{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/505/946/","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.","number":"505-946","topic":"505","title":"Financial Services—Investment Companies","area":"Equity","paragraphs":10,"summary":"This Subtopic governs equity transactions and reporting for investment companies, focusing on capital share transactions and distributions to shareholders. It requires per-class disclosure of net asset value per share and the components of the net change in net assets from capital share transactions, along with tax-basis components of dividends paid. Return of capital is determined only at the fund level, not per class.","concepts":["net asset value per share","capital share transactions","multiple classes of shares","distributions to shareholders","return of capital","tax-basis components of dividends","equalization accounting","net investment income"],"categories":["Disclosure","Industry-specific","Debt and equity","Financial statement presentation"],"level":"intermediate","topic_title":"Equity","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"505-946-05-1","para":"05-1","html":"
This Subtopic addresses equity transactions and reporting for investment companies, including distributions to shareholders.
","snippet":"This Subtopic addresses equity transactions and reporting for investment companies, including distributions to shareholders.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:63656ed0af331daa5215b77785a590caf6125621472873456c850ff2079a3f3e","downloaded_from":"2026-09-10T00:40:45.017Z","last_downloaded_at":"2026-09-10T00:40:45.017Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477357","source_sha256":"931d29b76aea3f64a048e57747f06fbee9dfb8f509ddb6af20bfc0f64fea6435"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a4894001daea36c1c08b4a811402c77d52ec0818a98192d5e4a1339effe77040","downloaded_from":"2026-09-10T00:40:45.017Z","last_downloaded_at":"2026-09-10T00:40:45.017Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477357","source_sha256":"931d29b76aea3f64a048e57747f06fbee9dfb8f509ddb6af20bfc0f64fea6435"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0c1a27a32e09f05203d09e8d1bd636dafa63cfcef3bea7673289f92478e81920","downloaded_from":"2026-09-10T00:40:45.017Z","last_downloaded_at":"2026-09-10T00:40:45.017Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477357","source_sha256":"931d29b76aea3f64a048e57747f06fbee9dfb8f509ddb6af20bfc0f64fea6435"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"505-946-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 946-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 946-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cce0deb7b5ec97ee513367769dfe183ca23431a92d5f866e0fcc9c2585a7a7f3","downloaded_from":"2026-09-10T00:40:48.723Z","last_downloaded_at":"2026-09-10T00:40:48.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478564","source_sha256":"366005a9b05cc66eb699f4ae84565216965cd18020d75fe3e3ce4cf8ac8b58ba"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:09c2c65b2ce895e95532da5ec4970e959298266f98fe0fa77d2ac15dc87d6cea","downloaded_from":"2026-09-10T00:40:48.723Z","last_downloaded_at":"2026-09-10T00:40:48.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478564","source_sha256":"366005a9b05cc66eb699f4ae84565216965cd18020d75fe3e3ce4cf8ac8b58ba"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c01fe43410052f86db351056617243d2f8dbee32dae9773ee38daf9ed056315b","downloaded_from":"2026-09-10T00:40:48.723Z","last_downloaded_at":"2026-09-10T00:40:48.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478564","source_sha256":"366005a9b05cc66eb699f4ae84565216965cd18020d75fe3e3ce4cf8ac8b58ba"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Net Asset Value per Share","paragraphs":[{"citation":"505-946-50-1","para":"50-1","html":"
Net asset value per share shall be disclosed for each class of shares.
","snippet":"Net asset value per share shall be disclosed for each class of shares.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d6d4ac95d927c514503cc784948a979a3596a645724a8ec83896f5c29e54eb1a","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ea4ad00087643d9d9f184d716d6cc3668fb5d6b99f76aed04a51aa606864f36d","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}},{"block":null,"heading":"Capital Share Transactions","paragraphs":[{"citation":"505-946-50-2","para":"50-2","html":"
The net change in net assets (excluding amounts shown separately if equalization accounting is used) arising from capital share transactions shall be disclosed for each class of shares. All of the following components of the change shall be disclosed on the face of the statement or in the notes to financial statements for each class of shares:
  1. a
    The number and value of shares sold
  2. b
    The number and value of shares issued in reinvestment of distributions
  3. c
    The number and cost of shares reacquired
  4. d
    The net change.
