d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6848698af7b30bff4b4a39eda7624dfc7d46a1d3aba08d97dd041230369b9ab3","downloaded_from":"2026-09-09T23:00:23.086Z","last_downloaded_at":"2026-09-09T23:00:23.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478714","source_sha256":"b2ce72ea25287f106c7bbc114360a167ab4a69775c39081571bc0a2a7636f40d"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-942-05-1","para":"05-1","html":"
This Subtopic provides guidance on the offsetting and combining of amounts in the balance sheet of a financial institution.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 942-10-15.
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Unearned premiums and unpaid claims on certain insurance coverage issued to finance customers by a subsidiary may represent intra-entity items because premiums are added to the consumer loan account, which is in turn classified as a receivable until paid, and most or all of the payments on claims are applied to reduce the related finance receivables. Therefore, unearned premiums and unpaid claims on certain credit life and credit accident and health insurance policies issued to finance customers shall be deducted from finance receivables in the consolidated balance sheet. Alternatively, the balance sheet may present only the net finance receivables if the notes to the financial statements contain sufficient disclosure of unearned premiums and unpaid claims and the allowance for losses. Unearned premiums and unpaid claims for credit life and accident and health coverage shall not be applied in consolidation against related finance receivables for which the related receivables are assets of unrelated entities. In those circumstances, such amounts shall be presented as liabilities.
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In the consolidated financial statements, unpaid claims for property insurance and level term life insurance shall not be offset against related finance receivables because finance companies generally do not receive substantially all proceeds of such claims. That prohibition also applies to credit life and accident and health coverage written on policies for which the related receivables are assets of unrelated entities. In those circumstances, such amounts shall be presented as liabilities.
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See Section 210-20-45 for guidance on offsetting.
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A financial institution that accepts deposits may have balances due from the same financial institution from which it has accepted a deposit, also called reciprocal balances. Reciprocal account balances shall be offset if they will be offset in the process of collection or payment. Overdrafts of such accounts shall be reclassified as liabilities, unless the financial institution has other accounts at the same financial institution against which such overdrafts can be offset.
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If deposits in other institutions are material, then deposits shall be presented as a separate amount in the balance sheet.
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Restrictions on the use or availability of certain cash balances, such as deposits with a Federal Reserve Bank, Federal Home Loan Bank, or correspondent financial institutions to meet reserve requirements or deposits under formal compensating balance agreements, shall be disclosed in the notes to the financial statements.
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The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
942-210-S99-1AmendedAccounting Standards Update No. 2021-0608/09/2021
942-210-S99-1AmendedAccounting Standards Update No. 2019-0707/26/2019
942-210-S99-1AmendedAccounting Standards Update No. 2009-0709/15/2009
942-210-S99-1AmendedAccounting Standards Update No. 2010-2108/02/2010
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n942-210-S99-1 | Amended | Accounting Standards Update No. 2021-06 | 08/09/2021 |\n942-210…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c514cafcb68402a1651e96b60cec4919eded8a2486e9e819cde9972e141cf11a","downloaded_from":"2026-09-09T23:00:39.680Z","last_downloaded_at":"2026-09-09T23:00:39.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477239","source_sha256":"f17bd1dbd7bb8f248a113e0e12845f74e1ad19acddd39299d0f1e0095070a37a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7ead902413336e6a7dab6c15d787f0cbb92a004d39f0b9f648839094eb30cd54","downloaded_from":"2026-09-09T23:00:39.680Z","last_downloaded_at":"2026-09-09T23:00:39.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477239","source_sha256":"f17bd1dbd7bb8f248a113e0e12845f74e1ad19acddd39299d0f1e0095070a37a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d14c05e401a1fc37066bcabca8f190c1a6a559ba37310228ad43c7f03526a174","downloaded_from":"2026-09-09T23:00:39.680Z","last_downloaded_at":"2026-09-09T23:00:39.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477239","source_sha256":"f17bd1dbd7bb8f248a113e0e12845f74e1ad19acddd39299d0f1e0095070a37a"}},{"number":"S45","label":"SEC 45 Other Presentation Matters","anchor":"sec-45-other-presentation-matters","is_sec":true,"groups":[{"block":null,"heading":"Items Required to Be Presented on the Face of the Balance Sheet or in the Notes Thereto","paragraphs":[{"citation":"210-942-S45-1","para":"S45-1","html":"
See paragraph 942-210-S99-1, Regulation S-X Rule 9-03, for rules on items required to be presented on the face of the balance sheet or in the related financial statement footnotes.
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See paragraph 942-210-S99-1, Regulation S-X Rule 9-03, for rules on items required to be disclosed in the financial statement footnotes.
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The following is the text of Regulation S-X Rule 9-03, Balance Sheets (17 CFR 210.9-03).
","snippet":"The following is the text of Regulation S-X Rule 9-03, Balance Sheets (17 CFR 210.9-03).\nThe purpose of this rule is to indicate the various items which, if applicable, should appear on the face of the balance sheets or …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:748c1736e813a391c24f72bb035e165b665cc480f612fbb6873fe0dcdb95228b","downloaded_from":"2026-09-09T23:00:53.507Z","last_downloaded_at":"2026-09-09T23:00:53.507Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478546","source_sha256":"d6e6664a6006687c67bb45cac9698a8b724c9c7ed4552f3fabda698d812feb00"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8cde8f646202ff4ad88da2c626d66e88aeb177c183e14ba5c69fe100fd7da30","downloaded_from":"2026-09-09T23:00:53.507Z","last_downloaded_at":"2026-09-09T23:00:53.507Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478546","source_sha256":"d6e6664a6006687c67bb45cac9698a8b724c9c7ed4552f3fabda698d812feb00"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:534dfec519198012956015ee4db7e44d5b13d44cba10a75262dedfcd3577352e","downloaded_from":"2026-09-09T23:00:53.507Z","last_downloaded_at":"2026-09-09T23:00:53.507Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478546","source_sha256":"d6e6664a6006687c67bb45cac9698a8b724c9c7ed4552f3fabda698d812feb00"}}],"enrichment":{"summary":"This Subtopic governs how depository and lending institutions offset and combine amounts on the balance sheet. Its core rules: unearned premiums and unpaid claims on credit life and credit accident and health insurance issued to finance customers are deducted from finance receivables in consolidation (or the net amount presented with adequate note disclosure), while unpaid claims on property and level term life insurance—and credit coverage on receivables owned by unrelated entities—must be presented as liabilities. Reciprocal balances with another financial institution are offset only if they will be offset in the process of collection or payment, and restrictions on cash balances must be disclosed.","key_points":["Unearned premiums and unpaid claims on credit life and credit accident and health policies issued to finance customers are intra-entity in substance and shall be deducted from finance receivables in the consolidated balance sheet (210-942-45-1).","Alternatively, only net finance receivables may be presented if the notes sufficiently disclose unearned premiums, unpaid claims, and the allowance for losses (210-942-45-1).","Credit life and accident and health amounts relating to receivables that are assets of unrelated entities shall not be offset and shall be presented as liabilities (210-942-45-1; 210-942-45-2).","Unpaid claims for property insurance and level term life insurance shall not be offset against related finance receivables because finance companies generally do not receive substantially all proceeds of such claims (210-942-45-2).","Reciprocal account balances with a financial institution shall be offset if they will be offset in the process of collection or payment; overdrafts are reclassified as liabilities unless other accounts at the same institution are available for offset (210-942-45-3A).","Material deposits in other institutions shall be presented as a separate amount on the balance sheet (210-942-45-4).","Restrictions on the use or availability of cash balances—e.g., Federal Reserve Bank or FHLB reserve deposits and formal compensating balance agreements—shall be disclosed in the notes (210-942-50-1)."],"categories":["Presentation","Industry-specific","Disclosure","Financial statement presentation"],"audience_level":"intermediate","student_note":"The recurring trap is assuming all insurance-related balances can be netted against finance receivables: offsetting is permitted only where the entity effectively receives substantially all the claim proceeds (credit life and credit A&H on its own receivables), not for property or level term life insurance or coverage on receivables held by unrelated parties. Also remember overdrafts on reciprocal accounts flip to liabilities absent other offsettable accounts at the same institution.","related_topics":["210-20","942-10","942-405","944","230-10"],"key_concepts":["offsetting","finance receivables","unearned premiums","unpaid claims","credit life insurance","reciprocal balances","compensating balances","restricted cash"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4c1dfe065be9d5f1801cf4b58e05d5db895b6ddcd3c4cb4a6e9fca64f6503e3a","downloaded_from":"2026-09-09T23:00:23.086Z","last_downloaded_at":"2026-09-09T23:00:53.507Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"210-944","title":"Financial Services—Insurance","topic_title":"Balance Sheet","score":0.9151,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:09d0994bbcc627230cf8e8703bfc9d613860154dd4eb9b12ef09a61f16fe502d","downloaded_from":"2026-09-09T23:00:55.233Z","last_downloaded_at":"2026-09-09T23:01:22.901Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-946","title":"Financial Services—Investment Companies","topic_title":"Balance Sheet","score":0.8488,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bca45f83fde3bdc150ea0e59fe228fd481eff16941bd3fdddf4a92bab1bc202b","downloaded_from":"2026-09-09T23:01:25.620Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"235-942","title":"Financial Services—Depository and Lending","topic_title":"Notes to Financial Statements","score":0.8208,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac0c923dd9520ee1cedd32b0cc056691f6beb974fcf3ad1982e3a804afac4efa","downloaded_from":"2026-09-09T23:15:55.670Z","last_downloaded_at":"2026-09-09T23:16:07.394Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-10","title":"Overall","topic_title":"Balance Sheet","score":0.8207,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:40ef511cad218a68b36d780f5a850e5f8b72748c5f1f523ad65f86e9f056f78f","downloaded_from":"2026-09-09T22:58:18.165Z","last_downloaded_at":"2026-09-09T22:59:02.715Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-20","title":"Offsetting","topic_title":"Balance Sheet","score":0.7905,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5586d05b61316fea7e92a770b88f3c7b5eb55398e2210ac5a27e1cf749cf88d3","downloaded_from":"2026-09-09T22:59:04.667Z","last_downloaded_at":"2026-09-09T22:59:32.460Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"235-946","title":"Financial Services—Investment Companies","topic_title":"Notes to Financial Statements","score":0.7874,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eada46989fc92281a3be6021fa63bf60bbe69c98cdec4f4746828b986e96a9cb","downloaded_from":"2026-09-09T23:16:22.805Z","last_downloaded_at":"2026-09-09T23:16:36.179Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"210-940","title":"Financial Services—Brokers and Dealers","topic_title":"Balance Sheet","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:68ca76e8d69c92951d9dfa3395ef0cfc9b3dbd0ed9c195d325be3c6b3cf28ec8","downloaded_from":"2026-09-09T23:00:09.218Z","last_downloaded_at":"2026-09-09T23:00:19.125Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6f2c538fddd470d106abe4901a47757fcf24cf1be76154bf7289198128a87f78","downloaded_from":"2026-09-09T23:00:23.086Z","last_downloaded_at":"2026-09-09T23:00:53.507Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-944","topic":"210","title":"Financial Services—Insurance","area":"Presentation","paragraphs":18,"summary":"This Subtopic addresses balance sheet presentation for insurance entities, focusing on when reinsurance-related balances may be offset. The core rule is that amounts payable to a policyholder and amounts recoverable from a reinsurer cannot be offset because the right of setoff under 210-20-45-1(b) requires amounts owed to and receivable from the *same* party. By contrast, balances arising between the ceding and assuming entities under a reinsurance contract may qualify for offsetting if the Subtopic 210-20 conditions are met.","concepts":["right of setoff","reinsurance recoverable","ceding entity","assuming entity","funds withheld","gross presentation","policyholder liability","offsetting"],"categories":["Presentation","Industry-specific","Financial statement presentation"],"level":"intermediate","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-944-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
ReinsuranceAddedAccounting Standards Update No. 2016-1912/14/2016
944-210-55-1AmendedAccounting Standards Update No. 2016-1912/14/2016
944-210-55-2AmendedAccounting Standards Update No. 2016-1912/14/2016
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nReinsurance | Added | Accounting Standards Update No. 2016-19 | 12/14/2016 |\n| | | |\n944…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5c285b078283b6447f8fe4bc581915f083b8380f672ee026d4e75573952ed63a","downloaded_from":"2026-09-09T23:00:55.233Z","last_downloaded_at":"2026-09-09T23:00:55.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478830","source_sha256":"dd094bed721b606b09e937f6f5bf17b8ec0b160a2fd09599deff2e1c15ed385c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fe9db880c5c46e6ccd7d2fd089133c20dccf372d42b767a04c71aef3d100ac06","downloaded_from":"2026-09-09T23:00:55.233Z","last_downloaded_at":"2026-09-09T23:00:55.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478830","source_sha256":"dd094bed721b606b09e937f6f5bf17b8ec0b160a2fd09599deff2e1c15ed385c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8f9ba313facb7a681b30c1d4fefa1380891edfdae27a41047758c62f783e17ce","downloaded_from":"2026-09-09T23:00:55.233Z","last_downloaded_at":"2026-09-09T23:00:55.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478830","source_sha256":"dd094bed721b606b09e937f6f5bf17b8ec0b160a2fd09599deff2e1c15ed385c"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-944-05-1","para":"05-1","html":"
This Subtopic provides guidance to insurance entities on balance sheet reporting.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 944-10-15.
