{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/220/946/#50-disclosure","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.","topic":"220","topic_title":"Income Statement—Reporting Comprehensive Income","subtopic":"220-946","subtopic_title":"Financial Services—Investment Companies","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Net Investment Income","paragraphs":[{"citation":"220-946-50-1","para":"50-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_0FDB51A9-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Any income tax provision relating to net investment income shall be disclosed separately. </span></span> </div> </div>","snippet":"Any income tax provision relating to net investment income shall be disclosed separately.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:afc1bcce71e310bf06d14a13489695a2fe272b42b261e963bb1b510ade5104fd","downloaded_from":"2026-09-09T23:06:32.355Z","last_downloaded_at":"2026-09-09T23:06:32.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478297","source_sha256":"d397f26a1adf2719ffabb889ac8b6404ede26b067b3d5039a44eb6635f2fad62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b5453360e1abebe8540ef51c6937b489cbc6422541b3a81a1f10e4f53d068fa8","downloaded_from":"2026-09-09T23:06:32.355Z","last_downloaded_at":"2026-09-09T23:06:32.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478297","source_sha256":"d397f26a1adf2719ffabb889ac8b6404ede26b067b3d5039a44eb6635f2fad62"}},{"block":null,"heading":"Net Realized Gain or Loss from Investments","paragraphs":[{"citation":"220-946-50-2","para":"50-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_0FDB5329-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The statement of operations shall disclose net realized gains or losses. </span></span> <span class=\"sfragment\" id=\"sfr_0FDB54B8-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Gains or losses arising from in-kind redemptions shall be disclosed. </span></span> <span class=\"sfragment\" id=\"sfr_0FDB55F6-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Notes to financial statements shall state an entity's practice of either including or excluding that portion of realized and unrealized gains and losses from investments that result from foreign currency changes with or from other foreign currency gains and losses. </span></span> </div> </div>","snippet":"The statement of operations shall disclose net realized gains or losses. Gains or losses arising from in-kind redemptions shall be disclosed. Notes to financial statements shall state an entity's practice of either inclu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:984fdbc2fa05eec51046e7c2f8478e2f9fff04c51e853942ac5a910349754106","downloaded_from":"2026-09-09T23:06:32.355Z","last_downloaded_at":"2026-09-09T23:06:32.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478297","source_sha256":"d397f26a1adf2719ffabb889ac8b6404ede26b067b3d5039a44eb6635f2fad62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d4971861ac54679c19f5b7f1abe6a423916c3e41c1b397186ea819dde426e2e3","downloaded_from":"2026-09-09T23:06:32.355Z","last_downloaded_at":"2026-09-09T23:06:32.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478297","source_sha256":"d397f26a1adf2719ffabb889ac8b6404ede26b067b3d5039a44eb6635f2fad62"}},{"block":null,"heading":"Complex Capital Structures","paragraphs":[{"citation":"220-946-50-3","para":"50-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_0FDB5753-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Class-specific expenses shall be reported for each class </span></span> <span class=\"sfragment\" id=\"sfr_0FDB5859-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">of fund in the statement of operations </span></span> <span class=\"sfragment\" id=\"sfr_0FDB5975-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">or disclosed in the notes to financial statements. Reporting the amount of fund-level expenses allocated to each class is not required </span></span> <span class=\"sfragment\" id=\"sfr_0FDB5A9A-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">but disclosure of fund-level expenses by class in the statement of operations or in notes to financial statements is permitted. </span></span> <span class=\"sfragment\" id=\"sfr_0FDB5B9D-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">(See paragraph <a href=\"/asc/220/946/#220-946-45-9\" class=\"xref\">946-220-45-9</a>.)</span></span> </div> </div>","snippet":"Class-specific expenses shall be reported for each class of fund in the statement of operations or disclosed in the notes to financial statements. Reporting the amount of fund-level expenses allocated to each class is no…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:304b99c92b9079a732e40416eb662cf89be55d08d2ce6ef84b9e82d6e41564a2","downloaded_from":"2026-09-09T23:06:32.355Z","last_downloaded_at":"2026-09-09T23:06:32.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478297","source_sha256":"d397f26a1adf2719ffabb889ac8b6404ede26b067b3d5039a44eb6635f2fad62"}},{"citation":"220-946-50-4","para":"50-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_0FDB5CB7-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">In accordance with paragraph <a href=\"/asc/220/946/#220-946-45-14\" class=\"xref\">946-220-45-14</a>, </span></span> <span class=\"sfragment\" id=\"sfr_0FDB5DE2-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">the investor fund shall not reflect any operating expenses if the investee funds have agreed to assume certain of the investor fund expenses. </span></span> <span class=\"sfragment\" id=\"sfr_0FDB5F1A-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">To the extent the investor fund has such agreements, they shall </span></span> <span class=\"sfragment\" id=\"sfr_0FDB6037-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">be disclosed in the notes to financial statements. </span></span> </div> </div>","snippet":"In accordance with paragraph 946-220-45-14, the investor fund shall not reflect any operating expenses if the investee funds have agreed to assume certain of the investor fund expenses. To the extent the investor fund ha…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fb2661375de866a0008f18f1ec060965a733f7b3d11caef91a8652565f034fdc","downloaded_from":"2026-09-09T23:06:32.355Z","last_downloaded_at":"2026-09-09T23:06:32.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478297","source_sha256":"d397f26a1adf2719ffabb889ac8b6404ede26b067b3d5039a44eb6635f2fad62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a1a1ff589d277e29014739872b8d39b9b114fbc5b832b77fcf33e128c9a08009","downloaded_from":"2026-09-09T23:06:32.355Z","last_downloaded_at":"2026-09-09T23:06:32.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478297","source_sha256":"d397f26a1adf2719ffabb889ac8b6404ede26b067b3d5039a44eb6635f2fad62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a90582d0525fca0eeee6df3dcbd4cfc6bc58a5958a957c4c66f280cc59d48bf","downloaded_from":"2026-09-09T23:06:32.355Z","last_downloaded_at":"2026-09-09T23:06:32.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478297","source_sha256":"d397f26a1adf2719ffabb889ac8b6404ede26b067b3d5039a44eb6635f2fad62"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a90582d0525fca0eeee6df3dcbd4cfc6bc58a5958a957c4c66f280cc59d48bf","downloaded_from":"2026-09-09T23:06:32.355Z","last_downloaded_at":"2026-09-09T23:06:32.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478297","source_sha256":"d397f26a1adf2719ffabb889ac8b6404ede26b067b3d5039a44eb6635f2fad62"}}