# ASC 220-946-50: Income Statement—Reporting Comprehensive Income — Financial Services—Investment Companies — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/220/946/#50-disclosure)

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## ASC 220-946-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/220/946/#50-disclosure)

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#### Net Investment Income

##### [220-946-50-1](https://asc.understandingaccounting.org/asc/220/946/#220-946-50-1)

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Any income tax provision relating to net investment income shall be disclosed separately.

#### Net Realized Gain or Loss from Investments

##### [220-946-50-2](https://asc.understandingaccounting.org/asc/220/946/#220-946-50-2)

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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 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.

#### Complex Capital Structures

##### [220-946-50-3](https://asc.understandingaccounting.org/asc/220/946/#220-946-50-3)

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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 not required but disclosure of fund-level expenses by class in the statement of operations or in notes to financial statements is permitted. (See paragraph [946-220-45-9](https://asc.understandingaccounting.org/asc/220/946/#220-946-45-9).)

##### [220-946-50-4](https://asc.understandingaccounting.org/asc/220/946/#220-946-50-4)

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In accordance with paragraph [946-220-45-14](https://asc.understandingaccounting.org/asc/220/946/#220-946-45-14), 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 has such agreements, they shall be disclosed in the notes to financial statements.