# ASC 310-946: Receivables — Financial Services—Investment Companies Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/310/946/) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-09T23:30:18.988Z to 2026-09-09T23:30:40.180Z Record version: sha256:e6d05f03e65225ff3652ae25c93265add20e6a5b78c668acde8635c91d2098ec Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-946: Receivables — Financial Services—Investment Companies ### Machine-generated study aids ```json { "summary": "This Subtopic governs how an investment company presents receivables in its statement of assets and liabilities. Receivables must be listed separately at net realizable value by category — dividends and interest, investment securities sold, capital stock sold, and other accounts receivable (including related-party and affiliate expense-reimbursement receivables and variation margin on open futures contracts). Foreign-currency-denominated receivables are translated into the functional currency at current exchange rates and may be grouped with the corresponding functional currency receivables.", "key_points": [ "This Subtopic addresses an investment company's accounting for receivables (310-946-05-1) and follows the scope of Section 946-10-15 (310-946-15-1).", "Receivables shall be listed separately at net realizable value for categories including dividends and interest, investment securities sold, and capital stock sold (310-946-45-1(a)-(c)).", "Other accounts receivable — such as receivables from related parties, expense reimbursement receivables from affiliates, and variation margin on open futures contracts — must also be shown separately (310-946-45-1(d)).", "The listed categories are illustrative ('among others'), so other material receivable types warrant separate presentation as well (310-946-45-1).", "Receivables denominated in foreign currencies shall be converted into the functional currency at current exchange rates and may be categorized with the corresponding functional currency receivables (310-946-45-2)." ], "categories": [ "Presentation", "Industry-specific", "Foreign currency", "Subsequent measurement" ], "audience_level": "intermediate", "student_note": "This is a short, presentation-focused subtopic: the exam point is the required disaggregation of investment company receivables at net realizable value, not a separate measurement or impairment model. A common misunderstanding is thinking the four listed categories are exhaustive — the text says \"among others,\" so other significant receivables (e.g., affiliate reimbursements) also get their own line.", "related_topics": [ "946-10", "946-210", "830-20", "310-10", "850-10" ], "key_concepts": [ "investment company receivables", "net realizable value", "statement of assets and liabilities", "dividends and interest receivable", "receivable for securities sold", "capital stock sold receivable", "variation margin", "foreign currency translation at current rates" ] } ``` Source downloaded (UTC): 2026-09-09T23:30:18.988Z to 2026-09-09T23:30:18.988Z Record version: sha256:f66ceeb9e64d1b44879b8a8992b2653d705f51a41d1858edc1d3785120356331 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-946-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/310/946/#05-overview-and-background) SEC content: no ##### [310-946-05-1](https://asc.understandingaccounting.org/asc/310/946/#310-946-05-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:30:18.988Z to 2026-09-09T23:30:18.988Z Record version: sha256:ab437f8254fc489b7f5873d18e7bfbf0dec54626ad4e21b3f390733937420877 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic addresses an investment company's accounting for receivables. Source downloaded (UTC): 2026-09-09T23:30:23.092Z to 2026-09-09T23:30:23.092Z Record version: sha256:7df5f58e3627a013837a5ca9f660ded15604d6fab434bf499c123bd2913d5377 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-946-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/310/946/#15-scope-and-scope-exceptions) SEC content: no #### Overall Guidance ##### [310-946-15-1](https://asc.understandingaccounting.org/asc/310/946/#310-946-15-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:30:23.092Z to 2026-09-09T23:30:23.092Z Record version: sha256:8325cb74a2bca0c1c6cee00fa5b20bbb993b9cd854e7142633b0f17dd7631206 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 946-10-15. Source downloaded (UTC): 2026-09-09T23:30:29.522Z to 2026-09-09T23:30:29.522Z Record version: sha256:fefb5626ab81b861fa9ad6ad5741f3479f5a52b0cd4308add2ae17bd0549b18d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-946-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/310/946/#45-other-presentation-matters) SEC content: no #### Statement of Assets and Liabilities or Statement of Net Assets ##### [310-946-45-1](https://asc.understandingaccounting.org/asc/310/946/#310-946-45-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:30:29.522Z to 2026-09-09T23:30:29.522Z Record version: sha256:54ceb37ccaa6cc1da7de0f41eeb0a6b626dba54333097f84de927e5555fc104a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Receivables shall be listed separately at net realizable value for all of the following categories, among others: 1. a Dividends and interest 2. b Investment securities sold 3. c Capital stock sold 4. d Other accounts receivable, such as receivables from [related parties](https://asc.understandingaccounting.org/glossary/r/#related-parties "Related parties include: Affiliates of the entity Entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825-10-15, to be accounted for by the equity method by the investing entity Trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management Principal owners of the entity and members of their immediate families Management of the entity and members of their immediate families Other parties with which the entity may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests Other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests."), including expense reimbursement receivables from affiliates, and variation margin on open futures contracts. ##### [310-946-45-2](https://asc.understandingaccounting.org/asc/310/946/#310-946-45-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:30:29.522Z to 2026-09-09T23:30:29.522Z Record version: sha256:234fd18a65cfc1503cac66848ec83951582b9fef1ca60f66b3f77230865cdbf9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Receivables denominated in foreign currencies shall be converted into the functional currency at current exchange rates and may be categorized with the corresponding functional currency receivables. Source downloaded (UTC): 2026-09-09T23:30:33.053Z to 2026-09-09T23:30:33.053Z Record version: sha256:39219de6c78fa4b69ff94b83cbd4c7703a7d5257ef003c40fb1a454c6aa28818 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-946-S00: SEC 00 Status [Read section](https://asc.understandingaccounting.org/asc/310/946/#sec-00-status) SEC content: yes ##### [310-946-S00-1](https://asc.understandingaccounting.org/asc/310/946/#310-946-S00-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:30:33.053Z to 2026-09-09T23:30:33.053Z Record version: sha256:75e0f1670e8d7338884ffb3e387faa9e49568cda70e7d47188d034ffd55c03ad Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
946-310-S99-1AmendedAccounting Standards Update No. 2019-0707/26/2019
Source downloaded (UTC): 2026-09-09T23:30:36.093Z to 2026-09-09T23:30:36.093Z Record version: sha256:5663207c6e7871aeb931923f5036a63d3e004b596c741e599d8214b25fc835d4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-946-S50: SEC 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/310/946/#sec-50-disclosure) SEC content: yes #### Mortgage Loans on Real Estate and Interest Earned on Mortgages ##### [310-946-S50-1](https://asc.understandingaccounting.org/asc/310/946/#310-946-S50-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:30:36.093Z to 2026-09-09T23:30:36.093Z Record version: sha256:7cb53ee8943c0af756b7cf7255a5066838d07872f7e669e1a39a66dba323ab5a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See paragraph [946-310-S99-1](https://asc.understandingaccounting.org/asc/310/946/#310-946-S99-1), Regulation S-X Rule 12-23, for the requirements of Schedule III—Mortgage Loans on Real Estate and Interest Earned on Mortgages for face-amount certificate investment companies. Source downloaded (UTC): 2026-09-09T23:30:40.180Z to 2026-09-09T23:30:40.180Z Record version: sha256:3d76d3309cb6cd7c23eda5d59b3ec8c26bead74194776bde55764ad8cc8cbc41 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-946-S99: SEC 99 SEC Materials [Read section](https://asc.understandingaccounting.org/asc/310/946/#sec-99-sec-materials) SEC content: yes #### SEC Rules, Regulations, and Interpretations ##### [310-946-S99-1](https://asc.understandingaccounting.org/asc/310/946/#310-946-S99-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:30:40.180Z to 2026-09-09T23:30:40.180Z Record version: sha256:3d7bbdca2ce1daeb7d12c0a2f19d3eb0450acbb4d23a61a110ae9d7ab83b5480 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following is the text of Regulation S-X Rule 12-23, Mortgage Loans on Real Estate and Interest Earned on Mortgages (17 CFR 210.12-23). - ![](https://asc.understandingaccounting.org/asc-img/GUID-184E866A-3CAD-495D-A8B4-D42350CBF17A-low.gif) Reg. § 210.12-23 Mortgage Loans on Real Estate and Interest Earned on Mortgages 1 Part 1—Mortgage loans on real estate at close of period Part 2—Interest earned on mortgages Column A Column B Column C Column D Column E Column F Column G " List by classification indicated below2,3,7" Prior liens2 " Carrying amount of mortgages 8,9,10,11" "Amount of principal unpaid at close of period" Amount of mortgages being foreclosed " Interest due and accrued at end of period6 " "Interest income earned applicable to period5" " (1) Total " " (2) Subject to delinquent interest4" Liens on: ………………. ……………. …………… ……………….. ………… …………..