","snippet":"The net change in net assets (excluding amounts shown separately if equalization accounting is used) arising from capital share transactions shall be disclosed for each class of shares. All of the following components of…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8fad3660ffc008841902960953144b1b1c0346fe635ef394ecdf835f320bd157","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:82470e348a65b474e655c89f95162d1b0b127ab64038bc68dfbbd4b392730af5","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}},{"block":null,"heading":"Capital Contributions","paragraphs":[{"citation":"505-946-50-3","para":"50-3","html":"
Net assets at the beginning of the year and at the end of the year shall be disclosed. The balance of net assets at the end of the year shall agree with the comparable amount shown in the statement of assets and liabilities or in the statement of net assets.
","snippet":"Net assets at the beginning of the year and at the end of the year shall be disclosed. The balance of net assets at the end of the year shall agree with the comparable amount shown in the statement of assets and liabilit…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:39802155c0ff9b1caf8ade96d2b0a64046f6fa3b3a5b8783c7d60031a8a8a7f1","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9258b3153f177381dd6369e22aea76a42151e6dcbb3aac74afbc08d5068cc63d","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}},{"block":null,"heading":"Multiple-Class Funds","paragraphs":[{"citation":"505-946-50-4","para":"50-4","html":"
For financial reporting purposes, a return of capital is not determined at the class level and distributable earnings is disclosed only at the fund level.
","snippet":"For financial reporting purposes, a return of capital is not determined at the class level and distributable earnings is disclosed only at the fund level.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5c7af31300c05a953411618501b8df9b4eb148d3a6b78d503abd58b0bf18951b","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c4161b87d4ff526fb7c45d4c1288a099e6ebd345918a94f1db0394b5735a7bc","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}},{"block":null,"heading":"Dividends Paid","paragraphs":[{"citation":"505-946-50-5","para":"50-5","html":"
All of the following tax-basis components of dividends paid shall be disclosed in the notes:
  1. a
    Ordinary income distributions
  2. b
    Long-term capital gains distributions
  3. c
    Return of capital distributions.
","snippet":"All of the following tax-basis components of dividends paid shall be disclosed in the notes:\n(a) Ordinary income distributions\n(b) Long-term capital gains distributions\n(c) Return of capital distributions.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1dd3d693ca3178508c6cedb42cc216bf26b738ccd50f1d01f2e5d90b9cf07e79","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:838f1e23614d410f297434166f3b8164befcd76c4541e8528a4162f480262b5c","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}},{"block":null,"heading":"Difference Between Net Investment Income and Net Realized Gain and Actual Distributions","paragraphs":[{"citation":"505-946-50-6","para":"50-6","html":"
The primary reasons for any significant difference between total net investment income determined in accordance with generally accepted accounting principles (GAAP) and net realized gain and actual distributions shall be disclosed in the notes to financial statements.
","snippet":"The primary reasons for any significant difference between total net investment income determined in accordance with generally accepted accounting principles (GAAP) and net realized gain and actual distributions shall be…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8d42c4829b9abede94eb052df8e15346f85ac9d1aaeea7467307bf2dd08ae964","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:76e5151660cfece35a4d3629975e4d2250999c67eaf1b125956e7dbb88fa2b19","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ce6abab8379577b284559164a7bbc0fedc3b56ae0bdfc3fd13b9cbedfa262e78","downloaded_from":"2026-09-10T00:40:54.495Z","last_downloaded_at":"2026-09-10T00:40:54.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478448","source_sha256":"af08955740f6848c3c031704cc4fe2cb0f519e6df5bd48207290171b4cb42ea0"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"505-946-55-1","para":"55-1","html":"
This Example illustrates the record-share, actual-income-available, and simultaneous-equations methods generally used to calculate distributions to shareholders from net investment income.
