{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/30/#05-overview-and-background","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":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-30-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_69380085-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The Liquidation Basis of Accounting Subtopic provides guidance on when and how an entity should prepare its financial statements using the liquidation basis of accounting and describes the related disclosures that should be made. </span></span></div></div>","snippet":"The Liquidation Basis of Accounting Subtopic provides guidance on when and how an entity should prepare its financial statements using the liquidation basis of accounting and describes the related disclosures that should…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4121f9ec89b12d1c880d40fabcead32cdca177281f9e673e50fe741d9c81a709","downloaded_from":"2026-09-09T22:53:38.416Z","last_downloaded_at":"2026-09-09T22:53:38.416Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480122","source_sha256":"dc925c1ca2271b73d882cbe500b0c96cea8090863c79fdf2a00817ab30be9b11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:97d089456dcda5af00ea71b096afbf1e2ef5c5f2c0abb974cac46e0d2c880f5b","downloaded_from":"2026-09-09T22:53:38.416Z","last_downloaded_at":"2026-09-09T22:53:38.416Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480122","source_sha256":"dc925c1ca2271b73d882cbe500b0c96cea8090863c79fdf2a00817ab30be9b11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:41b245091fb376539d202948a5ba5488b01f509159779b6f750864e2b1d43168","downloaded_from":"2026-09-09T22:53:38.416Z","last_downloaded_at":"2026-09-09T22:53:38.416Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480122","source_sha256":"dc925c1ca2271b73d882cbe500b0c96cea8090863c79fdf2a00817ab30be9b11"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:41b245091fb376539d202948a5ba5488b01f509159779b6f750864e2b1d43168","downloaded_from":"2026-09-09T22:53:38.416Z","last_downloaded_at":"2026-09-09T22:53:38.416Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480122","source_sha256":"dc925c1ca2271b73d882cbe500b0c96cea8090863c79fdf2a00817ab30be9b11"}}