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Amounts payable to a policyholder and amounts recoverable from a reinsurer do not meet the criteria for offsetting in Section 210-20-45 because paragraph 210-20-45-1(b) requires that the reporting party have the legal right to set off the amount owed to one party with an amount receivable from that same party.
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Several balances may arise between the ceding and assuming entities in a reinsurance contract, including funds withheld on ceded premiums, commissions, unsettled claims, and funds advanced by the assuming entity. Those items may qualify for offsetting under the conditions established by Subtopic 210-20.
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The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
944-210-S99-1AmendedAccounting Standards Update No. 2019-0707/26/2019
944-210-S99-1AmendedAccounting Standards Update No. 2010-2108/02/2010
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See paragraph 944-210-S99-1, Regulation S-X Rule 7-03 for the required balance sheet presentation for insurance companies.
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See paragraph 944-210-S99-1, Regulation S-X Rule 7-03.13, for the required disclosures pertaining to policy liabilities and accruals.
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See paragraph 944-210-S99-1, Regulation S-X Rule 7-03.20, for the required disclosures pertaining minority interests in consolidated subsidiaries.
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See paragraph 944-210-S99-1, Regulation S-X Rule 7-03.21, for the required disclosures pertaining to redeemable preferred stock.
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See paragraph 944-210-S99-1, Regulation S-X Rule 7-03.22, for the required disclosures pertaining to preferred stocks that are not redeemable or are redeemable solely at the option of the issuer.
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See paragraph 944-210-S99-1, Regulation S-X Rule 7-03.22, for the required disclosures pertaining to common stocks.
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See paragraph 944-210-S99-1, Regulation S-X Rule 7-03.24(c), for the required disclosures pertaining to stockholders' equity.
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See paragraph 205-10-S99-6, Regulation S-X Rule 5-04(c), for the required supplemental schedule concerning property casualty insurance operations.
","snippet":"See paragraph 205-10-S99-6, Regulation S-X Rule 5-04(c), for the required supplemental schedule concerning property casualty insurance operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:635041ed4b9a99717eccd712b489c845923ec6ac27eb05b652732ed7f8381af7","downloaded_from":"2026-09-09T23:01:17.420Z","last_downloaded_at":"2026-09-09T23:01:17.420Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478305","source_sha256":"cd9eb047bbc93289c37ad0618449888ac74e2d6c56e4840dd5bcdbfef8d7aa70"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4430668d9aa70b1854a0563dcfa5fe37b762ebb785d10cf5160459f0f26d98eb","downloaded_from":"2026-09-09T23:01:17.420Z","last_downloaded_at":"2026-09-09T23:01:17.420Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478305","source_sha256":"cd9eb047bbc93289c37ad0618449888ac74e2d6c56e4840dd5bcdbfef8d7aa70"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bdd760339dd381af648fb5b411d2c69b40e3f8372385027787abe02bd341a848","downloaded_from":"2026-09-09T23:01:17.420Z","last_downloaded_at":"2026-09-09T23:01:17.420Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478305","source_sha256":"cd9eb047bbc93289c37ad0618449888ac74e2d6c56e4840dd5bcdbfef8d7aa70"}},{"number":"S99","label":"SEC 99 SEC Materials","anchor":"sec-99-sec-materials","is_sec":true,"groups":[{"block":null,"heading":"SEC Rules, Regulations, and Interpretations","paragraphs":[{"citation":"210-944-S99-1","para":"S99-1","html":"
The following is the text of Regulation S-X Rule 7-03, Balance Sheets (17 CFR 210.7-03).
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The core rule is that amounts payable to a policyholder and amounts recoverable from a reinsurer cannot be offset because the right of setoff under 210-20-45-1(b) requires amounts owed to and receivable from the *same* party. By contrast, balances arising between the ceding and assuming entities under a reinsurance contract may qualify for offsetting if the Subtopic 210-20 conditions are met.","key_points":["This Subtopic provides balance sheet reporting guidance to insurance entities (210-944-05-1) and follows the scope of Section 944-10-15 (210-944-15-1).","Amounts payable to a policyholder and amounts recoverable from a reinsurer fail the offsetting criteria in Section 210-20-45 because 210-20-45-1(b) requires a legal right to set off an amount owed to a party against an amount receivable from that same party (210-944-55-1).","Reinsurance does not relieve the ceding entity of its direct obligation to the policyholder, so the reinsurance recoverable must be reported gross as an asset rather than netted against the policy liability (210-944-55-1).","Balances between the ceding and assuming entities—funds withheld on ceded premiums, commissions, unsettled claims, and funds advanced by the assuming entity—may qualify for offsetting if the conditions in Subtopic 210-20 are satisfied (210-944-55-2)."],"categories":["Presentation","Industry-specific","Financial statement presentation"],"audience_level":"intermediate","student_note":"The classic exam trap is assuming that ceding risk to a reinsurer lets the insurer shrink its balance sheet: it does not, because the policyholder and the reinsurer are different parties, so the recoverable is a gross asset. Offsetting is only possible between the ceding and assuming entities themselves, and only if all of the 210-20 conditions are met.","related_topics":["210-20","944-10","944-40","944-310","944-605","944-20"],"key_concepts":["right of setoff","reinsurance recoverable","ceding entity","assuming entity","funds withheld","gross presentation","policyholder liability","offsetting"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:17985cb43da79df3e9616b1532313d6b8a93dde70ff2212dd57b92e3e5012cb8","downloaded_from":"2026-09-09T23:00:55.233Z","last_downloaded_at":"2026-09-09T23:01:22.901Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"210-942","title":"Financial Services—Depository and Lending","topic_title":"Balance 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retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50937d317858165f158048c92a1f4bcca7a2ba709137d4906c526d891e4c6bc7","downloaded_from":"2026-09-09T23:00:55.233Z","last_downloaded_at":"2026-09-09T23:01:22.901Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-946","topic":"210","title":"Financial Services—Investment Companies","area":"Presentation","paragraphs":54,"summary":"This subtopic governs how an investment company presents its financial position — either a statement of assets and liabilities or a statement of net assets — and the schedule (or condensed schedule) of investments that accompanies it. It sets bright-line disclosure thresholds (1 percent of net assets for registered/other investment companies; 5 percent for nonregistered investment partnerships), special presentation rules for multiple-class, master-feeder, and fund-of-funds structures, and requires contract-value reporting for fully benefit-responsive investment contracts held by qualified defined contribution plan trusts.","concepts":["schedule of investments","condensed schedule of investments","statement of assets and liabilities","master-feeder structure","multiple-class shares","fully benefit-responsive investment contract","contract value","nonregistered investment partnership"],"categories":["Presentation","Disclosure","Industry-specific","Fair value"],"level":"advanced","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-946-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
946-210-45-18A Added Accounting Standards Update No. 2012-04 10/01/2012
946-210-45-20 Added Maintenance Update 2017-21 (PDF) 12/22/2017
946-210-45-21 Amended Maintenance Update 2018-12 (PDF) 09/10/2018
946-210-45-21 Added Maintenance Update 2017-21 (PDF) 12/22/2017
946-210-50-7 Superseded Accounting Standards Update No. 2016-19 12/14/2016
946-210-50-9 Amended Accounting Standards Update No. 2016-19 12/14/2016
946-210-55-1 Amended Accounting Standards Update No. 2016-19 12/14/2016
946-210-55-2 Amended Maintenance Update 2016-11 (PDF) 06/27/2016
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This Subtopic addresses an investment company's reporting of its financial position, including a schedule of investments.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 946-10-15.
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Investment companies report financial position by presenting either a statement of assets and liabilities or a statement of net assets.
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A statement of net assets includes a schedule of investments (see Section 946-210-50). Details of related-party balances and other assets and liabilities shall be presented in the statement of net assets or in the notes to financial statements.
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Management investment companies that have multiple classes of shares or master-feeder structures shall apply the following guidance when preparing a statement of assets and liabilities.
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The composition of net assets shall be reported in total, but net asset value per share and shares outstanding shall be reported for each class.
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Master funds usually are organized as trusts with flow-through accounting treatment to their feeder funds. As such, the statement of assets and liabilities of the master fund usually shall not report the components of net assets, shares outstanding, or net asset value per share. The portfolio of investments shall be included only in the master fund's financial statements.
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Each feeder fund's statement of assets and liabilities shall show an investment in the master fund, which is the sole or principal investment of the feeder fund. The total of all feeder funds' investments in the master fund shall equal the total net assets of the master fund. A schedule of portfolio investments shall not be presented at the feeder level. The net asset value per share, total shares outstanding, and the components of net assets shall be reported. Should the feeder fund have a multiple-class structure, it would report the multiple-class information specified in this Subtopic.
","snippet":"Each feeder fund's statement of assets and liabilities shall show an investment in the master fund, which is the sole or principal investment of the feeder fund. The total of all feeder funds' investments in the master f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d13017aa7218721e759d3757b324f479b26aacd732c855966bdfac9bebafffdc","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-7","para":"45-7","html":"
The reporting fund may list the investee (portfolio) funds directly on the statement of assets and liabilities. Additional disclosures may be required for those funds that hold a mixture of investments in other investment companies and direct investments in securities. However, there is usually no need for a separate schedule of investments. Fund management shall consider if an investment in a single underlying fund is so significant to the fund of funds as to make the presentation of financial statements in a manner similar to a master-feeder fund more appropriate.
","snippet":"The reporting fund may list the investee (portfolio) funds directly on the statement of assets and liabilities. Additional disclosures may be required for those funds that hold a mixture of investments in other investmen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:19f15eed1e631fe79086012ebf53a6080a86dd1caaa46b6891860834aac1f1d3","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b43de65a81371ad69abef33b1ecfb7e532f7b349afca64df52f10d2d28d644c","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"block":null,"heading":"Credit Enhancements","paragraphs":[{"citation":"210-946-45-8","para":"45-8","html":"
Credit enhancements shall be shown as a component of the security description in the schedule of investments.
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This guidance describes the limited circumstances in which the net assets of an investment company (also referred to as a fund) shall reflect the contract value (which generally equals the principal balance plus accrued interest) of certain investments that it holds.
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For purposes of this Subtopic, the term investment contract refers to any of the following:
  1. a
    A traditional or separate account guaranteed investment contract
  2. b
    A bank investment contract
  3. c
    A synthetic guaranteed investment contract composed of a wrapper contract and the underlying wrapped portfolio of individual investments
  4. d
    A contract with similar characteristics.
","snippet":"For purposes of this Subtopic, the term investment contract refers to any of the following:\n(a) A traditional or separate account guaranteed investment contract\n(b) A bank investment contract\n(c) A synthetic guaranteed i…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6552377941e6fc67cbb24196355da8858ed4f5ad9b9ece0975a7f1aaa74062a5","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-11","para":"45-11","html":"
Contract value is the relevant measurement attribute for that portion of the net assets of an investment company attributable to fully benefit-responsive investment contracts provided that the investment company is established under a trust whereby the trust itself is adopted as part of one or more qualified employer-sponsored defined contribution plans (including both health and welfare and pension plans). A qualified plan refers to a plan that qualifies under the U.S. Internal Revenue Code by allowing full or partial tax-deferred contributions and tax-deferred investment gains on those contributions.
","snippet":"Contract value is the relevant measurement attribute for that portion of the net assets of an investment company attributable to fully benefit-responsive investment contracts provided that the investment company is estab…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a43c699bcae5c124903c658e1cf1ebcc826b94a24fcda65ae76962757802e427","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-12","para":"45-12","html":"
In applying the characteristic in item (c) of the definition of fully benefit-responsive investment contract (that is, execution of transaction at contract value), an investment company registered under the Investment Company Act of 1940 would not meet this requirement because Rule 22c-1 under the Act requires transactions between the investment company and its shareholders to be executed at current net asset value. The definition of fully benefit-responsive investment contract includes guidance for determining whether certain restrictions violate the provision that participants in the investment company have reasonable access to their funds. Restrictions that do not violate this provision shall also not be considered to violate the provisions in item (c) of the definition.
","snippet":"In applying the characteristic in item (c) of the definition of fully benefit-responsive investment contract (that is, execution of transaction at contract value), an investment company registered under the Investment Co…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fcf9a173f04ac5be12449281c3b9daa6e847912272daf3326399894c27e3437d","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-13","para":"45-13","html":"
If any portion of an investment company's net assets is held by another investment company, the lower-level (investee) fund shall look through to the higher level (investor) fund in determining whether the lower level fund is within the scope of this guidance.
","snippet":"If any portion of an investment company's net assets is held by another investment company, the lower-level (investee) fund shall look through to the higher level (investor) fund in determining whether the lower level fu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:34f0a2638a64c12d26d8b0d1c27926f3ca62f41c683615db819c72a70b0b8f6d","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-14","para":"45-14","html":"
Under Rule 2a-4 of the Investment Company Act of 1940, current net asset value is computed using the fair value of the investment company's portfolio securities.
