ASC

Concept

performance fees

Referenced in 1 subtopic across 1 area.

Revenue1

  1. 605-946Financial Services—Investment Companies605 Revenue Recognition

    ASC 605-946 was the legacy revenue recognition guidance for investment company activities (notably investment advisers' incentive/performance-based fee arrangements) under the superseded Topic 605 model. Every paragraph in Sections 05, 15, 25, and 50 was superseded by ASU 2014-09 (Revenue from Contracts with Customers). The subtopic now contains no operative guidance; revenue from such contracts is accounted for under ASC 606 (with related costs under ASC 340-40).