{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/940/20/#30-initial-measurement","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":"940","topic_title":"Financial Services—Brokers and Dealers","subtopic":"940-20","subtopic_title":"Broker-Dealer Activities","section":{"number":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":"Clearing","heading":"Fail-to-Deliver","paragraphs":[{"citation":"940-20-30-1","para":"30-1","html":"A fail-to-deliver asset shall be measured initially at the selling price, including any accrued interest. A fail-to-receive liability shall be measured initially at the amount of money representing the purchase price of the securities, including any accrued interest. That is, liabilities related to broker-dealer operations, such as fails-to-receive and securities sold under agreements to repurchase (known as repurchase agreements or repos), shall be recorded at contract amounts or the fair value of collateral to be returned.