{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/405/942/#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":"405-942","subtopic_title":"Financial Services—Depository and Lending","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Short Sales of Securities","paragraphs":[{"citation":"405-942-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_F5AD8CB8-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The fair value adjustment on short sales of securities shall be classified in the income statement with gains and losses on securities. </span></span></div></div>","snippet":"The fair value adjustment on short sales of securities shall be classified in the income statement with gains and losses on securities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2638a4b9a518b6fe95be6b549c5976f6f7a791509bacf2353a7baf056b59d883","downloaded_from":"2026-09-10T00:18:44.394Z","last_downloaded_at":"2026-09-10T00:18:44.394Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477787","source_sha256":"0fb2257cc38cd18a38c75824f27229b83aaf22d8df43c25a73bf83e7e52cf25d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:491da17a8a55d8a511afdfbab707a58c2d45858f1b42e4e0fbdd29a36bfa1a27","downloaded_from":"2026-09-10T00:18:44.394Z","last_downloaded_at":"2026-09-10T00:18:44.394Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477787","source_sha256":"0fb2257cc38cd18a38c75824f27229b83aaf22d8df43c25a73bf83e7e52cf25d"}},{"block":null,"heading":"Redeemable Preferred Stock Dividends","paragraphs":[{"citation":"405-942-45-2","para":"45-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_F5AD8DD1-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">For redeemable preferred stock of a <a href=\"/glossary/s/#subsidiary\" class=\"term\" title=\"An entity, including an unincorporated entity such as a partnership or trust, in which another entity, known as its parent, holds a controlling financial interest. (Also, a variable interest entity that is consolidated by a primary beneficiary.)\"><span>subsidiary</span></a> accounted for as a liability in a parent's <a href=\"/glossary/c/#consolidated-financial-statements\" class=\"term\" title=\"The financial statements of a consolidated group of entities that include a parent and all its subsidiaries presented as those of a single economic entity.\"><span>consolidated financial statements</span></a>, dividends shall be included in the determination of income as interest expense. For redeemable preferred stock of a subsidiary accounted for as a <a href=\"/glossary/n/#noncontrolling-interest\" class=\"term\" title=\"The portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent. A noncontrolling interest is sometimes called a minority interest.\"><span>noncontrolling interest</span></a> in a subsidiary in a <a href=\"/glossary/p/#parent\" class=\"term\" title=\"An entity that has a controlling financial interest in one or more subsidiaries. (Also, an entity that is the primary beneficiary of a variable interest entity.)\"><span>parent's</span></a> consolidated financial statements, the dividends shall be presented as noncontrolling interest in income of a subsidiary. For redeemable preferred stock of a parent treated as capital, but displayed in the balance sheet as mezzanine capital, dividends shall be included in the statement of changes in shareholders' equity. </span></span></div></div>","snippet":"For redeemable preferred stock of a subsidiary accounted for as a liability in a parent's consolidated financial statements, dividends shall be included in the determination of income as interest expense. For redeemable …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0a241250fe6d71f733e30c438df20cf0a51a726fdfc82e277ddea3c43ecff65e","downloaded_from":"2026-09-10T00:18:44.394Z","last_downloaded_at":"2026-09-10T00:18:44.394Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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credit unions and corporate credit unions </span></span><span class=\"sfragment\" id=\"sfr_F5AD8F9C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">shall either: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_F5AD906D-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Present deposit accounts as the first item in the liabilities and equity section </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_F5AD9141-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Include deposit accounts within a captioned subtotal for total liabilities. </span></span></div></li></ol><span class=\"sfragment\" id=\"sfr_F5AD9207-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">An unclassified presentation whereby all liabilities and equity are shown together under one subheading and savings accounts are presented as the last item before retained earnings shall not be an acceptable presentation. </span></span></div></div>","snippet":"The statement of financial condition of credit unions and corporate credit unions shall either:\n(a) Present deposit accounts as the first item in the liabilities and equity section\n(b) Include deposit accounts within a c…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bd26888a9120f27e370a69aacd51666c8311e329414865d564ca9e232ceb0aa1","downloaded_from":"2026-09-10T00:18:44.394Z","last_downloaded_at":"2026-09-10T00:18:44.394Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477787","source_sha256":"0fb2257cc38cd18a38c75824f27229b83aaf22d8df43c25a73bf83e7e52cf25d"}},{"citation":"405-942-45-4","para":"45-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_F5AD92D6-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The interest paid or accrued on these accounts, commonly referred to as dividends, shall be reported as an expense on the statement of income, and the amount of interest payable to members shall be included as a liability in the statement of financial condition. </span></span></div></div>","snippet":"The interest paid or accrued on these accounts, commonly referred to as dividends, shall be reported as an expense on the statement of income, and the amount of interest payable to members shall be included as a liabilit…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f2df08cac4fa2576badadac62aaea2da66e305cff087cd1c367efd3bb0caedfe","downloaded_from":"2026-09-10T00:18:44.394Z","last_downloaded_at":"2026-09-10T00:18:44.394Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477787","source_sha256":"0fb2257cc38cd18a38c75824f27229b83aaf22d8df43c25a73bf83e7e52cf25d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:149afaf688534438855d08c2b5d148e70c646399e95b7c8ee5938acd71948d26","downloaded_from":"2026-09-10T00:18:44.394Z","last_downloaded_at":"2026-09-10T00:18:44.394Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not 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