{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/320/940/#45-other-presentation-matters","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":"320","topic_title":"Investments—Debt Securities","subtopic":"320-940","subtopic_title":"Financial Services—Brokers and Dealers","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":"Proprietary Trading Securities","heading":"Consolidation","paragraphs":[{"citation":"320-940-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">For guidance on consolidation of majority-owned investee entities, see paragraph <a href=\"/asc/810/940/#810-940-45-1\" class=\"xref\">940-810-45-1</a>.</div></div>","snippet":"For guidance on consolidation of majority-owned investee entities, see paragraph 940-810-45-1.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4079a3ff622588c5ac74f22e3d5b86da4a6f0d1e047c595e1b8f3fbdb7c204bc","downloaded_from":"2026-09-09T23:35:52.462Z","last_downloaded_at":"2026-09-09T23:35:52.462Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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securities transactions entered into by a broker-dealer for trading or investment purposes shall be included in securities owned and securities sold, not yet purchased. </span></span></div></div>","snippet":"Proprietary securities transactions entered into by a broker-dealer for trading or investment purposes shall be included in securities owned and securities sold, not yet purchased.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:efe090c043499aa39d40be7bddda2fbfae878d88c0c0e7fd99e689d4136bbce8","downloaded_from":"2026-09-09T23:35:52.462Z","last_downloaded_at":"2026-09-09T23:35:52.462Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479035","source_sha256":"f15e9b806d880ba2d00dc4416e5b8c3830201e78677568e3600199d4143a65a6"}},{"citation":"320-940-45-3","para":"45-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EE3846DB-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Payables and receivables arising from unsettled <a href=\"/glossary/r/#regular-way-trades\" class=\"term\" title=\"Regular-way trades include both of the following: All transactions in exchange-traded financial instruments that are expected to settle within the standard settlement cycle of that exchange (for example, three days for U.S. exchanges) All transactions in cash-market-traded financial instruments that are expected to settle within the time frame prevalent or traditional for each specific instrument (for example, for U.S. government securities, one or two days).\"><span>regular-way trades</span></a> may be recorded net in an account titled net receivable (or payable) for unsettled regular-way trades. </span></span></div></div>","snippet":"Payables and receivables arising from unsettled regular-way trades may be recorded net in an account titled net receivable (or payable) for unsettled regular-way trades.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d1567ed1f7a6b609f04bafc39f72c52484fa7ba9adcf2831623ad8cb86a007bf","downloaded_from":"2026-09-09T23:35:52.462Z","last_downloaded_at":"2026-09-09T23:35:52.462Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479035","source_sha256":"f15e9b806d880ba2d00dc4416e5b8c3830201e78677568e3600199d4143a65a6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c64325d3e4ec83d7902779000187ae20667516d5fa125524d14090cbee2d21fd","downloaded_from":"2026-09-09T23:35:52.462Z","last_downloaded_at":"2026-09-09T23:35:52.462Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479035","source_sha256":"f15e9b806d880ba2d00dc4416e5b8c3830201e78677568e3600199d4143a65a6"}},{"block":"Proprietary Trading Securities","heading":"Income Statement","paragraphs":[{"citation":"320-940-45-4","para":"45-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EE384873-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The changes in the <a href=\"/glossary/f/#fair-value\" class=\"term\" title=\"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.\"><span>fair value</span></a> of fixed-income securities owned that were purchased at a discount or premium is composed of accreted interest income or changes in the fair value of the securities or both. </span></span><span class=\"sfragment\" id=\"sfr_EE3849B3-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Consideration should be given to reporting these components separately as interest income and trading gains and losses, respectively. </span></span></div></div>","snippet":"The changes in the fair value of fixed-income securities owned that were purchased at a discount or premium is composed of accreted interest income or changes in the fair value of the securities or both. Consideration sh…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:656dc79c12111527fdd2ad5b8510974fecd97cdb701ffd46dc093c231611b8f0","downloaded_from":"2026-09-09T23:35:52.462Z","last_downloaded_at":"2026-09-09T23:35:52.462Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479035","source_sha256":"f15e9b806d880ba2d00dc4416e5b8c3830201e78677568e3600199d4143a65a6"}},{"citation":"320-940-45-5","para":"45-5","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EE384B08-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Trading gains and losses, which are composed of both realized and unrealized gains and losses, shall generally be presented net. </span></span></div></div>","snippet":"Trading gains and losses, which are composed of both realized and unrealized gains and losses, shall generally be presented net.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cfb5c441e62931e1132f985e856882c1d53ca0bb7bb6bce294de05b948cc3623","downloaded_from":"2026-09-09T23:35:52.462Z","last_downloaded_at":"2026-09-09T23:35:52.462Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479035","source_sha256":"f15e9b806d880ba2d00dc4416e5b8c3830201e78677568e3600199d4143a65a6"}},{"citation":"320-940-45-6","para":"45-6","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EE384C6C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The income and expense resulting from complex trading strategies as described in paragraph <a href=\"/asc/320/940/#320-940-05-3\" class=\"xref\">940-320-05-3</a> may be reflected net in the income statement, with disclosure of the gross components either on the face of the income statement or in the notes to financial statements. </span></span></div></div>","snippet":"The income and expense resulting from complex trading strategies as described in paragraph 940-320-05-3 may be reflected net in the income statement, with disclosure of the gross components either on the face of the inco…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bcf6bceb54f4b2fb96b3ed72fb4a2610b8ddb4744fe9eee20aeaa9c40cab5a00","downloaded_from":"2026-09-09T23:35:52.462Z","last_downloaded_at":"2026-09-09T23:35:52.462Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479035","source_sha256":"f15e9b806d880ba2d00dc4416e5b8c3830201e78677568e3600199d4143a65a6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:835a4b3ea8e5b7c473c281fcac062821b6c9312f5f025721504c3995800e89b6","downloaded_from":"2026-09-09T23:35:52.462Z","last_downloaded_at":"2026-09-09T23:35:52.462Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479035","source_sha256":"f15e9b806d880ba2d00dc4416e5b8c3830201e78677568e3600199d4143a65a6"}},{"block":"Proprietary Trading Securities","heading":"Statement of Cash Flows","paragraphs":[{"citation":"320-940-45-7","para":"45-7","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EE384DBD-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Broker-dealers shall report their trading securities activities in the operating section of the statement of cash flows. </span></span></div></div>","snippet":"Broker-dealers shall report their trading securities activities in the operating section of the statement of cash flows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8836793a62ad6dce6d0c8d0dfcbc5024f5c25fd6dfce468eff06ac367135a331","downloaded_from":"2026-09-09T23:35:52.462Z","last_downloaded_at":"2026-09-09T23:35:52.462Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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