ASC

ASC 310-940

Financial Services—Brokers and Dealers

310 Receivables

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Source downloaded: .Record version f52267fc6225. Effective date must be checked in the source.

In brief

IntermediateFinancial instrumentsIndustry-specificRecognition

ASC 310-940 is a "link" subtopic: it contains no substantive accounting guidance of its own. It simply directs readers looking for guidance on receivables of brokers and dealers in securities to other locations in the Codification — specifically, Subtopic 940-325 for receivables arising as part of a financial-restructuring transaction (310-940-05-2).

Key points (4)
  • Per 310-940-05-1, this Subtopic only provides a link to guidance on receivables of brokers and dealers in securities (broker-dealers); it establishes no recognition, measurement, or disclosure requirements itself.
  • Per 310-940-05-2, receivables that are part of a financial-restructuring transaction (as described in 940-325-05-1, 940-325-30-1, and 940-325-35-1) are accounted for under Subtopic 940-325.
  • Because the industry guidance resides in Topic 940 (Financial Services—Brokers and Dealers), a researcher who starts in Topic 310 must follow the cross-reference rather than apply general receivables guidance by default.
  • The Subtopic contains only Section 05 (Overview and Background); the absence of Sections 25, 30, 35, and 50 signals that no incremental broker-dealer receivables guidance is codified in Topic 310.

For students. The practical point is research navigation: ASC 310-940 exists only to route you to Subtopic 940-325, so don't waste time hunting for broker-dealer receivable rules inside Topic 310. A common misunderstanding is assuming a "link" subtopic imposes its own requirements or that general Topic 310 receivables guidance automatically governs broker-dealer financial-restructuring receivables.

broker-dealer receivableslink subtopicfinancial restructuring transactionindustry-specific guidancecodification cross-referencesecurities brokers and dealers

Machine-generated study aid for ASC 310-940. Check the source paragraphs below.

310-940-05Overview and Background

Source downloaded: .Record version 9de9b53038ec. Effective date must be checked in the source.

310-940-05-1
This Subtopic only provides a link to guidance on receivables of brokers and dealers in securities (broker-dealers).
310-940-05-2
For guidance on receivables that are part of a financial-restructuring transaction (as described in paragraphs 940-325-05-1, 940-325-30-1 and 940-325-35-1), see Subtopic 940-325.

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