# ASC 320-940-45: Investments—Debt Securities — Financial Services—Brokers and Dealers — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/320/940/#45-other-presentation-matters)

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## ASC 320-940-45: 45 Other Presentation Matters

[Read section](https://asc.understandingaccounting.org/asc/320/940/#45-other-presentation-matters)

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### Proprietary Trading Securities

#### Consolidation

##### [320-940-45-1](https://asc.understandingaccounting.org/asc/320/940/#320-940-45-1)

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For guidance on consolidation of majority-owned investee entities, see paragraph [940-810-45-1](https://asc.understandingaccounting.org/asc/810/940/#810-940-45-1).

#### Balance Sheet

##### [320-940-45-2](https://asc.understandingaccounting.org/asc/320/940/#320-940-45-2)

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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.

##### [320-940-45-3](https://asc.understandingaccounting.org/asc/320/940/#320-940-45-3)

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Payables and receivables arising from unsettled [regular-way trades](https://asc.understandingaccounting.org/glossary/r/#regular-way-trades "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).") may be recorded net in an account titled net receivable (or payable) for unsettled regular-way trades.

#### Income Statement

##### [320-940-45-4](https://asc.understandingaccounting.org/asc/320/940/#320-940-45-4)

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The changes in the [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.") 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 should be given to reporting these components separately as interest income and trading gains and losses, respectively.

##### [320-940-45-5](https://asc.understandingaccounting.org/asc/320/940/#320-940-45-5)

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Trading gains and losses, which are composed of both realized and unrealized gains and losses, shall generally be presented net.

##### [320-940-45-6](https://asc.understandingaccounting.org/asc/320/940/#320-940-45-6)

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The income and expense resulting from complex trading strategies as described in paragraph [940-320-05-3](https://asc.understandingaccounting.org/asc/320/940/#320-940-05-3) 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.

#### Statement of Cash Flows

##### [320-940-45-7](https://asc.understandingaccounting.org/asc/320/940/#320-940-45-7)

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Broker-dealers shall report their trading securities activities in the operating section of the statement of cash flows.