","snippet":"Under Rule 2a-4 of the Investment Company Act of 1940, current net asset value is computed using the fair value of the investment company's portfolio securities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bba02a6568d2a8ad6f756200bd9009beee742ea126baed0197defaa88b578da4","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-15","para":"45-15","html":"
The following line items shall be separately reported on the statement of assets and liabilities with a parenthetical reference that such amounts are being reported at fair value:
  1. a
    Investments (including traditional guaranteed investment contracts)
  2. b
    Wrapper contracts.
","snippet":"The following line items shall be separately reported on the statement of assets and liabilities with a parenthetical reference that such amounts are being reported at fair value:\n(a) Investments (including traditional g…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:71b7d0525cbf408f6c2dbd63ea12bb95ec769c1ac8e967342707d17538c154ff","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-16","para":"45-16","html":"
The statement of assets and liabilities of the fund shall present amounts for all of the following:
  1. a
    Total assets
  2. b
    Total liabilities
  3. c
    Net assets reflecting all investments at fair value
  4. d
    Net assets.
Amount (d) represents the amount at which participants can transact with the fund. That amount shall be used also for purposes of preparing the per-share disclosures required by Section 946-205-50 and as the beginning and ending balance in the statement of changes in net assets of the fund. The amount representing the difference between (c) and (d) shall be presented on the face of the statement of assets and liabilities as a single amount, calculated as the sum of the amounts necessary to adjust the portion of net assets attributable to each fully benefit-responsive investment contract from fair value to contract value.
","snippet":"The statement of assets and liabilities of the fund shall present amounts for all of the following:\n(a) Total assets\n(b) Total liabilities\n(c) Net assets reflecting all investments at fair value\n(d) Net assets.\nAmount (d…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9f0f1355fd6bd65ba05f097e3db1fb34bbb076a2647143014051c490a0160b91","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-17","para":"45-17","html":"
The statements of operations and changes in net assets of the fund shall be prepared on a basis that reflects income credited to participants in the fund and realized and unrealized gains and losses only on those investment contracts that are not deemed fully benefit-responsive.
","snippet":"The statements of operations and changes in net assets of the fund shall be prepared on a basis that reflects income credited to participants in the fund and realized and unrealized gains and losses only on those investm…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:835150e223c24494be564dd0067e185463be6b07a7be26b2d3b24680d4da50c7","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-18","para":"45-18","html":"
The following information shall be disclosed in the financial statements as part of the schedule of investments, to the extent that schedule is already required under paragraph 946-210-50-1, and shall reconcile to corresponding line items on the statement of assets and liabilities:
  1. a
    The fair value of each investment contract, including separate disclosure of both of the following:
    1. 1
      The fair value of the wrapper contract
    2. 2
      The fair value of each of the corresponding underlying investments, if held by the fund, included in that investment contract.
  2. b
    Adjustment from fair value to contract value for each investment contract (if the investment contract is fully benefit-responsive)
  3. c
    Major credit ratings of the issuer or wrapper provider for each investment contract.
","snippet":"The following information shall be disclosed in the financial statements as part of the schedule of investments, to the extent that schedule is already required under paragraph 946-210-50-1, and shall reconcile to corres…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2a8b78502a5cb58aa893d1cb2d1d900d3a55c1b830fc89b2ba63e93d7a9e29ed","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-18A","para":"45-18A","html":"
To be considered within the scope of paragraphs
946-210-45-15 through 45-18
, any portion of the net assets of the investment company attributable to a particular plan investee that is not held in trust for the benefit of participants in a qualified employer-sponsored defined-contribution plan is not permitted to increase, except for reinvestment of income earned.
","snippet":"To be considered within the scope of paragraphs 946-210-45-15 through 45-18, any portion of the net assets of the investment company attributable to a particular plan investee that is not held in trust for the benefit of…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:09b7077a44ff850e47c464ff24f0bb36a99e7212b704f8ebce0c0e677059c8cc","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-19","para":"45-19","html":"
Example 2 (see paragraph 946-210-55-2) illustrates the application of this guidance.
","snippet":"Example 2 (see paragraph 946-210-55-2) illustrates the application of this guidance.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b76a120844b584afe38f52d7f918b8e9d97f131e1958da794338dde1fe2603d9","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3e149e2a8efcaea5ca3e987acbe08ba13cda51b82c954e542c7245ecf07d3fdd","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"block":null,"heading":"Cash and Cash Equivalents","paragraphs":[{"citation":"210-946-45-20","para":"45-20","html":"
Cash on hand and demand deposits shall be included under the general caption cash.
","snippet":"Cash on hand and demand deposits shall be included under the general caption cash.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:21e8c3cd8d907ef10cf8193ab204199120247d5a5fe10af027d1e5f85b3e05a0","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"citation":"210-946-45-21","para":"45-21","html":"
Amounts held in foreign currencies shall be presented separately at value, with acquisition cost shown parenthetically.
","snippet":"Amounts held in foreign currencies shall be presented separately at value, with acquisition cost shown parenthetically.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:83f902774830ff2a63cb3da401ec0467f1ac9385e109ba3ed29dd5f54bba25b1","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6553bd66d6105bb68b60e302ae3bc0dd302863a2f3eea4d82fe91bf9ce993977","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:81caa0cf4a0bd14bc45c0594f1dccebd8d73c7a7e639430c199449606376c2c3","downloaded_from":"2026-09-09T23:01:38.323Z","last_downloaded_at":"2026-09-09T23:01:38.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477796","source_sha256":"317ab2d3466475d988369f34ee4a2509d166ed4491434b9783e5f13c0ffe923b"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Schedule of Investments","paragraphs":[{"citation":"210-946-50-1","para":"50-1","html":"
In the absence of regulatory requirements, investment companies other than nonregistered investment partnerships shall do all of the following:
  1. a
    Disclose the name, number of shares, or principal amount of all of the following:
    1. 1
      Each investment (including short sales, written options, futures contracts, forward contracts, and other investment-related liabilities) whose fair value constitutes more than 1 percent of net assets. In applying the 1-percent test, total long and total short positions in any one issuer should be considered separately.
    2. 2
      All investments in any one issuer whose fair values aggregate more than 1 percent of net assets. In applying the 1-percent test, total long and total short positions in any one issuer should be considered separately.
    3. 3
      At a minimum, the 50 largest investments.
  2. b
    Categorize investments by both of the following characteristics:
    1. 1
      The type of investment (such as common stocks, preferred stocks, convertible securities, fixed income securities, government securities, options purchased, options written, warrants, futures contracts, loan participations and assignments, short-term securities, repurchase agreements, short sales, forward contracts, other investment companies, and so forth)
    2. 2
      The related industry, country, or geographic region of the investment.
  3. c
    Disclose the aggregate other investments (each of which is not required to be disclosed by (a)) without specifically identifying the issuers of such investments, and categorize as required by (b). The disclosure shall include both of the following:
    1. 1
      The percent of net assets that each such category represents
    2. 2
      The total value for category in (b)(1) and (b)(2).
","snippet":"In the absence of regulatory requirements, investment companies other than nonregistered investment partnerships shall do all of the following:\n(a) Disclose the name, number of shares, or principal amount of all of the f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:268175a7f78ea0e289ba2d87a52635c8d055168f3613db9e6718b67ffe01a7fc","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-2","para":"50-2","html":"
For required disclosures about any other significant concentration of credit risk, see Section 825-10-50. For example, an international fund that categorizes its investments by industry or geographic region should also report a summary of its investments by country, if such concentration is significant.
","snippet":"For required disclosures about any other significant concentration of credit risk, see Section 825-10-50. For example, an international fund that categorizes its investments by industry or geographic region should also r…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad32b68f4dfc8ad7b4ea5ed8f96d4ac4769ed27baa10ca9d9494785dfb165789","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-3","para":"50-3","html":"
For required disclosures about certain significant estimates, such as use of estimates by directors, general partners, or others in an equivalent capacity to value securities, see Subtopic 275-10.
","snippet":"For required disclosures about certain significant estimates, such as use of estimates by directors, general partners, or others in an equivalent capacity to value securities, see Subtopic 275-10.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f4a1567c2c26499bb632fba79df793f68567f78ba1e7d07f56c7aa8818cd5d9a","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-4","para":"50-4","html":"
Except as noted in the following paragraph, the guidance in paragraph 946-210-50-6 applies to investment partnerships that are exempt from Securities and Exchange Commission (SEC) registration under the Investment Company Act of 1940, which include all of the following:
  1. a
    Hedge funds
  2. b
    Limited liability companies
  3. c
    Limited liability partnerships
  4. d
    Limited duration companies
  5. e
    Offshore investment companies with similar characteristics
  6. f
    Commodity pools subject to regulation under the Commodity Exchange Act of 1974.
","snippet":"Except as noted in the following paragraph, the guidance in paragraph 946-210-50-6 applies to investment partnerships that are exempt from Securities and Exchange Commission (SEC) registration under the Investment Compan…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:358e861f65b99375a2ff8f52c44595d1369847bde631ae8e28658e414985c4c7","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-5","para":"50-5","html":"
The guidance in the following paragraph does not apply to investment partnerships that are brokers and dealers in securities subject to regulation under the Securities Exchange Act of 1934 (registered broker-dealers) and that manage funds only for those who are officers, directors, or employees of the general partner. For guidance applicable to those entities, see Topic 940.
","snippet":"The guidance in the following paragraph does not apply to investment partnerships that are brokers and dealers in securities subject to regulation under the Securities Exchange Act of 1934 (registered broker-dealers) and…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:434853cd52657aef3ebcc3b6527d6a53b90d97fed0016f73c212eafd87b0386d","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-6","para":"50-6","html":"
The financial statements of an investment partnership meeting the condition in paragraph 946-210-50-4 shall, at a minimum, include a condensed schedule of investments in securities owned by the partnership at the close of the most recent period. Such a schedule shall do all of the following:
  1. a
    Categorize investments by all of the following:
    1. 1
      Type (such as common stocks, preferred stocks, convertible securities, fixed-income securities, government securities, options purchased, options written, warrants, futures, loan participations, short sales, other investment companies, and so forth)
    2. 2
      Country or geographic region, except for derivative instruments for which the underlying is not a security (see (a)(4))
    3. 3
      Industry, except for derivative instruments for which the underlying is not a security (see (a)(4))
    4. 4
      For derivative instruments for which the underlying is not a security, by broad category of underlying (for example, grains and feeds, fibers and textiles, foreign currency, or equity indexes) in place of the categories in (a)(2) and (a)(3).
  2. b
    Report the percent of net assets that each such category represents and the total fair value and cost for each category in (a)(1) and (a)(2).
  3. c
    Disclose the name, number of shares or principal amount, fair value, and type of both of the following:
    1. 1
      Each investment (including short sales) constituting more than 5 percent of net assets, except for derivative instruments (see (e) and (f)). In applying the 5-percent test, total long and total short positions in any one issuer should be considered separately.
    2. 2
      All investments in any one issuer aggregating more than 5 percent of net assets, except for derivative instruments (see (e) and (f)). In applying the 5-percent test, total long and total short positions in any one issuer shall be considered separately.
  4. d
    Aggregate other investments (each of which is 5 percent or less of net assets) without specifically identifying the issuers of such investments, and categorize them in accordance with the guidance in (a). In applying the 5-percent test, total long and total short positions in any one issuer shall be considered separately.
  5. e
    Disclose the number of contracts, range of expiration dates, and cumulative appreciation (depreciation) for open futures contracts of a particular underlying (such as wheat, cotton, specified equity index, or U.S. Treasury Bonds), regardless of exchange, delivery location, or delivery date, if cumulative appreciation (depreciation) on the open contracts exceeds 5 percent of net assets. In applying the 5-percent test, total long and total short positions in any one issuer shall be considered separately.
  6. f
    Disclose the range of expiration dates and fair value for all other derivative instruments of a particular underlying (such as foreign currency, wheat, specified equity index, or U.S. Treasury Bonds) regardless of counterparty, exchange, or delivery date, if fair value exceeds 5 percent of net assets. In applying the 5-percent test, total long and total short positions in any one issuer shall be considered separately.
  7. g
    Provide both of the following additional qualitative descriptions for each investment in another nonregistered investment partnership whose fair value constitutes more than 5 percent of net assets:
    1. 1
      The investment objective
    2. 2
      Restrictions on redemption (that is, liquidity provisions).
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Paragraph superseded by Accounting Standards Update No. 2016-19.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2016-19.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0e307ada8ed5f6dd1e2dc4b98fc6502da094f73004f83c01922e023d775368c5","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-8","para":"50-8","html":"
Investments in other investment companies (investees), such as investment partnerships, limited liability companies, and funds of funds, shall be considered investments for purposes of applying paragraph 946-210-50-1(a) through (b)and 946-210-50-6.
