{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/30/#00-status","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":"205","topic_title":"Presentation of Financial Statements","subtopic":"205-30","subtopic_title":"Liquidation Basis of Accounting","section":{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-30-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div> <div class=\"norm-text\"> <table class=\"asc-table\" id=\"SL35686701-199420\"> <tr> <td class=\"entry\"> <strong class=\"ph b\">Paragraph</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Action</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Accounting Standards Update</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Date</strong> </td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/f/#fair-value\" class=\"term\" title=\"The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.\"><span>Fair Value</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/l/#liquidation\" class=\"term\" title=\"The process by which an entity converts its assets to cash or other assets and settles its obligations with creditors in anticipation of the entity ceasing all activities. Upon cessation of the entity's activities, any remaining cash or other assets are distributed to the entity's investors or other claimants (albeit sometimes indirectly). Liquidation may be compulsory or voluntary. Dissolution of an entity as a result of that entity being acquired by another entity or merged into another entity in its entirety and with the expectation of continuing its business does not qualify as liquidation.\"><span>Liquidation</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/r/#remote\" class=\"term\" title=\"The chance of the future event or events occurring is slight.\"><span>Remote</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/asc-pdf/GUID-3E437879-1E44-404B-9158-F773EC3BA12E.pdf\" class=\"pdf-link\" target=\"_blank\" rel=\"noopener\">Maintenance Update 2016-17 (PDF)</a> </td> <td class=\"entry\">09/02/2016</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/s/#statement-of-changes-in-net-assets-in-liquidation\" class=\"term\" title=\"A statement that presents the changes during the period in net assets available for distribution to investors and other claimants during liquidation.\"><span>Statement of Changes in Net Assets in Liquidation</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/s/#statement-of-net-assets-in-liquidation\" class=\"term\" title=\"A statement that presents a liquidating entity's net assets available for distribution to investors and other claimants as of the end of the reporting period.\"><span>Statement of Net Assets in Liquidation</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/205/30/#205-30-05-1\" class=\"xref\">205-30-05-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/205/30/#205-30-15-1\" class=\"xref\">205-30-15-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/205/30/#205-30-25-1\" class=\"xref\">205-30-25-1 through 25-7</a></div> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/205/30/#205-30-25-2\" class=\"xref\">205-30-25-2</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/asc-pdf/GUID-3E437879-1E44-404B-9158-F773EC3BA12E.pdf\" class=\"pdf-link\" target=\"_blank\" rel=\"noopener\">Maintenance Update 2016-17 (PDF)</a> </td> <td class=\"entry\">09/02/2016</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/205/30/#205-30-30-1\" class=\"xref\">205-30-30-1 through 30-3</a></div> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/205/30/#205-30-35-1\" class=\"xref\">205-30-35-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/205/30/#205-30-45-1\" class=\"xref\">205-30-45-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/205/30/#205-30-45-2\" class=\"xref\">205-30-45-2</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/205/30/#205-30-50-1\" class=\"xref\">205-30-50-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/205/30/#205-30-50-2\" class=\"xref\">205-30-50-2</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/205/30/#205-30-55-1\" class=\"xref\">205-30-55-1 through 55-3</a></div> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/205/30/#205-30-65-1\" class=\"xref\">205-30-65-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a> </td> <td class=\"entry\">04/22/2013</td> </tr> </table> </div> </div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nFair Value | Added | Accounting Standards Update No. 2013-07 | 04/22/2013 |\nLiquidation …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:27b8179a159ce03f7f956a736d825a469eda2f73b8e83de63d6dc01e76e15c90","downloaded_from":"2026-09-09T22:53:35.692Z","last_downloaded_at":"2026-09-09T22:53:35.692Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480151","source_sha256":"59406161e6f08b1be2bb83e881471412087a1afd1da71ac2049419648db329b1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d6f7b80e1e191724a46ec8fee98c9c01d70a2b8ce46a057d992e1fbd66331f54","downloaded_from":"2026-09-09T22:53:35.692Z","last_downloaded_at":"2026-09-09T22:53:35.692Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480151","source_sha256":"59406161e6f08b1be2bb83e881471412087a1afd1da71ac2049419648db329b1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:726d6bbc62f24724de7f05ec91d4610aad4261b3e7d83047488cb7eca8ebad09","downloaded_from":"2026-09-09T22:53:35.692Z","last_downloaded_at":"2026-09-09T22:53:35.692Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480151","source_sha256":"59406161e6f08b1be2bb83e881471412087a1afd1da71ac2049419648db329b1"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:726d6bbc62f24724de7f05ec91d4610aad4261b3e7d83047488cb7eca8ebad09","downloaded_from":"2026-09-09T22:53:35.692Z","last_downloaded_at":"2026-09-09T22:53:35.692Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480151","source_sha256":"59406161e6f08b1be2bb83e881471412087a1afd1da71ac2049419648db329b1"}}