# ASC 405-942-45: Liabilities — Financial Services—Depository and Lending — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/405/942/#45-other-presentation-matters)

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## ASC 405-942-45: 45 Other Presentation Matters

[Read section](https://asc.understandingaccounting.org/asc/405/942/#45-other-presentation-matters)

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#### Short Sales of Securities

##### [405-942-45-1](https://asc.understandingaccounting.org/asc/405/942/#405-942-45-1)

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The fair value adjustment on short sales of securities shall be classified in the income statement with gains and losses on securities.

#### Redeemable Preferred Stock Dividends

##### [405-942-45-2](https://asc.understandingaccounting.org/asc/405/942/#405-942-45-2)

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For redeemable preferred stock of a [subsidiary](https://asc.understandingaccounting.org/glossary/s/#subsidiary "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.)") accounted for as a liability in a parent's [consolidated financial statements](https://asc.understandingaccounting.org/glossary/c/#consolidated-financial-statements "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."), dividends shall be included in the determination of income as interest expense. For redeemable preferred stock of a subsidiary accounted for as a [noncontrolling interest](https://asc.understandingaccounting.org/glossary/n/#noncontrolling-interest "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.") in a subsidiary in a [parent's](https://asc.understandingaccounting.org/glossary/p/#parent "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.)") 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.

#### Member Deposits

##### [405-942-45-3](https://asc.understandingaccounting.org/asc/405/942/#405-942-45-3)

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The statement of financial condition of credit unions and corporate credit unions shall either:

1.  a
    
    Present deposit accounts as the first item in the liabilities and equity section
    
2.  b
    
    Include deposit accounts within a captioned subtotal for total liabilities.
    

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.

##### [405-942-45-4](https://asc.understandingaccounting.org/asc/405/942/#405-942-45-4)

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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.