{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/940/10/","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":"940-10","topic":"940","title":"Overall","area":"Industry","paragraphs":5,"summary":"ASC 940-10 is the Overall subtopic of the Financial Services—Brokers and Dealers Topic, which lists the Topic's constituent subtopics (Broker-Dealer Activities, Receivables, Investments, Other Assets and Deferred Costs, Liabilities, Consolidation, and Fair Value Measurements) and sets its scope. 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b\">Action</strong></td><td class=\"entry\"><strong class=\"ph b\">Accounting Standards Update</strong></td><td class=\"entry\"><strong class=\"ph b\">Date</strong></td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><a href=\"/asc/940/10/#940-10-05-1\" class=\"xref\">940-10-05-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n940-10-05-1 | Amended | Accounting Standards Update No. 2014-09 | 05/28/2014 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Services—Brokers and Dealers Topic includes the following Subtopics relating specifically to brokers and dealers in securities (broker-dealers):<ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\">Overall</div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\">Broker-Dealer Activities</div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\">Receivables</div></li><li class=\"li-norm\"><span class=\"linum\">d</span><div class=\"p\">Investments—Debt and Equity Securities</div></li><li class=\"li-norm\"><span class=\"linum\">e</span><div class=\"p\">Investments—All Other</div></li><li class=\"li-norm\"><span class=\"linum\">f</span><div class=\"p\">Other Assets and Deferred Costs</div></li><li class=\"li-norm\"><span class=\"linum\">g</span><div class=\"p\">Liabilities</div></li><li class=\"li-norm\"><span class=\"linum\">h</span><div class=\"p\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Subparagraph superseded by Accounting Standards Update No. 2014-09</a>.</div></li><li class=\"li-norm\"><span class=\"linum\">i</span><div class=\"p\">Consolidation</div></li><li class=\"li-norm\"><span class=\"linum\">j</span><div class=\"p\">Fair Value Measurements.</div></li></ol></div></div>","snippet":"The Financial Services—Brokers and Dealers Topic includes the following Subtopics relating specifically to brokers and dealers in securities (broker-dealers):\n(a) Overall\n(b) Broker-Dealer Activities\n(c) Receivables\n(d) …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:427a71afaeecfdda58d7c97546384101a864bf0b2551afd2e46b45de1543b8a3","downloaded_from":"2026-09-10T02:13:20.368Z","last_downloaded_at":"2026-09-10T02:13:20.368Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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Entities within the scope of this Topic shall also comply with the applicable guidance not included in this Topic.</div></div>","snippet":"The Subtopics within the Financial Services—Brokers and Dealers Topic only provide incremental industry-specific guidance for the entities defined in this Scope Section, or as further defined in the Scope Sections of the…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:49a243a6c5c795bdb03160771bc8ff1411db05114bbdb46cc17390dea5ef5f7f","downloaded_from":"2026-09-10T02:13:22.546Z","last_downloaded_at":"2026-09-10T02:13:22.546Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481616","source_sha256":"52fafb8b894156f4d23dd610c37d33c02f29d138d76773aa3b75d5f4f8d4eccb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e700dc06870251b6bd5c55f3ed83331f94c96f85e1c223169a7632f98fd09c86","downloaded_from":"2026-09-10T02:13:22.546Z","last_downloaded_at":"2026-09-10T02:13:22.546Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481616","source_sha256":"52fafb8b894156f4d23dd610c37d33c02f29d138d76773aa3b75d5f4f8d4eccb"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"940-10-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Financial Services—Brokers and Dealers Topic provides guidance for all entities that are brokers and dealers in securities (broker-dealers).</div></div>","snippet":"The Financial Services—Brokers and Dealers Topic provides guidance for all entities that are brokers and dealers in securities (broker-dealers).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8d3065aaee5aeaf69809c948f6d7b57a1605c7d77b3106524deedfb98d4a2bbe","downloaded_from":"2026-09-10T02:13:22.546Z","last_downloaded_at":"2026-09-10T02:13:22.546Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481616","source_sha256":"52fafb8b894156f4d23dd610c37d33c02f29d138d76773aa3b75d5f4f8d4eccb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7e79f84df7de43bac2da039e105a6588e8c70ede710c84c7fabbe9229dc49c49","downloaded_from":"2026-09-10T02:13:22.546Z","last_downloaded_at":"2026-09-10T02:13:22.546Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481616","source_sha256":"52fafb8b894156f4d23dd610c37d33c02f29d138d76773aa3b75d5f4f8d4eccb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03faa317ef03e05eb25c10fd67855e6ac01906c0f029713d2938a431a73cf25a","downloaded_from":"2026-09-10T02:13:22.546Z","last_downloaded_at":"2026-09-10T02:13:22.546Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481616","source_sha256":"52fafb8b894156f4d23dd610c37d33c02f29d138d76773aa3b75d5f4f8d4eccb"}}],"enrichment":{"summary":"ASC 940-10 is the Overall subtopic of the Financial Services—Brokers and Dealers Topic, which lists the Topic's constituent subtopics (Broker-Dealer Activities, Receivables, Investments, Other Assets and Deferred Costs, Liabilities, Consolidation, and Fair Value Measurements) and sets its scope. The Topic applies to all entities that are brokers and dealers in securities and supplies only incremental industry-specific guidance; broker-dealers must still follow all other applicable GAAP outside the Topic.","key_points":["The Topic contains Subtopics relating specifically to broker-dealers, including Overall, Broker-Dealer Activities, Receivables, Investments—Debt and Equity Securities, Investments—All Other, Other Assets and Deferred Costs, Liabilities, Consolidation, and Fair Value Measurements (940-10-05-1).","One listed subparagraph of the subtopic list was superseded by ASU 2014-09 (revenue recognition) (940-10-05-1(h)).","Each Subtopic provides its own background on the guidance it contains (940-10-05-2).","The Subtopics provide only incremental industry-specific guidance for entities defined in the Scope Sections; those entities must also comply with applicable guidance not included in the Topic (940-10-15-1).","The Topic's scope covers all entities that are brokers and dealers in securities (broker-dealers) (940-10-15-2)."],"categories":["Industry-specific","Financial instruments","Fair value"],"audience_level":"introductory","student_note":"This is a navigational/scope subtopic: the key takeaway is that broker-dealer guidance is layered on top of, not instead of, general GAAP. 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