# ASC 205-10-50: Presentation of Financial Statements — Overall — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/205/10/#50-disclosure)

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## ASC 205-10-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/205/10/#50-disclosure)

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#### Changes Affecting Comparability

##### [205-10-50-1](https://asc.understandingaccounting.org/asc/205/10/#205-10-50-1)

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If, because of reclassifications or for other reasons, changes have occurred in the manner of or basis for presenting corresponding items for two or more periods, information shall be furnished that will explain the change. This procedure is in conformity with the well-recognized principle that any change in practice that affects comparability of financial statements shall be disclosed.

Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:

[270-10-65-1](https://asc.understandingaccounting.org/asc/270/10/#270-10-65-1)If, because of reclassifications or for other reasons, changes have occurred in the manner of or basis for presenting corresponding items for two or more periods, information shall be furnished for interim and annual reporting periods that will explain the change. This procedure is in conformity with the well-recognized principle that any change in practice that affects comparability of financial statements shall be disclosed.

##### [205-10-50-2](https://asc.understandingaccounting.org/asc/205/10/#205-10-50-2)

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Notes to financial statements, explanations, and accountants' reports containing qualifications that appeared on the statements for the preceding years shall be repeated, or at least referred to, in the statements to the extent that they continue to be of significance. (See paragraph [Check output number.205-10-45-4](https://asc.understandingaccounting.org/asc/205/10/#205-10-45-4).)