{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/405/940/#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":"405","topic_title":"Liabilities","subtopic":"405-940","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":null,"heading":null,"paragraphs":[{"citation":"405-940-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EF557A2D-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Stock-loan and <a href=\"/glossary/r/#repurchase-agreement\" class=\"term\" title=\"An agreement under which the transferor (repo party) transfers a financial asset to a transferee (repo counterparty or reverse party) in exchange for cash and concurrently agrees to reacquire that financial asset at a future date for an amount equal to the cash exchanged plus or minus a stipulated interest factor. Instead of cash, other securities or letters of credit sometimes are exchanged. Some repurchase agreements call for repurchase of financial assets that need not be identical to the financial assets transferred.\"><span>repurchase transactions</span></a> may be entered into for the purpose of financing positions (such as in lieu of a bank loan). </span></span>Topic <a altsource=\"GUID-E53370AF-0D20-4F9A-BBE9-2A4A9016D32F.ditamap\" class=\"ditamap\">860</a> provides general guidance on such transactions.<span class=\"sfragment\" id=\"sfr_EF557B60-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> If such transactions are accounted for as financing transactions, the rebate or interest expense shall be reflected in the income statement as an expense separate and apart from any trading gains or losses. </span></span></div></div>","snippet":"Stock-loan and repurchase transactions may be entered into for the purpose of financing positions (such as in lieu of a bank loan). Topic 860 provides general guidance on such transactions. If such transactions are accou…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:87665609c5bb19fa7983a656908393e48e1245bf04553c4bc6b4ad89d056bf4f","downloaded_from":"2026-09-10T00:18:17.313Z","last_downloaded_at":"2026-09-10T00:18:17.313Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478779","source_sha256":"d1ee70c59e6959fbcc2f1b347a55cf2616b6d6608f8fc06e75c04478500b84e9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cfcfe32aebb6bc9dd7c1804a6fb72e98f13e2d8976597fefaac4bbdacbd71a1d","downloaded_from":"2026-09-10T00:18:17.313Z","last_downloaded_at":"2026-09-10T00:18:17.313Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478779","source_sha256":"d1ee70c59e6959fbcc2f1b347a55cf2616b6d6608f8fc06e75c04478500b84e9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:249d0c7fa62458e00b7ebb7cba9c87dd2bca96970c6695b181f9f93013e51eab","downloaded_from":"2026-09-10T00:18:17.313Z","last_downloaded_at":"2026-09-10T00:18:17.313Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478779","source_sha256":"d1ee70c59e6959fbcc2f1b347a55cf2616b6d6608f8fc06e75c04478500b84e9"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:249d0c7fa62458e00b7ebb7cba9c87dd2bca96970c6695b181f9f93013e51eab","downloaded_from":"2026-09-10T00:18:17.313Z","last_downloaded_at":"2026-09-10T00:18:17.313Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478779","source_sha256":"d1ee70c59e6959fbcc2f1b347a55cf2616b6d6608f8fc06e75c04478500b84e9"}}