","snippet":"This Example illustrates the record-share, actual-income-available, and simultaneous-equations methods generally used to calculate distributions to shareholders from net investment income.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e793c96f0beb8178369392332a6ae5df9e086ed3eab76d63d93207ad08bc137f","downloaded_from":"2026-09-10T00:40:58.343Z","last_downloaded_at":"2026-09-10T00:40:58.343Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478248","source_sha256":"4f708099c6d2462a9aec3486a5548af9a7742cb8dddd4d0e399adcde86b3867a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de885ae070da2e52fcfb689bd97cee6fe1cdea0483c2da37bf3c3ae2b2598c14","downloaded_from":"2026-09-10T00:40:58.343Z","last_downloaded_at":"2026-09-10T00:40:58.343Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478248","source_sha256":"4f708099c6d2462a9aec3486a5548af9a7742cb8dddd4d0e399adcde86b3867a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6501d7fd0319d0d2a2eae8f84fa0890a080356d07f55329f1033ec5ccccbf937","downloaded_from":"2026-09-10T00:40:58.343Z","last_downloaded_at":"2026-09-10T00:40:58.343Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478248","source_sha256":"4f708099c6d2462a9aec3486a5548af9a7742cb8dddd4d0e399adcde86b3867a"}},{"number":"S50","label":"SEC 50 Disclosure","anchor":"sec-50-disclosure","is_sec":true,"groups":[{"block":null,"heading":"Issuance and Repurchase by a Registered Investment Company of Its Own Securities","paragraphs":[{"citation":"505-946-S50-1","para":"S50-1","html":"
See paragraph 946-10-S99-3, Regulation S-X Rule 6-03(i), for the required disclosures pertaining to the issuance and repurchase by a registered investment company of its own securities.
","snippet":"See paragraph 946-10-S99-3, Regulation S-X Rule 6-03(i), for the required disclosures pertaining to the issuance and repurchase by a registered investment company of its own securities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d22ae08fdc9c4d49ed98b766ca2cdc9c1ad84eddb172a00e3b15f4e9a1545f2","downloaded_from":"2026-09-10T00:41:01.868Z","last_downloaded_at":"2026-09-10T00:41:01.868Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478130","source_sha256":"6ad5e2e6579d004187c3c6dc4e1a784357de85e54e3af0873c88e595f5ae681b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f61bff272a6ea44f84f068d61a99d6588e4df364b74d59c1c9fdd683102b2e69","downloaded_from":"2026-09-10T00:41:01.868Z","last_downloaded_at":"2026-09-10T00:41:01.868Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478130","source_sha256":"6ad5e2e6579d004187c3c6dc4e1a784357de85e54e3af0873c88e595f5ae681b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a3e0ff49ea3b76ca2e1a5d1a0ca2fcaea2bc648df86fec280297458aafa8e1b4","downloaded_from":"2026-09-10T00:41:01.868Z","last_downloaded_at":"2026-09-10T00:41:01.868Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478130","source_sha256":"6ad5e2e6579d004187c3c6dc4e1a784357de85e54e3af0873c88e595f5ae681b"}}],"enrichment":{"summary":"This Subtopic governs equity transactions and reporting for investment companies, focusing on capital share transactions and distributions to shareholders. It requires per-class disclosure of net asset value per share and the components of the net change in net assets from capital share transactions, along with tax-basis components of dividends paid. Return of capital is determined only at the fund level, not per class.","key_points":["Net asset value per share must be disclosed for each class of shares (505-946-50-1).","The net change in net assets from capital share transactions must be disclosed by class, showing the number and value of shares sold, shares issued in reinvestment of distributions, the number and cost of shares reacquired, and the net change (505-946-50-2).","Net assets at the beginning and end of the year must be disclosed, and the ending balance must agree with the statement of assets and liabilities or statement of net assets (505-946-50-3).","For financial reporting, a return of capital is not determined at the class level, and distributable earnings is disclosed only at the fund level (505-946-50-4).","Notes must disclose the tax-basis components of dividends paid: ordinary income distributions, long-term capital gains distributions, and return of capital distributions (505-946-50-5).","Notes must explain the primary reasons for any significant difference between GAAP net investment income and net realized gain and actual distributions (505-946-50-6).","Scope follows the Overall Investment Companies Subtopic scope in Section 946-10-15 (505-946-15-1); Section 55 illustrates the record-share, actual-income-available, and simultaneous-equations methods for calculating distributions from net investment income."],"categories":["Disclosure","Industry-specific","Debt and equity","Financial statement presentation"],"audience_level":"intermediate","student_note":"Mutual fund financial statements live or die on the statement of changes in net assets; know that share-transaction detail (sold, reinvested, reacquired, net change) is required class-by-class. A common misunderstanding is assuming return of capital and distributable earnings are computed per class — under 505-946-50-4 they are fund-level determinations only.","related_topics":["946-10","946-205","946-505","946-830","505-10","740-10"],"key_concepts":["net asset value per share","capital share transactions","multiple classes of shares","distributions to shareholders","return of capital","tax-basis components of dividends","equalization accounting","net investment income"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2a3d7366fc209d8272ebe867c3fc238aba9d1c1f5e417c818f902a0ba78bc7cf","downloaded_from":"2026-09-10T00:40:45.017Z","last_downloaded_at":"2026-09-10T00:41:01.868Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"235-946","title":"Financial Services—Investment Companies","topic_title":"Notes to Financial Statements","score":0.7528,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:073f88e6e416a9dc194b5105124a69b6a97a66501567bb358ec3a3c6c90da240","downloaded_from":"2026-09-09T23:16:22.805Z","last_downloaded_at":"2026-09-09T23:16:36.179Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"220-946","title":"Financial Services—Investment Companies","topic_title":"Income Statement—Reporting Comprehensive Income","score":0.7354,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8b8e55453738f398572c0646050647e8cbfbc466c4e0cb6b7a8f310357d2d860","downloaded_from":"2026-09-09T23:06:14.562Z","last_downloaded_at":"2026-09-09T23:06:52.794Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"946-20","title":"Investment Company Activities","topic_title":"Financial Services—Investment Companies","score":0.7266,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:695f7ab01c82fe15c9c3afd0760a69d2c828ca7391f121834bd223832ffee04f","downloaded_from":"2026-09-10T02:19:28.974Z","last_downloaded_at":"2026-09-10T02:20:03.597Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"321-10","title":"Overall","topic_title":"Investments—Equity Securities","score":0.7158,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f0c7199e91757a9de8df6f256412873944b616c8fddced84f4ea47b4bf151cef","downloaded_from":"2026-09-09T23:38:42.777Z","last_downloaded_at":"2026-09-09T23:39:16.979Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-942","title":"Financial Services—Depository and Lending","topic_title":"Balance Sheet","score":0.696,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a0eff5048afb7247f1c7dcb4ad3085361e1fb130e284012b291f50be980c24d3","downloaded_from":"2026-09-09T23:00:23.086Z","last_downloaded_at":"2026-09-09T23:00:53.507Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"321-958","title":"Not-for-Profit Entities","topic_title":"Investments—Equity Securities","score":0.6951,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3588bb6f37dfe5efe6921d67c3084161305c9be4c91186e753677fe6ca09ea93","downloaded_from":"2026-09-09T23:39:19.084Z","last_downloaded_at":"2026-09-09T23:39:42.812Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"505-944","title":"Financial Services—Insurance","topic_title":"Equity","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e6d296468514d61dbcc4a11b197072edb937f3075d7bcd8e8a8f18f36a054bae","downloaded_from":"2026-09-10T00:40:25.190Z","last_downloaded_at":"2026-09-10T00:40:41.119Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"605-10","title":"Overall","topic_title":"Revenue Recognition","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a229ad3d67cc44cd8567ee54de3761911950d6d4c5ce3bf0ddfb3d447c694f43","downloaded_from":"2026-09-10T00:41:05.306Z","last_downloaded_at":"2026-09-10T00:41:29.256Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5a6b76e12d4c53dfe80765b52eb605048727904b93e3ee06a8a0fd3799f0d050","downloaded_from":"2026-09-10T00:40:45.017Z","last_downloaded_at":"2026-09-10T00:41:01.868Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}