# ASC 940-20-45: Financial Services—Brokers and Dealers — Broker-Dealer Activities — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

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## ASC 940-20-45: 45 Other Presentation Matters

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#### Statement of Financial Condition Classification

##### [940-20-45-1](https://asc.understandingaccounting.org/asc/940/20/#940-20-45-1)

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Current and noncurrent classifications (see Subtopic 210-10) are ordinarily not presented in the statement of financial condition because such a distinction normally has little meaning for brokers and dealers.

##### [940-20-45-2](https://asc.understandingaccounting.org/asc/940/20/#940-20-45-2)

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The broker-dealer's share (assuming such share is not merely contingent) in underwriting or joint accounts with other broker-dealers for issued securities shall be included with its trading accounts.

##### [940-20-45-3](https://asc.understandingaccounting.org/asc/940/20/#940-20-45-3)

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Payables and receivables arising from unsettled regular-way transactions may be recorded net in an account titled net receivable (or payable) for unsettled [regular-way trades](https://asc.understandingaccounting.org/glossary/r/#regular-way-trades "Regular-way trades include both of the following: All transactions in exchange-traded financial instruments that are expected to settle within the standard settlement cycle of that exchange (for example, three days for U.S. exchanges) All transactions in cash-market-traded financial instruments that are expected to settle within the time frame prevalent or traditional for each specific instrument (for example, for U.S. government securities, one or two days).").