","snippet":"Investments in other investment companies (investees), such as investment partnerships, limited liability companies, and funds of funds, shall be considered investments for purposes of applying paragraph 946-210-50-1(a) …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4b547d590312f4b9d07be0f115e1cb2a0840150c44d9dcf5c81093e948e3c032","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-9","para":"50-9","html":"
If the reporting investment company's proportional share of any investment owned by any individual investee exceeds 5 percent of the reporting investment company's net assets at the reporting date, each such investment shall be named and categorized as discussed in paragraph 946-210-50-6. These investee disclosures shall be made either in the condensed schedule of investments (as components of the investment in the investee) or in a note to that schedule.
","snippet":"If the reporting investment company's proportional share of any investment owned by any individual investee exceeds 5 percent of the reporting investment company's net assets at the reporting date, each such investment s…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b881482d26bff60c90857e166da0630b49a2bd747fd9f8cf4b4b54df9134a51","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-10","para":"50-10","html":"
If information about the investee's portfolio is not available, that fact shall be disclosed.
","snippet":"If information about the investee's portfolio is not available, that fact shall be disclosed.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:20998d9c2ffb74cf6f3395bc218dd04ed8d90360fad9ff1cca9f0f8646904043","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-11","para":"50-11","html":"
The terms, conditions, and other arrangements relating to a credit enhancement shall be disclosed in the notes to financial statements.
","snippet":"The terms, conditions, and other arrangements relating to a credit enhancement shall be disclosed in the notes to financial statements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5b1ca4f4a8e78bcee3bbd3c3d6a74d0204b6e571343924d15ed3b667f1da8505","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-12","para":"50-12","html":"
For a put option provided by an affiliate, the schedule of investments shall describe the put as from an affiliate and the notes to financial statements shall include the name and relationship of the affiliate.
","snippet":"For a put option provided by an affiliate, the schedule of investments shall describe the put as from an affiliate and the notes to financial statements shall include the name and relationship of the affiliate.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:82b1fbafa00f2684a30d1b0c426b709b695cef433cd3134ca92ce60964c1c577","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"citation":"210-946-50-13","para":"50-13","html":"
For a letter of credit, the name of the entity issuing the letter of credit shall be disclosed separately.
","snippet":"For a letter of credit, the name of the entity issuing the letter of credit shall be disclosed separately.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d65984a122ad7f1186570a8d9fc70c26c5ce1d7e7dfe35b43df0fb38a8ffebcb","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5dc70155020b16ca60e0d8c91238b34fac037bef1f7a6932246a71f2bc9e8131","downloaded_from":"2026-09-09T23:01:41.571Z","last_downloaded_at":"2026-09-09T23:01:41.571Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478795","source_sha256":"d7c1a9a459aa747c228fc66e93d0b37f300de39591554fb52f213c589508b62b"}},{"block":null,"heading":"Fully Benefit-Responsive Investment Contracts","paragraphs":[{"citation":"210-946-50-14","para":"50-14","html":"
Investment companies identified in paragraph 946-210-45-11 shall disclose all of the following in connection with fully benefit-responsive investment contracts, in the aggregate:
  1. a
    A description of the nature of those investment contracts.
  2. b
    A description of how those investment contracts operate.
  3. c
    A description of the methodology for calculating the interest crediting for those investment contracts, including all of the following:
    1. 1
      The key factors that could influence future average interest crediting rates
    2. 2
      The basis for and frequency of determining interest crediting rate resets
    3. 3
      Any minimum interest crediting rate under the terms of the contracts.
  4. d
    An explanation of the relationship between future interest crediting rates and the amount reported on the statement of assets and liabilities representing the adjustment for the portion of net assets attributable to fully benefit-responsive investment contracts from fair value to contract value.
  5. e
    A reconciliation between the beginning and ending balance of the amount presented on the statement of assets and liabilities that represents the difference between net assets reflecting all investments at fair value and net assets for each period in which a statement of changes in net assets is presented. This reconciliation shall include both of the following:
    1. 1
      The change in the difference between the fair value and contract value of all fully benefit-responsive investment contracts
    2. 2
      The increase or decrease due to changes in the fully benefit-responsive status of the fund's investment contracts.
  6. f
    The average yield earned by the entire fund (which may differ from the interest rate credited to participants in the fund) for each period for which a statement of assets and liabilities is presented. This average yield shall be calculated by dividing the annualized earnings of all investments in the fund (irrespective of the interest rate credited to participants in the fund) by the fair value of all investments in the fund.
  7. g
    The average yield earned by the entire fund with an adjustment to reflect the actual interest rate credited to participants in the fund for each period for which a statement of assets and liabilities is presented. This average yield shall be calculated by dividing the annualized earnings credited to participants in the fund (irrespective of the actual earnings of the investments in the fund) by the fair value of all investments in the fund.
  8. h
    Both of the following sensitivity analyses:
    1. 1
      The weighted average interest crediting rate (that is, the contract value yield) as of the date of the latest statement of assets and liabilities and the effect on this weighted average interest crediting rate, calculated as of the date of the latest statement of assets and liabilities and the end of the next four quarterly periods, under two or more scenarios where there is an immediate hypothetical increase or decrease in market yields, with no change to the duration of the underlying investment portfolio and no contributions or withdrawals. Those scenarios should include, at a minimum, immediate hypothetical increases and decreases in market yields equal to one-quarter and one-half of the current yield.
    2. 2
      The effect on the weighted average interest crediting rate calculated as of the date of the latest statement of assets and liabilities and the next four quarterly reset dates, under two or more scenarios where there are the same immediate hypothetical changes in market yields in the first analysis, combined with an immediate, one-time, hypothetical 10 percent decrease in the net assets of the fund due to participant transfers, with no change to the duration of the portfolio.
  9. i
    A description of the events that limit the ability of the fund to transact at contract value with the issuer (for example, premature termination of the contracts by the fund, plant closings, layoffs, plan termination, bankruptcy, mergers, and early retirement incentives), including a statement as to whether the occurrence of those events that would limit the fund's ability to transact at contract value with the participants in the fund is probable or not probable.
  10. j
    A description of the events and circumstances that would allow issuers to terminate fully benefit-responsive investment contracts with the fund and settle at an amount different from contract value.
Example 2 (see paragraph 946-210-55-2) illustrates the application of this guidance.
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This Example illustrates how to apply the guidance in paragraph 946-210-50-6. However, it does not address all possible circumstances that may arise in applying the guidance in that paragraph. Percent of net assets is shown for each category; net assets are assumed to be $50,000,000 for purposes of this Example.
","snippet":"This Example illustrates how to apply the guidance in paragraph 946-210-50-6. However, it does not address all possible circumstances that may arise in applying the guidance in that paragraph. Percent of net assets is sh…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d2b66ef81b25c4ceda0ec2a9555c80ca4f81c0524f2f517062adaee8073338e8","downloaded_from":"2026-09-09T23:01:44.511Z","last_downloaded_at":"2026-09-09T23:01:44.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477439","source_sha256":"13bfb4ffc8643511749225c23daa6e719b5affa831a389e8bfb9ffcf14371175"}},{"citation":"210-946-55-2","para":"55-2","html":"
The following illustrates the presentation for fully benefit-responsive investment contracts in the statement of assets and liabilities in accordance with the guidance beginning in paragraph 946-210-50-14 and related note disclosure prepared in accordance with the guidance beginning in paragraph 946-210-45-9.
","snippet":"The following illustrates the presentation for fully benefit-responsive investment contracts in the statement of assets and liabilities in accordance with the guidance beginning in paragraph 946-210-50-14 and related not…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:af609adaf440292a04131a3b37a21635374c8ff0d7eb2b09847f3a0568df236c","downloaded_from":"2026-09-09T23:01:44.511Z","last_downloaded_at":"2026-09-09T23:01:44.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477439","source_sha256":"13bfb4ffc8643511749225c23daa6e719b5affa831a389e8bfb9ffcf14371175"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f42e24834ff8affb5bfc8126e695b0d11d44fc6c08ba93009529c8f1ff2f12cf","downloaded_from":"2026-09-09T23:01:44.511Z","last_downloaded_at":"2026-09-09T23:01:44.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477439","source_sha256":"13bfb4ffc8643511749225c23daa6e719b5affa831a389e8bfb9ffcf14371175"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4dd15eb9583a0ddaf15056b2550d51382d187c0e1834dd34514e137459c8d500","downloaded_from":"2026-09-09T23:01:44.511Z","last_downloaded_at":"2026-09-09T23:01:44.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477439","source_sha256":"13bfb4ffc8643511749225c23daa6e719b5affa831a389e8bfb9ffcf14371175"}},{"number":"S00","label":"SEC 00 Status","anchor":"sec-00-status","is_sec":true,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-946-S00-1","para":"S00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
946-210-S99-1 through S99-3
 Amended Accounting Standards Update No. 2019-07 07/26/2019
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The following is the text of Regulation S-X Rule 6-06, Special Provisions Applicable to the Balance Sheets of Issuers of Face-Amount Certificates (17 CFR 210.6-06).
","snippet":"The following is the text of Regulation S-X Rule 6-06, Special Provisions Applicable to the Balance Sheets of Issuers of Face-Amount Certificates (17 CFR 210.6-06).\nBalance sheets filed by issuers of face-amount certific…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:db06e87cdb88cb6f7d40768becd2c829c70e312f7b371691019b2cf16601a999","downloaded_from":"2026-09-09T23:02:00.098Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479170","source_sha256":"aead5f4748cf8fec01eddb7ce891865e9c777f56f8bc193e9f91ed8fd06c7d11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7779c9a2bf4daa26b93c951210089ec4ea6226463c8f6157fc0e0bf799efe617","downloaded_from":"2026-09-09T23:02:00.098Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479170","source_sha256":"aead5f4748cf8fec01eddb7ce891865e9c777f56f8bc193e9f91ed8fd06c7d11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f290d6acbcd89e5a8fdce92d1e224785d66b6a1bd100b60d43d7a3b6125d17c3","downloaded_from":"2026-09-09T23:02:00.098Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479170","source_sha256":"aead5f4748cf8fec01eddb7ce891865e9c777f56f8bc193e9f91ed8fd06c7d11"}}],"enrichment":{"summary":"This subtopic governs how an investment company presents its financial position — either a statement of assets and liabilities or a statement of net assets — and the schedule (or condensed schedule) of investments that accompanies it. It sets bright-line disclosure thresholds (1 percent of net assets for registered/other investment companies; 5 percent for nonregistered investment partnerships), special presentation rules for multiple-class, master-feeder, and fund-of-funds structures, and requires contract-value reporting for fully benefit-responsive investment contracts held by qualified defined contribution plan trusts.","key_points":["An investment company presents financial position as either a statement of assets and liabilities or a statement of net assets, and a statement of net assets includes a schedule of investments (946-210-45-1 through 45-2).","For multiple-class funds, composition of net assets is reported in total but net asset value per share and shares outstanding are reported for each class (946-210-45-4).","In a master-feeder structure, the master fund generally does not report components of net assets, shares outstanding, or NAV per share and alone presents the portfolio of investments; each feeder reports its investment in the master (with NAV per share, shares outstanding, and components of net assets) and presents no schedule of portfolio investments (946-210-45-5 through 45-6).","Investment companies other than nonregistered investment partnerships must name each investment exceeding 1 percent of net assets (and each issuer aggregating over 1 percent), disclose at a minimum the 50 largest investments, categorize investments by type and by industry/country/geographic region, and aggregate the remainder by category with percent of net assets (946-210-50-1).","Nonregistered investment partnerships (hedge funds, LLCs, commodity pools, and similar) present a condensed schedule of investments using a 5 percent of net assets threshold, with long and short positions in any one issuer considered separately, special rules for derivatives by underlying, and investment objective and redemption restrictions for investments in other nonregistered partnerships exceeding 5 percent (946-210-50-4 through 50-6).","If the reporting fund's proportional share of an investment held by an investee fund exceeds 5 percent of the reporting fund's net assets, that investment must be named and categorized in the condensed schedule or a note; if investee portfolio information is unavailable, that fact must be disclosed (946-210-50-9 through 50-10).","For funds established under a trust adopted as part of qualified employer-sponsored defined contribution plans, contract value is the measurement attribute for net assets attributable to fully benefit-responsive investment contracts; the statement of assets and liabilities shows total assets, total liabilities, net assets reflecting all investments at fair value, and net assets, with the fair-value-to-contract-value adjustment shown as a single amount on the face (946-210-45-11, 45-16)."],"categories":["Presentation","Disclosure","Industry-specific","Fair value"],"audience_level":"advanced","student_note":"Exam and practice traps here are the two different concentration thresholds — 1 percent for registered/other investment companies versus 5 percent for nonregistered investment partnerships — and the rule that long and short positions in the same issuer are tested separately. Students also frequently miss that in a master-feeder structure the schedule of investments appears only at the master level, while NAV per share and components of net assets appear only at the feeder level.","related_topics":["946-10","946-205","940","825-10","275-10","962"],"key_concepts":["schedule of investments","condensed schedule of investments","statement of assets and liabilities","master-feeder structure","multiple-class shares","fully benefit-responsive investment contract","contract value","nonregistered investment partnership"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9046c1e73e980879ace38414486ae0388ea16ef4560ea9566e8e7502ceff5f30","downloaded_from":"2026-09-09T23:01:25.620Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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Sheet","score":0.8488,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:39db6605c5223f9dfd5ad9daf3890ada6af866178e27d0671b9142891d18bf84","downloaded_from":"2026-09-09T23:00:23.086Z","last_downloaded_at":"2026-09-09T23:00:53.507Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"205-946","title":"Financial Services—Investment Companies","topic_title":"Presentation of Financial 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Companies","score":0.8355,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:455a5645f67039fb5da7fdd2f570be42cec156f71dadaffef6c967198d28948c","downloaded_from":"2026-09-10T02:18:44.566Z","last_downloaded_at":"2026-09-10T02:19:25.136Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-944","title":"Financial Services—Insurance","topic_title":"Balance Sheet","score":0.8269,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e019dfa4eed1222642f5e4d73900b2a546e5a42b2b3cad8d96fabe3ea5c5bfa","downloaded_from":"2026-09-09T23:00:55.233Z","last_downloaded_at":"2026-09-09T23:01:22.901Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:80d9ea1d849fee02d2fe8386085892bf873deb98e5dbe6aaaa06b3910f2db0f2","downloaded_from":"2026-09-09T23:01:25.620Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-954","topic":"210","title":"Health Care Entities","area":"Presentation","paragraphs":13,"summary":"This subtopic governs how health care entities, including not-for-profit business-oriented health care entities, present their balance sheets. The general rule is a classified (current/noncurrent) balance sheet under Section 210-10-45, except that a continuing care retirement community may instead sequence assets by nearness of conversion to cash and liabilities by nearness of maturity. It also specifies that contractually limited (non-donor) assets stay in net assets without donor restrictions, that interfund balances are eliminated, and that restricted or segregated cash is excluded from current assets.","concepts":["classified balance sheet","continuing care retirement community","assets limited as to use","net assets without donor restrictions","donor-imposed restrictions","restricted cash","interfund receivables and payables","internally designated funds"],"categories":["Presentation","Not-for-profit","Industry-specific","Financial statement presentation"],"level":"intermediate","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-954-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Donor-Imposed Restriction Added Accounting Standards Update No. 2016-14 08/18/2016
Net Assets without Donor Restrictions Added Accounting Standards Update No. 2016-14 08/18/2016
Unrestricted Net Assets Superseded Accounting Standards Update No. 2016-14 08/18/2016
954-210-45-2 Amended Accounting Standards Update No. 2016-14 08/18/2016
954-210-45-4 Amended Accounting Standards Update No. 2016-14 08/18/2016
954-210-45-5 through 45-7
 Added Maintenance Update 2017-21 (PDF) 12/22/2017
954-210-50-1 Superseded Accounting Standards Update No. 2016-14 08/18/2016
954-210-50-2 Amended Maintenance Update 2021-09 (PDF) 08/20/2021
954-210-50-2 Amended Accounting Standards Update No. 2016-14 08/18/2016
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This Subtopic provides guidance on balance sheets for health care entities.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic (Section 954-10-15).
