{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/946/20/#40-derecognition","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":"40","label":"40 Derecognition","anchor":"40-derecognition","is_sec":false,"groups":[{"block":null,"heading":"Offering Costs","paragraphs":[{"citation":"946-20-40-1","para":"40-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_0E0A88D7-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"><a href=\"/glossary/o/#offering-costs\" class=\"term\" title=\"Offering costs include all of the following: Legal fees pertaining to the investment company's shares offered for sale Securities and Exchange Commission (SEC)and state registration fees Underwriting and other similar costs Costs of printing prospectuses for sales purposes Initial fees paid to be listed on an exchange Tax opinion costs related to offering of shares Initial agency fees of securing the rating for bonds or preferred stock issued by closed-end funds.\"><span>Offering costs</span></a> of unit investment trusts </span></span><span class=\"sfragment\" id=\"sfr_0E0A8A00-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">that have not yet been charged to paid-in capital shall be written off when it is no longer probable that the shares to which the offering costs relate will be issued in the future. It is presumed that those costs will not have a future benefit one year from the initial offering. </span></span></div></div>","snippet":"Offering costs of unit investment trusts that have not yet been charged to paid-in capital shall be written off when it is no longer probable that the shares to which the offering costs relate will be issued in the futur…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0b297fa17945512244211bb71c88ff57eb04d40a824e96b7ed0f1c3e741972ff","downloaded_from":"2026-09-10T02:19:49.444Z","last_downloaded_at":"2026-09-10T02:19:49.444Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481050","source_sha256":"bf1e17f46f8924ed9e6afb6fdbeefe4476a1fe1608e2a826f8cf28c4ccd79abf"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:04f93d6171e45fc5b745eacf7acc20e71252952aec5365d33d16d91f0197d963","downloaded_from":"2026-09-10T02:19:49.444Z","last_downloaded_at":"2026-09-10T02:19:49.444Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481050","source_sha256":"bf1e17f46f8924ed9e6afb6fdbeefe4476a1fe1608e2a826f8cf28c4ccd79abf"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3ec1619d8cf61ec914d6283aa55c6d3a66463ac30bb1c085833a1c8cb85de9e4","downloaded_from":"2026-09-10T02:19:49.444Z","last_downloaded_at":"2026-09-10T02:19:49.444Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481050","source_sha256":"bf1e17f46f8924ed9e6afb6fdbeefe4476a1fe1608e2a826f8cf28c4ccd79abf"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3ec1619d8cf61ec914d6283aa55c6d3a66463ac30bb1c085833a1c8cb85de9e4","downloaded_from":"2026-09-10T02:19:49.444Z","last_downloaded_at":"2026-09-10T02:19:49.444Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481050","source_sha256":"bf1e17f46f8924ed9e6afb6fdbeefe4476a1fe1608e2a826f8cf28c4ccd79abf"}}