{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/30/#45-other-presentation-matters","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":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-30-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_698DD58A-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">At a minimum, an entity that applies the liquidation basis of accounting shall prepare the following: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_698DD686-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">A <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> </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_698DD792-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">A <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>. </span></span></div></li></ol></div></div>","snippet":"At a minimum, an entity that applies the liquidation basis of accounting shall prepare the following:\n(a) A statement of net assets in liquidation\n(b) A statement of changes in net assets in liquidation.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ff1ef712c21abb9a5b977fc0ed653286aae71a317033f28a597677c2c2312e91","downloaded_from":"2026-09-09T22:53:54.855Z","last_downloaded_at":"2026-09-09T22:53:54.855Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479938","source_sha256":"69e777162bf13aac909bacef876886feb57e4dadf74a1634e71519c97ce64a8e"}},{"citation":"205-30-45-2","para":"45-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_698DD8B5-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The liquidation basis of accounting shall be applied prospectively from the day that liquidation becomes imminent. The initial statement of changes in net assets in liquidation shall present only changes in net assets that occurred during the period since liquidation became imminent. </span></span></div></div>","snippet":"The liquidation basis of accounting shall be applied prospectively from the day that liquidation becomes imminent. The initial statement of changes in net assets in liquidation shall present only changes in net assets th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c92d5e960a5ff5b867f50d09378d76e5e6355291d2340fdeb7148dbb783551a8","downloaded_from":"2026-09-09T22:53:54.855Z","last_downloaded_at":"2026-09-09T22:53:54.855Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479938","source_sha256":"69e777162bf13aac909bacef876886feb57e4dadf74a1634e71519c97ce64a8e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a72a2cc69b15e886a35fe097c65821c6c4dd066f5275b7ce1d8d46aef9e43d60","downloaded_from":"2026-09-09T22:53:54.855Z","last_downloaded_at":"2026-09-09T22:53:54.855Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479938","source_sha256":"69e777162bf13aac909bacef876886feb57e4dadf74a1634e71519c97ce64a8e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b402f9a242c8d39dbe280a12465bc1122106bd07d3824d5cf2a0fa8b09e0ad24","downloaded_from":"2026-09-09T22:53:54.855Z","last_downloaded_at":"2026-09-09T22:53:54.855Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479938","source_sha256":"69e777162bf13aac909bacef876886feb57e4dadf74a1634e71519c97ce64a8e"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b402f9a242c8d39dbe280a12465bc1122106bd07d3824d5cf2a0fa8b09e0ad24","downloaded_from":"2026-09-09T22:53:54.855Z","last_downloaded_at":"2026-09-09T22:53:54.855Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479938","source_sha256":"69e777162bf13aac909bacef876886feb57e4dadf74a1634e71519c97ce64a8e"}}