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Health care entities, including not-for-profit, business-oriented health care entities, shall classify assets and liabilities as current and noncurrent as discussed in Section 210-10-45. However, rather than presenting a classified balance sheet, a continuing care retirement community instead may sequence assets according to their nearness of conversion to cash and may sequence liabilities according to the nearness of the maturity and resulting use of cash.
","snippet":"Health care entities, including not-for-profit, business-oriented health care entities, shall classify assets and liabilities as current and noncurrent as discussed in Section 210-10-45. However, rather than presenting a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3308fbc97fea0a107de104ecdb40379011613ca9990d38e3a177c89f7579a81c","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bb6c34eed4d70671814a302cc07cd7a8e5bf953b9571406f784a99b4fd3705ed","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}},{"block":null,"heading":"Net Assets without Donor Restrictions","paragraphs":[{"citation":"210-954-45-2","para":"45-2","html":"
Net assets without donor restrictions of not-for-profit, business-oriented health care entities include assets whose use is contractually limited, such as the following:
  1. a
    Proceeds of debt issues and funds of the not-for-profit, business-oriented health care entity deposited with a trustee and limited to use in accordance with the requirements of an indenture or a similar agreement.
  2. b
    Other assets limited to use for identified purposes through an agreement between the not-for-profit, business-oriented health care entity and an outside party other than a donor or grantor. Examples include assets set aside under debt agreements, assets set aside under self-insurance (risk-retention) funding arrangements, and assets set aside to meet statutory reserve requirements (such as those required under state laws and regulations for many health maintenance organizations). (See paragraph 954-810-45-4.)
","snippet":"Net assets without donor restrictions of not-for-profit, business-oriented health care entities include assets whose use is contractually limited, such as the following:\n(a) Proceeds of debt issues and funds of the not-f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3876ae2c9d7d5c9ca85154310deda8d5245a0611b75929974c9e7a4ecfd3f488","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6bb6d48b4401fbc6ae09bedf360b8c92e624924be1b03f85b25bf54e9f0c9c1c","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}},{"block":null,"heading":"Interfund Receivables or Payables","paragraphs":[{"citation":"210-954-45-3","para":"45-3","html":"
Interfund receivables (or payables) may exist in internal records. However, since general-purpose financial statements of not-for-profit, business-oriented health care entities do not classify assets and liabilities into fund groups, interfund receivables (or payables) are eliminated.
","snippet":"Interfund receivables (or payables) may exist in internal records. However, since general-purpose financial statements of not-for-profit, business-oriented health care entities do not classify assets and liabilities into…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1ee031d115452bd2c00a25caf65afe7873c1bc6a80520e22a71659c4e99b4db0","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:91c002a2bc40bb33ffca3a98eacf9f8c0259a74227bf491d339cb1692c0a1f2a","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}},{"block":null,"heading":"Assets Limited as to Use","paragraphs":[{"citation":"210-954-45-4","para":"45-4","html":"
Internally designated funds shall be reported separately from externally restricted funds either on the face of the balance sheet or in the notes to the financial statements.
","snippet":"Internally designated funds shall be reported separately from externally restricted funds either on the face of the balance sheet or in the notes to the financial statements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dc1a0bebd3163e6a1c9bd6f1907ca6ca7a8bbe8460b24f47ebfb3569d9436ded","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:08840d86908b9cd60b8406543ca61f3a23b77f366b66325ccc6eaf67ee6c23c7","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}},{"block":null,"heading":"Cash and Cash Equivalents","paragraphs":[{"citation":"210-954-45-5","para":"45-5","html":"
Cash and claims to cash that meet any of the following conditions shall be reported separately and shall be excluded from current assets:
  1. a
    They are restricted as to withdrawal or use for other than current operations.
  2. b
    They are designated for expenditure in the acquisition or construction of noncurrent assets.
  3. c
    They are required to be segregated for the liquidation of long-term debts.
  4. d
    They are limited to use for long-term purposes by a donor-imposed restriction.
","snippet":"Cash and claims to cash that meet any of the following conditions shall be reported separately and shall be excluded from current assets:\n(a) They are restricted as to withdrawal or use for other than current operations.…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f8393832c427ed14c7231363c9aa63d33714e37bf68d86eb848df7d330e8f360","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}},{"citation":"210-954-45-6","para":"45-6","html":"
For fiduciary purposes, separate checking or savings accounts may be maintained for donations with donor restrictions. However, unless required by paragraph 954-210-45-5, such accounts are not reported on a line separate from other cash and cash equivalents because donor restrictions generally relate to limitations on the use of net assets rather than on the use of specific assets. A columnar presentation that highlights the two classes of net assets (that is, without donor restrictions and with donor restrictions) is not precluded if the totals for the reporting entity as a whole are displayed.
","snippet":"For fiduciary purposes, separate checking or savings accounts may be maintained for donations with donor restrictions. However, unless required by paragraph 954-210-45-5, such accounts are not reported on a line separate…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ec31aee715553edc3f5619bb9d25a5e7142a48a44b72f1ab0ea39bee966cf24b","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}},{"citation":"210-954-45-7","para":"45-7","html":"
Paragraph superseded by Accounting Standards Update No. 2016-14.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2016-14.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3a781f90030f02f4d129933c6911c1653d7afb403903f87ed0d80c9f5f6d3678","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a67ea62e90bc55ea50d2165c782957dd1fdbda2ad6b031c3f29fcf913e7ba87e","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:78d301f446a555560af68dabd6b7fb3e3e9eca93204db733f087825617ef70c6","downloaded_from":"2026-09-09T23:02:14.336Z","last_downloaded_at":"2026-09-09T23:02:14.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477220","source_sha256":"ea114f6daae53a7d2e76f73e972eee991512db13e9372b714824e39e2310a777"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-954-50-1","para":"50-1","html":"
Paragraph superseded by Accounting Standards Update No. 2016-14.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2016-14.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4a5fd06374281107806419fea88e175b5cb2cb035f14639c91167e3308a4a574","downloaded_from":"2026-09-09T23:02:18.022Z","last_downloaded_at":"2026-09-09T23:02:18.022Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478600","source_sha256":"79ac046a4017fcc187c655e8db24979dc75c8d3db0283339876474a7dfa510d2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:93446572d2149a1f17b49adea131fe220db46c80604eb1981be3583db91d8cf1","downloaded_from":"2026-09-09T23:02:18.022Z","last_downloaded_at":"2026-09-09T23:02:18.022Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478600","source_sha256":"79ac046a4017fcc187c655e8db24979dc75c8d3db0283339876474a7dfa510d2"}},{"block":null,"heading":"Assets Limited as to Use","paragraphs":[{"citation":"210-954-50-2","para":"50-2","html":"
When internally designated funds are reported separately from externally restricted funds in accordance with paragraph 954-210-45-4, if the form of the assets is not evident from the description on the balance sheet, the form of the assets shall be disclosed in the notes to the financial statements.