……. ……………………… Farms (total)………....... Residential (total)…………… ……………... ……………… …………….. ………………… ………… ……………….. ……………..………. Apartments and business (total)………...……… ……………… ……………… …………… …...…………… …………. ………...……… …………………….… Unimproved (total)…….... ……………… ……………… …………….. …………… …………. ………………… …………………….. Total12…………… ……………. …………….. …………… …………… …………… …………… …………… 1 All money columns shall be totaled. 2 "If mortgages represent other than first liens, list separately in a schedule in a like manner, indicating briefly the nature of the lien. Information need not be furnished as to such liens which are fully insured or wholly guaranteed by an agency of the United States Government." 3 "In a separate schedule classify by states in which the mortgaged property is located the total amounts in support of columns B, C, D and E." 4 "(a) Interest in arrears for less than 3 months may be disregarded in computing the total amount of principal subject to delinquent interest. (b) Of the total principal amount, state the amount acquired from controlled and other affiliates." 5 "In order to reconcile the total of column G with the amount shown in the profit and loss or income statement, interest income earned applicable to period from mortgages sold or canceled during period should be added to the total of this column." 6 "If the information required by columns F and G is not reasonably available because the obtaining thereof would involve unreasonable effort or expense, such information may be omitted if the registrant shall include a statement showing that unreasonable effort or expense would be involved. In such an event, state in column G for each of the above classes of mortgage loans the average gross rate of interest on mortgage loans held at the end of the fiscal period." 7 "Each mortgage loan included in column C in an amount in excess of $500,000 shall be listed separately. Loans from $100,000 to $500,000 shall be grouped by $50,000 groups, indicating the number of loans in each group." 8 "In a footnote to this schedule, furnish a reconciliation, in the following form, of the carrying amount of mortgage loans at the beginning of the period with the total amount shown in column C: Balance at beginning of period ........................................................................................................................... $ Additions during period: New mortgage loans ............................................................................................. $ Other (describe) ................................................................................................... $ Deductions during period: ...................................................................................... $ Collections of principal .......................................................................................... Foreclosures ........................................................................................................ Cost of mortgages sold .......................................................................................... Amortization of premium ........................................................................................ Other (describe) .................................................................................................... Balance at close of period ................................................................................................................................... $ " "If additions represent other than cash expenditures, explain. If any of the changes during the period result from transactions, directly or indirectly with affiliates, explain the bases of such transactions, and amounts involved. State the aggregate amount of mortgages (a) renewed and (b) extended. If the carrying amount of the new mortgages is in excess of the unpaid amount (not including interest) of prior mortgages, explain." 9 If any item of mortgage loans on real estate investments has been written down or reserved against pursuant to § 210.6-03 describe the item and explain the basis for the write-down or reserve. 10 State in a footnote to column C the aggregate cost for Federal income tax purposes. 11 "If the total amount shown in column C includes intercompany profits, state the bases of the transactions resulting in such profits and, if practicable, state the amounts thereof." 12 Summarize the aggregate amounts for each column applicable to § 210.6-06(1) and 6-06(5)(a). \[16 FR 348, Jan. 13, 1951, as amended at 16 FR 2655, Mar. 24, 1951; 83 FR 50208, Oct. 4, 2018\]