{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/320/946/#40-derecognition","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":"320-946","subtopic_title":"Financial Services—Investment Companies","section":{"number":"40","label":"40 Derecognition","anchor":"40-derecognition","is_sec":false,"groups":[{"block":null,"heading":"Determining Costs and Realized Gains and Losses","paragraphs":[{"citation":"320-946-40-1","para":"40-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_1216400A-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The cost of investment securities held in the portfolio of an investment company and the net realized gains or losses thereon shall be determined on the specific identification or average-cost methods. </span></span><span class=\"sfragment\" id=\"sfr_1216411E-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">An investment company shall use only one method for all of its investments. </span></span></div></div>","snippet":"The cost of investment securities held in the portfolio of an investment company and the net realized gains or losses thereon shall be determined on the specific identification or average-cost methods. An investment comp…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:edb66c705ac1f61b5b13a4282d93c9f825cdf663e073ad92360266d29f37fea0","downloaded_from":"2026-09-09T23:36:50.981Z","last_downloaded_at":"2026-09-09T23:36:50.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478365","source_sha256":"498d0917e3cf81c3d659b748c2e892d7e6060b73be763dd2abcaad6c50716153"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8b86892be6a96a5c2d245eb06b73b3f7d6fa2c1713367e8d69e2dd2c65b7ebe8","downloaded_from":"2026-09-09T23:36:50.981Z","last_downloaded_at":"2026-09-09T23:36:50.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478365","source_sha256":"498d0917e3cf81c3d659b748c2e892d7e6060b73be763dd2abcaad6c50716153"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6f2651897614ad0c6237c33daf3eccb9f1762e32e056497dc881eb180ec9ef87","downloaded_from":"2026-09-09T23:36:50.981Z","last_downloaded_at":"2026-09-09T23:36:50.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478365","source_sha256":"498d0917e3cf81c3d659b748c2e892d7e6060b73be763dd2abcaad6c50716153"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6f2651897614ad0c6237c33daf3eccb9f1762e32e056497dc881eb180ec9ef87","downloaded_from":"2026-09-09T23:36:50.981Z","last_downloaded_at":"2026-09-09T23:36:50.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478365","source_sha256":"498d0917e3cf81c3d659b748c2e892d7e6060b73be763dd2abcaad6c50716153"}}