","snippet":"When internally designated funds are reported separately from externally restricted funds in accordance with paragraph 954-210-45-4, if the form of the assets is not evident from the description on the balance sheet, the…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fbe8d61fe3c2d6d13c6d3d12161ddc605981947d35f7152401c423a74491d77e","downloaded_from":"2026-09-09T23:02:18.022Z","last_downloaded_at":"2026-09-09T23:02:18.022Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478600","source_sha256":"79ac046a4017fcc187c655e8db24979dc75c8d3db0283339876474a7dfa510d2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:30bc2423e97ae441b20ddb8230f55482a6408e9c8d50f37636a332a9abe07bd9","downloaded_from":"2026-09-09T23:02:18.022Z","last_downloaded_at":"2026-09-09T23:02:18.022Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478600","source_sha256":"79ac046a4017fcc187c655e8db24979dc75c8d3db0283339876474a7dfa510d2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8be596f9ffb4a3f28fa2114672ca5d637dd3145b8be545515d2e88c0c68213c7","downloaded_from":"2026-09-09T23:02:18.022Z","last_downloaded_at":"2026-09-09T23:02:18.022Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478600","source_sha256":"79ac046a4017fcc187c655e8db24979dc75c8d3db0283339876474a7dfa510d2"}}],"enrichment":{"summary":"This subtopic governs how health care entities, including not-for-profit business-oriented health care entities, present their balance sheets. The general rule is a classified (current/noncurrent) balance sheet under Section 210-10-45, except that a continuing care retirement community may instead sequence assets by nearness of conversion to cash and liabilities by nearness of maturity. It also specifies that contractually limited (non-donor) assets stay in net assets without donor restrictions, that interfund balances are eliminated, and that restricted or segregated cash is excluded from current assets.","key_points":["Health care entities shall classify assets and liabilities as current and noncurrent per Section 210-10-45, but a continuing care retirement community may instead sequence assets by nearness of conversion to cash and liabilities by nearness of maturity (210-954-45-1).","Assets whose use is contractually limited by an outside party other than a donor or grantor—such as trusteed bond proceeds, self-insurance funding arrangements, and statutory reserves—are included in net assets without donor restrictions (210-954-45-2).","Because general-purpose financial statements do not classify assets and liabilities into fund groups, interfund receivables and payables are eliminated (210-954-45-3).","Internally designated funds shall be reported separately from externally restricted funds, either on the face of the balance sheet or in the notes (210-954-45-4).","Cash and claims to cash restricted as to withdrawal or use for other than current operations, designated for acquiring or constructing noncurrent assets, segregated to liquidate long-term debt, or limited to long-term purposes by donor restriction shall be reported separately and excluded from current assets (210-954-45-5).","Separate bank accounts holding donor-restricted gifts are not reported on a separate line unless 954-210-45-5 requires it, because donor restrictions limit use of net assets rather than specific assets; a columnar presentation of the two net asset classes is permitted if entity-wide totals are shown (210-954-45-6).","If the form of internally designated assets reported separately is not evident from the balance sheet description, that form shall be disclosed in the notes (210-954-50-2)."],"categories":["Presentation","Not-for-profit","Industry-specific","Financial statement presentation"],"audience_level":"intermediate","student_note":"The classic trap is assuming that anything labeled \"limited as to use\" is donor-restricted: contractual limits imposed by trustees, lenders, or regulators leave the assets in net assets without donor restrictions, even though they are excluded from current assets. Also remember the CCRC exception to the classified balance sheet requirement.","related_topics":["954-10","954-210","954-810","210-10","958-210","954-430"],"key_concepts":["classified balance sheet","continuing care retirement community","assets limited as to use","net assets without donor restrictions","donor-imposed restrictions","restricted cash","interfund receivables and payables","internally designated funds"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f49f78e273fcd2fd5ca370bb074149196692bbcc73e22476415b56662a1a8fb2","downloaded_from":"2026-09-09T23:02:01.873Z","last_downloaded_at":"2026-09-09T23:02:21.878Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"205-954","title":"Health Care Entities","topic_title":"Presentation of Financial Statements","score":0.8019,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b4125d0b688293f2b5597dd3e24587360e805ab4fb85b07bbd6bbacbc3211766","downloaded_from":"2026-09-09T22:55:29.204Z","last_downloaded_at":"2026-09-09T22:55:43.454Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-958","title":"Not-for-Profit Entities","topic_title":"Balance Sheet","score":0.7955,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a4105a7f57dff1bfd628bc2e8c97f1a0659a320417029f8e2beabed752dc8bea","downloaded_from":"2026-09-09T23:02:23.603Z","last_downloaded_at":"2026-09-09T23:02:44.054Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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At a minimum the statement must report totals for assets, liabilities, net assets, net assets with donor restrictions, and net assets without donor restrictions, focusing on the entity as a whole (958-210-45-1). It also requires liquidity-related presentation and disclosure, including qualitative information about how the NFP manages liquid resources and quantitative information about financial assets available for general expenditures within one year (958-210-50-1A).","concepts":["statement of financial position","net assets with donor restrictions","net assets without donor restrictions","liquidity and availability disclosure","board-designated endowment","donor-imposed restrictions","interfund items","classified balance sheet"],"categories":["Presentation","Disclosure","Not-for-profit","Financial statement presentation"],"level":"intermediate","topic_title":"Balance Sheet","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-958-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Board-Designated Endowment Fund Amended Accounting Standards Update No. 2016-14 08/18/2016
Board-Designated Net Assets Added Accounting Standards Update No. 2016-14 08/18/2016
Designated Net Assets Superseded Accounting Standards Update No. 2016-14 08/18/2016
Designated Net Assets Added Accounting Standards Update No. 2014-06 03/14/2014
Donor-Imposed Restriction Amended Accounting Standards Update No. 2016-14 08/18/2016
Donor-Restricted Endowment Fund Added Accounting Standards Update No. 2016-14 08/18/2016
Endowment Fund Amended Accounting Standards Update No. 2016-14 08/18/2016
Funds Functioning as Endowment Added Accounting Standards Update No. 2016-14 08/18/2016
Net Assets Added Accounting Standards Update No. 2016-14 08/18/2016
Net Assets with Donor Restrictions Added Accounting Standards Update No. 2016-14 08/18/2016
Net Assets without Donor Restrictions Added Accounting Standards Update No. 2016-14 08/18/2016
Permanent Endowment Superseded Accounting Standards Update No. 2016-14 08/18/2016
Permanently Restricted Net Assets Superseded Accounting Standards Update No. 2016-14 08/18/2016
Temporarily Restricted Net Assets Superseded Accounting Standards Update No. 2016-14 08/18/2016
Temporary Restriction Superseded Accounting Standards Update No. 2016-14 08/18/2016
Term Endowment Added Accounting Standards Update No. 2016-14 08/18/2016
Unrestricted Net Assets Superseded Accounting Standards Update No. 2016-14 08/18/2016
958-210-45-1 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-210-45-4 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-210-45-5A Added Accounting Standards Update No. 2016-14 08/18/2016
958-210-45-6 through 45-11
 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-210-45-7 Amended Maintenance Update 2020-18 (PDF) 11/25/2020
958-210-45-8 Amended Maintenance Update 2020-18 (PDF) 11/25/2020
958-210-45-8 Amended Accounting Standards Update No. 2012-04 10/01/2012
958-210-45-11 Amended Accounting Standards Update No. 2014-06 03/14/2014
958-210-45-12 Superseded Accounting Standards Update No. 2016-14 08/18/2016
958-210-45-12 Added Accounting Standards Update No. 2016-01 01/05/2016
958-210-50-1 through 50-3
 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-210-50-1A Added Accounting Standards Update No. 2016-14 08/18/2016
958-210-55-2 through 55-4
 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-210-55-5 through 55-8
 Added Accounting Standards Update No. 2016-14 08/18/2016
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nBoard-Designated Endowment Fund | Amended | Accounting Standards Update No. 2016-14 | 08…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fa11f3a76829329135357f03df8ddc54bc1f983fbce32645c964d68bdff2f49d","downloaded_from":"2026-09-09T23:02:23.603Z","last_downloaded_at":"2026-09-09T23:02:23.603Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477837","source_sha256":"565a518514b1d0e82ec0d7dc65fb5f0df503fd34aa53993de3bba8e55d6f90dd"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d3d959be08ac003ac0f740818399f73364077fa448456725a07385973f3f1c6c","downloaded_from":"2026-09-09T23:02:23.603Z","last_downloaded_at":"2026-09-09T23:02:23.603Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477837","source_sha256":"565a518514b1d0e82ec0d7dc65fb5f0df503fd34aa53993de3bba8e55d6f90dd"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:89fffd4e9ee273783bbc3e9dedc99ad746ef1f9ea185979e65a3179dafa1e455","downloaded_from":"2026-09-09T23:02:23.603Z","last_downloaded_at":"2026-09-09T23:02:23.603Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477837","source_sha256":"565a518514b1d0e82ec0d7dc65fb5f0df503fd34aa53993de3bba8e55d6f90dd"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-958-05-1","para":"05-1","html":"
This Subtopic provides guidance addressing the statement of financial position for not-for-profit entities (NFPs). A statement of financial position is the financial statement of an NFP that corresponds to the balance sheet of a business entity.
","snippet":"This Subtopic provides guidance addressing the statement of financial position for not-for-profit entities (NFPs). A statement of financial position is the financial statement of an NFP that corresponds to the balance sh…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cad5cc473b45fb38a2bc05dde05523fc0c186e1f207392a2d8fb235aa50772e3","downloaded_from":"2026-09-09T23:02:26.497Z","last_downloaded_at":"2026-09-09T23:02:26.497Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477463","source_sha256":"32f40decfc01a969a5db542935bd39130f708f2eeb4b8a38a518c379aac85d68"}},{"citation":"210-958-05-2","para":"05-2","html":"
The primary purpose of a statement of financial position is to provide relevant information about an NFP's assets, liabilities, and net assets and about their relationships to each other at a moment in time. The information provided in a statement of financial position, used with related disclosures and information in other financial statements, helps donors, members, creditors, and others to assess the following:
  1. a
    The NFP's ability to continue to provide services
  2. b
    The NFP's liquidity, financial flexibility, ability to meet obligations, and needs for external financing.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 958-10-15. It discusses how to report assets, liabilities, and net assets in financial statements; however, it does not specify when to recognize or how to measure those elements.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 958-10-15. It discusses how to report assets, liabilities, and net assets in financial statements; however, it do…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:07962f21bddc6f5b367042105ab5f61f48c0a1c76b81d80c61a0244915aa76c6","downloaded_from":"2026-09-09T23:02:28.432Z","last_downloaded_at":"2026-09-09T23:02:28.432Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477626","source_sha256":"95ed3921c2b9a0c29c571f9bbf582b377ef309c827967de06dfc66ce31e7db21"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4704ee66058fb9547bb41b6d3774f1b61148f6c71c8a2ec3a610988a07e24807","downloaded_from":"2026-09-09T23:02:28.432Z","last_downloaded_at":"2026-09-09T23:02:28.432Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477626","source_sha256":"95ed3921c2b9a0c29c571f9bbf582b377ef309c827967de06dfc66ce31e7db21"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0375f0c3202591b8f2e9539207998bb1d553f0f24e9622958367b22720755908","downloaded_from":"2026-09-09T23:02:28.432Z","last_downloaded_at":"2026-09-09T23:02:28.432Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477626","source_sha256":"95ed3921c2b9a0c29c571f9bbf582b377ef309c827967de06dfc66ce31e7db21"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Totals and Format","paragraphs":[{"citation":"210-958-45-1","para":"45-1","html":"
A statement of financial position shall focus on the not-for-profit entity (NFP) as a whole and shall report all of the following amounts:
  1. a
    Total assets
  2. b
    Total liabilities
  3. c
    Total net assets
  4. d
    Total net assets with donor restrictions
  5. e
    Total net assets without donor restrictions
  6. f
    Subparagraph superseded by Accounting Standards Update No. 2016-14.
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This Subtopic does not preclude display of interfund items in a statement of financial position; rather, its requirement to display total assets and liabilities results in certain practical limits on how interfund items are displayed in a financial statement. For example, because receivables and payables between fund groups are not entity assets or liabilities, a statement of financial position shall clearly label and arrange those interfund items to eliminate their amounts when displaying total assets or liabilities.
","snippet":"This Subtopic does not preclude display of interfund items in a statement of financial position; rather, its requirement to display total assets and liabilities results in certain practical limits on how interfund items …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:584b98423606167abe5803ae6075664d0af70307df80b7b8ec8922f3053699c3","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"citation":"210-958-45-3","para":"45-3","html":"
This Subtopic does not emphasize or preclude specific statement formats. It permits a left-to-right or top-to-bottom balanced format as well as single-column, multicolumn, single-page, or multipage formats.
","snippet":"This Subtopic does not emphasize or preclude specific statement formats. It permits a left-to-right or top-to-bottom balanced format as well as single-column, multicolumn, single-page, or multipage formats.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f0a1d7544dcd2b6f4f4917b4abde270fbf9cda0ef42c81fb49afff7e38b7b452","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fa434e7cd7cb021917ecdc81afc000f2ec50077aa5a243be59064755a23d1af8","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"block":null,"heading":"Classification of Assets and Liabilities","paragraphs":[{"citation":"210-958-45-4","para":"45-4","html":"
A statement of financial position, including accompanying notes to financial statements, provides relevant information about liquidity, financial flexibility, and the interrelationship of an NFP's assets and liabilities. That information generally is provided by aggregating assets and liabilities that possess similar characteristics into reasonably homogeneous groups that include the effects of donor-imposed restrictions as well as other contractual restrictions.
","snippet":"A statement of financial position, including accompanying notes to financial statements, provides relevant information about liquidity, financial flexibility, and the interrelationship of an NFP's assets and liabilities.…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b326dcc0a17a6aa12d53c4bf06669ce742dbbfdc6a8deec59a5dd303c96be703","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"citation":"210-958-45-5","para":"45-5","html":"
Classifying and aggregating items with similar characteristics into reasonably homogeneous groups and separating items with differing characteristics is a basic reporting practice that increases the usefulness of information. For example, entities generally report individual items of assets in homogeneous groups, such as cash and cash equivalents; accounts and notes receivable from patients, students, members, and other recipients of services; inventories of materials and supplies; deposits and prepayments for rent, insurance, and other services; marketable securities and other investment assets held for long-term purposes; and land, buildings, equipment, and other long-lived assets used to provide goods and services. Likewise, cash collections of receivables from patients, students, or other service recipients may differ significantly in continuity, stability, and risk from cash collections of pledges made to a special-purpose fundraising campaign. Classifying and reporting those receivables and collections of receivables as separate groups of assets and of cash inflows facilitates financial statement analysis aimed at objectives such as predicting amounts, timing, and uncertainty of future cash flows.
","snippet":"Classifying and aggregating items with similar characteristics into reasonably homogeneous groups and separating items with differing characteristics is a basic reporting practice that increases the usefulness of informa…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:828133c020fa583877346efba9be46f37574e9623ab17c331a9d32ec6b5abf53","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"citation":"210-958-45-5A","para":"45-5A","html":"
As illustrated in paragraph 958-205-55-7, cash and cash equivalents of permanent endowment funds held temporarily until suitable long-term investment opportunities are identified may be included in the classification long-term investments. Likewise, cash held temporarily by a custodian for investment purposes may be included as part of investments in a statement of financial position rather than as cash.
","snippet":"As illustrated in paragraph 958-205-55-7, cash and cash equivalents of permanent endowment funds held temporarily until suitable long-term investment opportunities are identified may be included in the classification lon…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f8fc1141612eeda934ab0a82db7dfa399ec3c0551cc1512187c1af4eeaa0df43","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"citation":"210-958-45-6","para":"45-6","html":"
Assets may be restricted by donors. For example, land could be restricted to use as a public park. Generally, however, restrictions apply to net assets, not to specific assets. Assets need not be disaggregated on the basis of the presence of donor-imposed restrictions on their use; for example, cash available for current use and without donor restrictions need not be reported separately from cash received with donor-imposed restrictions that is also available for current use. However, cash or other assets received with a donor-imposed restriction that limits their use to long-term purposes shall not be classified with cash or other assets that are without donor restrictions and are available for current use. The kind of asset whose use is limited either by a donor-imposed restriction or by governing board designations shall be described in the notes to the financial statements if the nature of the restriction or designation (that is, amount and purpose) is not clear from the description on the face of the statement of financial position.
