# ASC 940-20-30: Financial Services—Brokers and Dealers — Broker-Dealer Activities — 30 Initial Measurement

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/940/20/#30-initial-measurement)

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## ASC 940-20-30: 30 Initial Measurement

[Read section](https://asc.understandingaccounting.org/asc/940/20/#30-initial-measurement)

SEC content: no

### Clearing

#### Fail-to-Deliver

##### [940-20-30-1](https://asc.understandingaccounting.org/asc/940/20/#940-20-30-1)

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A [fail-to-deliver](https://asc.understandingaccounting.org/glossary/f/#fail-to-deliver "A fail-to-deliver is a securities sale to another broker-dealer that has not been delivered to the buying broker-dealer by the close of business on the settlement date.") asset shall be measured initially at the selling price, including any accrued interest.

#### Fail-to-Receive

##### [940-20-30-2](https://asc.understandingaccounting.org/asc/940/20/#940-20-30-2)

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A [fail-to-receive](https://asc.understandingaccounting.org/glossary/f/#fail-to-receive "A fail-to-receive is a securities purchase from another broker-dealer not received from the selling broker-dealer by the close of business on the settlement date.") 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](https://asc.understandingaccounting.org/glossary/f/#fair-value "The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.") of collateral to be returned.