{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/946/20/#35-subsequent-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":"946","topic_title":"Financial Services—Investment Companies","subtopic":"946-20","subtopic_title":"Investment Company Activities","section":{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Payments by Affiliates","paragraphs":[{"citation":"946-20-35-1","para":"35-1","html":"
Any subsequent change in the value of a credit enhancement to maintain the investment's value shall be accounted for as unrealized appreciation or depreciation.
","snippet":"Any subsequent change in the value of a credit enhancement to maintain the investment's value shall be accounted for as unrealized appreciation or depreciation.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:022540897ec038c7885bbd403651338cbb1cc36bdc69590e65c92ba5432916ed","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:49d66731871897c419513a2ab764c439b1e363ca0c999bfdbc2794c8e3c11c05","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}},{"block":null,"heading":"Certain Distribution Costs","paragraphs":[{"citation":"946-20-35-2","para":"35-2","html":"
The guidance in the following paragraph and paragraph 946-20-35-4 applies to annual and interim financial statements of investment companies that adopt plans that comply with Rule 12b-1.
","snippet":"The guidance in the following paragraph and paragraph 946-20-35-4 applies to annual and interim financial statements of investment companies that adopt plans that comply with Rule 12b-1.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:163acb9778cdd105b6acdc1d4ac5f35c5941f9d83cfb934cbd7d492dcc7b09bd","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}},{"citation":"946-20-35-3","para":"35-3","html":"
The liability recognized under paragraph 946-20-25-3 shall be subsequently measured using the guidance in paragraphs
946-20-30-4 through 30-5
. Changes in the liability shall be recognized in the statement of operations as an expense or reduction in expense.
","snippet":"The liability recognized under paragraph 946-20-25-3 shall be subsequently measured using the guidance in paragraphs 946-20-30-4 through 30-5. Changes in the liability shall be recognized in the statement of operations a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b4609feb39ab6514c8e4ddee3fb48101b6f74cd03118d7501cf6a68b05ca329a","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}},{"citation":"946-20-35-4","para":"35-4","html":"
Any future cumulative contingent-deferred sales load payments shall be based on all of the following:
  1. a
    Current net asset value per share
  2. b
    The number of shares currently outstanding and the number of years that they have been outstanding
  3. c
    Estimated shareholder persistency based on historical fund data or, if historical fund data are not available, group or industry data for a similar class of shares.
","snippet":"Any future cumulative contingent-deferred sales load payments shall be based on all of the following:\n(a) Current net asset value per share\n(b) The number of shares currently outstanding and the number of years that they…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b6d9887e82c0c183c0a6283287dbe243f8dc1b9339284c42a4530c17986f652c","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:43c7f79625346d3dde5d28279f48f88da5b871bc00b7b63d2462b0158773e4a3","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}},{"block":null,"heading":"Offering Costs","paragraphs":[{"citation":"946-20-35-5","para":"35-5","html":"
Offering costs recognized as a deferred charge under paragraph 946-20-25-6 shall be amortized to expense over 12 months on a straight-line basis when operations begin.
","snippet":"Offering costs recognized as a deferred charge under paragraph 946-20-25-6 shall be amortized to expense over 12 months on a straight-line basis when operations begin.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:904ea2500fe82090411a3fe99054ce026097aa4d8f1f554103e6c0d0c54b7675","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}},{"citation":"946-20-35-6","para":"35-6","html":"
Offering costs of unit investment trusts shall be charged to paid-in capital on a pro rata basis as the units or shares are issued or sold by the trust (when the units are purchased by the underwriters). Units sold to underwriters on a firm basis are considered sold by the trust, and the offering costs associated with those units shall be charged to paid-in capital when the units are purchased by the underwriters. Offering costs that remain unamortized at the end of the year shall be reviewed for impairment. (For guidance concerning organization and offering costs, see Subtopic 720-15.)
","snippet":"Offering costs of unit investment trusts shall be charged to paid-in capital on a pro rata basis as the units or shares are issued or sold by the trust (when the units are purchased by the underwriters). Units sold to un…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b150f175cde32ff10e93ff1a9e2fc8bf830f77c4945bfff4c216c045501e44e2","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:26402b193bc70307e3b3a3f3ab4ff61234d7835784c121c7c60c61fff4d2d022","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:16f2d63b70483f34f11389c3b31be102076a684845279210f32506b0c942a644","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:16f2d63b70483f34f11389c3b31be102076a684845279210f32506b0c942a644","downloaded_from":"2026-09-10T02:19:47.616Z","last_downloaded_at":"2026-09-10T02:19:47.616Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481081","source_sha256":"beb74bc6a14c380d9c8c713bfd4800ebf0ddb57e43cb2831d33de742ad25f04d"}}