","snippet":"Assets may be restricted by donors. For example, land could be restricted to use as a public park. Generally, however, restrictions apply to net assets, not to specific assets. Assets need not be disaggregated on the bas…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1abfdb6d5a876700e53c0da5b7c28699340942692091c15dfe41bfec71b81731","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"citation":"210-958-45-7","para":"45-7","html":"
The following information shall be displayed either on the face of the statement of financial position or in the notes to financial statements, unless otherwise required on the face of the statement of financial position:
  1. a
    Relevant information about the nature and amount of limitations on the use of cash and cash equivalents (such as cash held on deposit as a compensating balance) (see paragraph 958-210-50-3(b)). 
  2. b
    Contractual limitations on the use of particular assets. These include, for example, restricted cash or other assets set aside under debt agreements, assets set aside under self-insurance funding arrangements, assets set aside under collateral arrangements, or assets set aside to satisfy reserve requirements that states may impose under charitable gift annuity agreements (see paragraph 958-210-50-3(c)). 
  3. c
    Quantitative information, and additional qualitative information in the notes as necessary, about the availability of an NFP's financial assets at the balance sheet date to meet cash needs for general expenditures within one year of the balance sheet date (see paragraph 958-210-50-1A(b)).
","snippet":"The following information shall be displayed either on the face of the statement of financial position or in the notes to financial statements, unless otherwise required on the face of the statement of financial position…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:448fbd5e2f51bbe3e10b26682179e71accc37f60f8dcfec459e6925c6ddd665f","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"citation":"210-958-45-8","para":"45-8","html":"
Additional information about liquidity shall be provided by any of the following:
  1. a
    Sequencing assets according to their nearness of conversion to cash and sequencing liabilities according to the nearness of their maturity and resulting use of cash
  2. b
    Classifying assets and liabilities as current and noncurrent, as defined by Subtopic 210-10 (required by paragraph 954-210-45-1 for statements of financial position prepared by not-for-profit, business-oriented health care entities)
  3. c
    Disclosing in notes to financial statements any additional relevant information about the liquidity or maturity of assets and liabilities, including restrictions on the use of particular assets (see paragraph 958-210-50-1). 
","snippet":"Additional information about liquidity shall be provided by any of the following:\n(a) Sequencing assets according to their nearness of conversion to cash and sequencing liabilities according to the nearness of their matu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6d5b9955eb496351f9085c20dd2230f93de8775086c9b3e1305d81d1868c9047","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9fc8cee320f1d6143acee1de71302ab16e9e5db81bb2a26fb13e7fc6e05680b8","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"block":null,"heading":"Classification of Net Assets","paragraphs":[{"citation":"210-958-45-9","para":"45-9","html":"
The amounts for each of the two classes of net assets—with donor restrictions and without donor restrictions—are based on the existence or absence of donor-imposed restrictions. Information about the nature and amounts of different types of donor-imposed restrictions shall be provided either by reporting their amounts on the face of the statement of financial position or by including relevant details in notes to financial statements. Additionally, separate line items may be reported within net assets with donor restrictions or in notes to financial statements to distinguish between various types of donor-imposed restrictions, such as the following examples:
  1. a
    Assets, such as land or works of art, donated with stipulations that they be used for a specified purpose, be preserved, and not be sold.
  2. b
    Assets donated with stipulations that they be invested to provide a permanent source of income. These result from gifts and bequests that create a donor-restricted endowment that is perpetual in nature.
  3. c
    Support of particular operating activities.
  4. d
    Investment for a specified term.
  5. e
    Use in a specified future period.
  6. f
    Acquisition of long-lived assets.
","snippet":"The amounts for each of the two classes of net assets—with donor restrictions and without donor restrictions—are based on the existence or absence of donor-imposed restrictions. Information about the nature and amounts o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ce8385b3ea37ee761180ac5a7725232342642a2edd6f80e7358c9e6865eaa8bd","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"citation":"210-958-45-10","para":"45-10","html":"
A donor-imposed restriction may require that resources be used in a later period or after a specified date (time restrictions), or that resources be used for a specified purpose (purpose restrictions), or both. For example, gifts of cash and other assets with stipulations that they be invested to provide a source of income for a specified term and that the income be used for a specified purpose are both time and purpose restricted. Those gifts often are called term endowments.
","snippet":"A donor-imposed restriction may require that resources be used in a later period or after a specified date (time restrictions), or that resources be used for a specified purpose (purpose restrictions), or both. For examp…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c5bb4d6cd596ce3edb56452da62aa638d7321cc3904592315c97e3b62ff48a64","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"citation":"210-958-45-11","para":"45-11","html":"
Information about self-imposed limits also is useful, including information about voluntary resolutions by the governing board of an entity, such as resolutions to designate a portion of its net assets without donor restrictions to function as an endowment (sometimes called a board-designated endowment fund) or to designate a portion for a specific future expenditure (called board-designated net assets). Information about the amounts and purposes of board designations of net assets without donor restrictions shall be provided in notes to or on the face of financial statements in accordance with paragraph 958-210-50-3. (See Example 1 [paragraph 958-210-55-3] for an illustration of this guidance.)
","snippet":"Information about self-imposed limits also is useful, including information about voluntary resolutions by the governing board of an entity, such as resolutions to designate a portion of its net assets without donor rest…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c9051fa1447353bd180e22ff8d7b01169fc80aa6deb29d7fecd9177e5ab781d0","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"citation":"210-958-45-12","para":"45-12","html":"
Paragraph superseded by Accounting Standards Update No. 2016-14.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2016-14.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d7835fe0f2d17fea670cd52a4e3652f5ad03d8d2ed9b0ebf56490f3301f92bd4","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b8e245dfc16ae8f455bd9a09a3952945752204925eb8807a625960259fa9c4bc","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:30e36b51a2ff47f2ac1cce5f7d7492922b8760f2f1c76fdf464712e1efea01f0","downloaded_from":"2026-09-09T23:02:33.083Z","last_downloaded_at":"2026-09-09T23:02:33.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478684","source_sha256":"72a2cbafadf13294184c50697ae53198e98495f8e096f8318d40e8039642e446"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"210-958-50-1","para":"50-1","html":"
A not-for-profit entity (NFP) shall disclose in notes to financial statements relevant information about the liquidity or maturity of assets and liabilities, including restrictions and self-imposed limits on the use of particular items, in addition to information provided on the face of the statement of financial position, if shown, in accordance with paragraph 958-210-45-8. Specific disclosure requirements to meet that objective include the requirements in this Subtopic.
","snippet":"A not-for-profit entity (NFP) shall disclose in notes to financial statements relevant information about the liquidity or maturity of assets and liabilities, including restrictions and self-imposed limits on the use of p…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e4903e723988731efc9ff02a67c4572ae4beee225579a6bd51e3c3a67515c920","downloaded_from":"2026-09-09T23:02:36.104Z","last_downloaded_at":"2026-09-09T23:02:36.104Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478824","source_sha256":"6c3434806ef42ad7888c8c1caa2e3d4f542d181c1b949196513fb5d62d05ff18"}},{"citation":"210-958-50-1A","para":"50-1A","html":"
An NFP shall disclose the following:
  1. a
    Qualitative information in the notes to financial statements that is useful in assessing an entity's liquidity and that communicates how an NFP manages its liquid resources available to meet cash needs for general expenditures within one year of the date of the statement of financial position
  2. b
    Quantitative information either on the face of the statement of financial position or in the notes, and additional qualitative information in the notes as necessary, that communicates the availability of an NFP's financial assets at the date of the statement of financial position to meet cash needs for general expenditures within one year of the date of the statement of financial position (see paragraph 958-210-45-7(c)). Availability of a financial asset may be affected by:
    1. 1
      Its nature
    2. 2
      External limits imposed by donors, laws, and contracts with others
    3. 3
      Internal limits imposed by governing board decisions.
See example note disclosures in paragraphs
958-210-55-5 through 55-8
and 958-205-55-21.
","snippet":"An NFP shall disclose the following:\n(a) Qualitative information in the notes to financial statements that is useful in assessing an entity's liquidity and that communicates how an NFP manages its liquid resources availa…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a41554fac017ca37569578b0b65c7b4153d220c967d6cf87620523375286d884","downloaded_from":"2026-09-09T23:02:36.104Z","last_downloaded_at":"2026-09-09T23:02:36.104Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478824","source_sha256":"6c3434806ef42ad7888c8c1caa2e3d4f542d181c1b949196513fb5d62d05ff18"}},{"citation":"210-958-50-2","para":"50-2","html":"
An NFP shall disclose the following, if applicable, in the notes to financial statements and may include that information in qualitative disclosures on the availability of an NFP's financial assets in accordance with paragraph 958-210-50-1A(b):
  1. a
    Unusual circumstances, such as special borrowing arrangements, requirements imposed by resource providers that cash be held in separate accounts, and known significant liquidity problems
  2. b
    The fact that the NFP has not maintained appropriate amounts of cash and cash equivalents to comply with donor-imposed restrictions (see paragraph 958-450-50-3)
  3. c
    Information about significant limits resulting from contractual agreements with suppliers, creditors, and others, including the existence of loan covenants.
","snippet":"An NFP shall disclose the following, if applicable, in the notes to financial statements and may include that information in qualitative disclosures on the availability of an NFP's financial assets in accordance with par…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ed2a20fe0b8c4006f37c586c78c1b9749aa864ad72afc0cbfc4ccc4377f8ac6f","downloaded_from":"2026-09-09T23:02:36.104Z","last_downloaded_at":"2026-09-09T23:02:36.104Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478824","source_sha256":"6c3434806ef42ad7888c8c1caa2e3d4f542d181c1b949196513fb5d62d05ff18"}},{"citation":"210-958-50-3","para":"50-3","html":"
Section 958-210-45 discusses the following items that are required to be included in the notes to financial statements if they are not provided on the face of the statement of financial position:
  1. a
    A description of the kind of asset whose use is limited (see paragraph 958-210-45-6)
  2. b
    Information about the nature and amount of limitations on the use of cash and cash equivalents (see paragraph 958-210-45-7(a))
  3. c
    Contractual limitations on the use of particular assets (see paragraph 958-210-45-7(b))
  4. d
    Information about the nature and amounts of different types of restrictions that affect how and when, if ever, the resources (net assets) can be used (see paragraph 958-210-45-9)
  5. e
    Subparagraph superseded by Accounting Standards Update No. 2016-14.
  6. f
    Information about additional limitations placed on net assets, such as information about the amounts and purposes of board designations of net assets without donor restrictions required in accordance with paragraph 958-210-45-11.
","snippet":"Section 958-210-45 discusses the following items that are required to be included in the notes to financial statements if they are not provided on the face of the statement of financial position:\n(a) A description of the…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b61ec982d501dc1461b4014fb7bc536431b94a68dd13c1d9f14d4c64f973a7c5","downloaded_from":"2026-09-09T23:02:36.104Z","last_downloaded_at":"2026-09-09T23:02:36.104Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478824","source_sha256":"6c3434806ef42ad7888c8c1caa2e3d4f542d181c1b949196513fb5d62d05ff18"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e6cd48306eed97435b877c25c5e20ba6de1c97f38fb7655610b6e02b763d2453","downloaded_from":"2026-09-09T23:02:36.104Z","last_downloaded_at":"2026-09-09T23:02:36.104Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478824","source_sha256":"6c3434806ef42ad7888c8c1caa2e3d4f542d181c1b949196513fb5d62d05ff18"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2b06b7a937aded88e7923594fd1e53b1499d33a59521f356fb9f31dad4e6da03","downloaded_from":"2026-09-09T23:02:36.104Z","last_downloaded_at":"2026-09-09T23:02:36.104Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478824","source_sha256":"6c3434806ef42ad7888c8c1caa2e3d4f542d181c1b949196513fb5d62d05ff18"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"210-958-55-1","para":"55-1","html":"
This Section, which is an integral part of the requirements of this Subtopic, provides general guidance to be used in the presentation of a statement of financial position by a not-for-profit entity (NFP).
","snippet":"This Section, which is an integral part of the requirements of this Subtopic, provides general guidance to be used in the presentation of a statement of financial position by a not-for-profit entity (NFP).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:20e03436e76ed035c86fdd27c29291957ba158d5f07341a3d716c274e6d2640d","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}},{"citation":"210-958-55-2","para":"55-2","html":"
In addition to the following Examples, guidance in paragraph 958-205-55-7 illustrates a statement of financial position and paragraph 958-205-55-5 provides the facts and transactions that are reflected in that illustrative statement.
