# ASC 320-940-30: Investments—Debt Securities — Financial Services—Brokers and Dealers — 30 Initial Measurement

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/320/940/#30-initial-measurement)

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## ASC 320-940-30: 30 Initial Measurement

[Read section](https://asc.understandingaccounting.org/asc/320/940/#30-initial-measurement)

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#### Clearance and Settlement

##### [320-940-30-1](https://asc.understandingaccounting.org/asc/320/940/#320-940-30-1)

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Accrued interest earned on fixed-income securities shall be computed from the last coupon payment date up to the settlement date. This amount shall be paid to the seller of the instrument by the purchaser, who then receives the full periodic interest amount on the next coupon payment date.

### Proprietary Trading Securities

##### [320-940-30-2](https://asc.understandingaccounting.org/asc/320/940/#320-940-30-2)

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A broker-dealer may buy and sell securities for its own account. Security positions resulting from proprietary trading shall be measured initially at [fair value](https://asc.understandingaccounting.org/glossary/f/#fair-value "The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date."), including both of the following:

1.  a
    
    Inventory
    
2.  b
    
    Obligations for short inventory positions.