","snippet":"In addition to the following Examples, guidance in paragraph 958-205-55-7 illustrates a statement of financial position and paragraph 958-205-55-5 provides the facts and transactions that are reflected in that illustrati…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7fca8dd507cfee5cf0be0a24ed59fb7c04df8d1004a20bc255e14c52b534b4d0","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}},{"citation":"210-958-55-3","para":"55-3","html":"
As illustrated in paragraph 958-205-55-9, this Subtopic encourages the use of the terms net assets with donor restrictions and net assets without donor restrictions; however, other labels exist. For example, equity may be used for net assets, and other or not donor-restricted may be used with care to distinguish net assets with donor restrictions from net assets without donor restrictions. For example, the net asset section might be arranged as follows.
","snippet":"As illustrated in paragraph 958-205-55-9, this Subtopic encourages the use of the terms net assets with donor restrictions and net assets without donor restrictions; however, other labels exist. For example, equity may b…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7c06b7287e673d56607028ecdf025e2454e6d5e0af3324b82b6d838d5d75e0e3","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}},{"citation":"210-958-55-4","para":"55-4","html":"
At a minimum, paragraph 958-210-45-1 requires that the amounts for each of the two classes of net assets—net assets with donor restrictions and net assets without donor restrictions—and the total of net assets be reported in a statement of financial position. The captions used to describe those amounts must correspond with their meanings.
","snippet":"At a minimum, paragraph 958-210-45-1 requires that the amounts for each of the two classes of net assets—net assets with donor restrictions and net assets without donor restrictions—and the total of net assets be reporte…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:25dfce41875f00c4f0711259f621bfbfaf47ce4d42089138aa4b6aa12de2d43b","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}},{"citation":"210-958-55-5","para":"55-5","html":"
This Example illustrates disclosures on liquidity and availability of an NFP's financial assets as required by paragraph 958-210-50-1A. It provides two possible methods to meet the disclosure requirements, but there may be other ways for an NFP to meet the requirements. In this Example, Not-for-Profit Entity A (NFP A) has combined the disclosures about availability of its financial assets and liquidity into one note; however, these disclosures also may be presented in separate notes. Note G in paragraph 958-205-55-21 provides an additional example of the disclosures on liquidity and availability of an NFP's financial assets.
","snippet":"This Example illustrates disclosures on liquidity and availability of an NFP's financial assets as required by paragraph 958-210-50-1A. It provides two possible methods to meet the disclosure requirements, but there may …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dc8a75da3685990087a70e0876356aba2c719e5bffaf7788c1f8a0e431aae40a","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}},{"citation":"210-958-55-6","para":"55-6","html":"
The following is a statement of financial position and example disclosure for NFP A.
","snippet":"The following is a statement of financial position and example disclosure for NFP A.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:04b9f590261ddee29d623fb0b4ace63fd4a0a87503ab9dc1d822853ff1e6cba5","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}},{"citation":"210-958-55-7","para":"55-7","html":"
NFP A has $395,000 of financial assets available within 1 year of the balance sheet date to meet cash needs for general expenditure consisting of cash of $75,000, contributions receivable of $20,000, and short-term investments of $300,000. None of the financial assets are subject to donor or other contractual restrictions that make them unavailable for general expenditure within one year of the balance sheet date. The contributions receivable are subject to implied time restrictions but are expected to be collected within one year. NFP A has a goal to maintain financial assets, which consist of cash and short-term investments, on hand to meet 60 days of normal operating expenses, which are, on average, approximately $275,000. NFP A has a policy to structure its financial assets to be available as its general expenditures, liabilities, and other obligations come due. In addition, as part of its liquidity management, NFP A invests cash in excess of daily requirements in various short-term investments, including certificate of deposits and short-term treasury instruments. As more fully described in Note XX, NFP A also has committed lines of credit in the amount of $20,000, which it could draw upon in the event of an unanticipated liquidity need.
","snippet":"NFP A has $395,000 of financial assets available within 1 year of the balance sheet date to meet cash needs for general expenditure consisting of cash of $75,000, contributions receivable of $20,000, and short-term inves…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e6fcd5674a0b27b0601b426d54e95e72a6411704ca4d7d065c52c830435d6a34","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}},{"citation":"210-958-55-8","para":"55-8","html":"
NFP A presents a classified statement of financial position with additional qualitative information about availability of resources and liquidity in Note T.
","snippet":"NFP A presents a classified statement of financial position with additional qualitative information about availability of resources and liquidity in Note T.\nNote T\nNFP A's financial assets available within one year of th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:25f13cb249165ec9f9c0ae1ab8867f56ea395b13a04da8029ed24b254df379c3","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3aa80d0b741a7c86ca978612121c7d9a9494be1065150d5013aa518f5780e4e3","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b3c01ee5820dc40146f4b1e4448bd7d55050520693fbc0ee2f78b78f86a2ff9c","downloaded_from":"2026-09-09T23:02:40.115Z","last_downloaded_at":"2026-09-09T23:02:40.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477874","source_sha256":"600f49eeece1e76a18ce298f47811d1c3faee86f8006adcfbc70e30db73f14ce"}},{"number":"60","label":"60 Relationships","anchor":"60-relationships","is_sec":false,"groups":[{"block":null,"heading":"Balance Sheet","paragraphs":[{"citation":"210-958-60-1","para":"60-1","html":"
For classification of current assets and current liabilities, see Section 210-10-45.
","snippet":"For classification of current assets and current liabilities, see Section 210-10-45.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:974ca4ec65d134c528480590ffc110add122b106df70375cd7879bb3533b767f","downloaded_from":"2026-09-09T23:02:44.054Z","last_downloaded_at":"2026-09-09T23:02:44.054Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477741","source_sha256":"c7ae80277f15a43c85efc1655d85b148f52df8161b2337fc7767037ca50e7de8"}},{"citation":"210-958-60-2","para":"60-2","html":"
For exclusion from current assets of funds that are clearly to be used in the near future for the liquidation of long-term debts, payments to sinking funds, or for similar purposes, including those restricted for those purposes, see paragraph 210-10-45-4.
","snippet":"For exclusion from current assets of funds that are clearly to be used in the near future for the liquidation of long-term debts, payments to sinking funds, or for similar purposes, including those restricted for those p…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9b628af42e1490607de8a497db904ac1512b36a77f081e12d1b5c81229fabced","downloaded_from":"2026-09-09T23:02:44.054Z","last_downloaded_at":"2026-09-09T23:02:44.054Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477741","source_sha256":"c7ae80277f15a43c85efc1655d85b148f52df8161b2337fc7767037ca50e7de8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b0e9b1b7e5c822fd11eec4b6e095af3facc0cd448aa556bea6558761db7ac246","downloaded_from":"2026-09-09T23:02:44.054Z","last_downloaded_at":"2026-09-09T23:02:44.054Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477741","source_sha256":"c7ae80277f15a43c85efc1655d85b148f52df8161b2337fc7767037ca50e7de8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:17f836fd5a7a54e2c07496009bb75a6d986a275d30a6492888624fe97f991dd6","downloaded_from":"2026-09-09T23:02:44.054Z","last_downloaded_at":"2026-09-09T23:02:44.054Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477741","source_sha256":"c7ae80277f15a43c85efc1655d85b148f52df8161b2337fc7767037ca50e7de8"}}],"enrichment":{"summary":"This subtopic governs the not-for-profit statement of financial position (the NFP equivalent of a balance sheet). At a minimum the statement must report totals for assets, liabilities, net assets, net assets with donor restrictions, and net assets without donor restrictions, focusing on the entity as a whole (958-210-45-1). It also requires liquidity-related presentation and disclosure, including qualitative information about how the NFP manages liquid resources and quantitative information about financial assets available for general expenditures within one year (958-210-50-1A).","key_points":["A statement of financial position must focus on the NFP as a whole and report total assets, total liabilities, total net assets, total net assets with donor restrictions, and total net assets without donor restrictions (958-210-45-1).","Interfund receivables and payables are not entity assets or liabilities; if displayed, they must be labeled and arranged so their amounts are eliminated from total assets and liabilities (958-210-45-2); no particular statement format is required or precluded (958-210-45-3).","Assets and liabilities generally should be aggregated into reasonably homogeneous groups reflecting donor-imposed and other contractual restrictions to convey liquidity and financial flexibility (958-210-45-4 through 45-5).","Restrictions generally apply to net assets rather than specific assets, so assets need not be disaggregated by restriction; however, cash or other assets received with donor restrictions limiting use to long-term purposes may not be classified with unrestricted assets available for current use (958-210-45-6).","Limitations on cash and cash equivalents, contractual limitations on particular assets, and quantitative information on availability of financial assets for general expenditures within one year must appear on the face of the statement or in the notes (958-210-45-7).","Additional liquidity information may be provided by sequencing assets/liabilities by nearness to cash or maturity, using a classified current/noncurrent format, or note disclosure (958-210-45-8); health care NFPs must use a classified format under 954-210-45-1.","An NFP must disclose qualitative information on how it manages liquid resources for general expenditures within one year and quantitative information on availability of financial assets, considering nature, external donor/law/contract limits, and internal board limits (958-210-50-1A); board designations, including board-designated endowment funds, must be disclosed as to amounts and purposes (958-210-45-11)."],"categories":["Presentation","Disclosure","Not-for-profit","Financial statement presentation"],"audience_level":"intermediate","student_note":"Exam questions turn on the two-class net asset model (with/without donor restrictions, after ASU 2016-14 eliminated the old three-class temporarily/permanently restricted split) and the required liquidity/availability disclosures. A common misunderstanding is thinking donor restrictions attach to specific assets — they attach to net assets, though long-term-purpose restricted cash still cannot be lumped with cash available for current use.","related_topics":["958-205","958-210","210-10","954-210","958-450","958-10"],"key_concepts":["statement of financial position","net assets with donor restrictions","net assets without donor restrictions","liquidity and availability disclosure","board-designated endowment","donor-imposed restrictions","interfund items","classified balance sheet"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ab289c242a72f18ff9876a6cedf6be0a9cc17b053432aa76a6b629b7715d9ddc","downloaded_from":"2026-09-09T23:02:23.603Z","last_downloaded_at":"2026-09-09T23:02:44.054Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"205-958","title":"Not-for-Profit Entities","topic_title":"Presentation of Financial Statements","score":0.9056,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d5aa5a0968e7e4aa8768514f86b08236c78ba62407c650c074e480bc23153a8","downloaded_from":"2026-09-09T22:55:47.235Z","last_downloaded_at":"2026-09-09T22:56:13.307Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"220-958","title":"Not-for-Profit Entities","topic_title":"Income Statement—Reporting Comprehensive Income","score":0.836,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:24c057b6651a6c5e6f0c2d1de38662e16c686c98c826816124036d75d0b9851b","downloaded_from":"2026-09-09T23:07:15.767Z","last_downloaded_at":"2026-09-09T23:07:32.842Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"320-958","title":"Not-for-Profit Entities","topic_title":"Investments—Debt 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retrieval timestamps"}},"next":{"number":"215-10","title":"Overall","topic_title":"Statement of Shareholder Equity","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c2fb3c61f1ce16d7c631ff94909f016cb325fd1c6e30ec60b328f2b427d2b769","downloaded_from":"2026-09-09T23:02:47.297Z","last_downloaded_at":"2026-09-09T23:02:50.519Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fba8d495fcc0b8cc22573656190f2d808bf2e85b8c5d9b2f60e7a87cb2820759","downloaded_from":"2026-09-09T23:02:23.603Z","last_downloaded_at":"2026-09-09T23:02:44.054Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"paragraphs":259,"summary":"ASC 210 governs the balance sheet (statement of financial position): when and how assets and liabilities are classified as current or noncurrent, and when they may be offset. The Overall Subtopic (210-10) defines current assets and current liabilities by reference to one year or the operating cycle, whichever is longer, and applies only if an entity elects a classified balance sheet; ASC 210-20 supplies the general offsetting principle — netting is improper unless all four right-of-setoff conditions in 210-20-45-1 are met (mutual determinable amounts, right to set off, intent to set off, enforceability at law including bankruptcy) — with a narrow repo/reverse-repo election and extensive master netting disclosures. Industry subtopics tailor these rules: brokers and dealers (210-940) simply point back to 210-20-45; depository and lending institutions (210-942) and insurance entities (210-944) specify which balances may or may not be offset; health care entities (210-954), not-for-profits (210-958), and investment companies (210-946) prescribe specialized formats and liquidity disclosures. Subtopics 210-912 (government contractors) and 210-915 (development stage entities) are empty shells fully superseded by ASU 2014-09 and ASU 2014-10 respectively.","concepts":["current versus noncurrent classification","operating cycle","right of setoff","master netting arrangement disclosures","repurchase and reverse repurchase offsetting election","statement of financial position for not-for-profits","schedule of investments","liquidity and restricted cash presentation"],"categories":["Presentation","Financial statement presentation","Disclosure","Not-for-profit"],"level":"intermediate","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c5713da0371ff50ab658b1a63aeba7821bed45347bd0f61020e1d2cd51abaa7a","downloaded_from":"2026-09-09T22:58:18.165Z","last_downloaded_at":"2026-09-09T23:02:44.054Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}