{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/","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.","number":"205","title":"Presentation of Financial Statements","area":"Presentation","group":null,"subtopics":[{"number":"205-10","topic":"205","title":"Overall","area":"Presentation","paragraphs":38,"summary":"ASC 205-10 sets the pervasive scope for the Presentation of Financial Statements Topic (applying to both business entities and NFPs) and governs comparative financial statements. It explains that presenting statements for a series of periods is more meaningful than a single period, lists the elements of a full set of financial statements, and requires that prior-period figures actually be comparable, with any change in presentation basis or reclassification explained.","concepts":["comparative financial statements","full set of financial statements","comparability","reclassification disclosure","statement of financial position","comprehensive income","pervasive scope","not-for-profit entities"],"categories":["Presentation","Financial statement presentation","Disclosure"],"level":"introductory","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-10-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
BusinessAmendedAccounting Standards Update No. 2017-0101/05/2017
BusinessAddedAccounting Standards Update No. 2014-0804/10/2014
Comprehensive IncomeAddedAccounting Standards Update No. 2011-0506/16/2011
Corporate Joint VentureAddedAccounting Standards Update No. 2023-0508/23/2023
Joint VentureAddedAccounting Standards Update No. 2023-0508/23/2023
Nonprofit ActivityAddedAccounting Standards Update No. 2014-0804/10/2014
205-10-05-1AmendedMaintenance Update 2025-05 (PDF)06/20/2025
205-10-05-1AmendedAccounting Standards Update No. 2013-0704/22/2013
205-10-05-3AmendedAccounting Standards Update No. 2023-0508/23/2023
205-10-05-3AmendedAccounting Standards Update No. 2014-0804/10/2014
205-10-05-3AAddedAccounting Standards Update No. 2014-0804/10/2014
205-10-05-4AddedAccounting Standards Update No. 2013-0704/22/2013
205-10-45-1AAmendedAccounting Standards Update No. 2025-1112/08/2025
205-10-45-1AAddedAccounting Standards Update No. 2011-0506/16/2011
205-10-45-2AmendedAccounting Standards Update No. 2025-1212/17/2025
205-10-45-4AmendedAccounting Standards Update No. 2020-1010/29/2020
205-10-50-1AmendedAccounting Standards Update No. 2025-1112/08/2025
205-10-50-2AddedAccounting Standards Update No. 2020-1010/29/2020
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The Presentation of Financial Statements Topic includes the following Subtopics:
  1. a
    Overall
  2. b
    Discontinued Operations
  3. c
    Liquidation Basis of Accounting
  4. d
    Going Concern.
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The Overall Subtopic describes the benefits of presenting comparative financial statements instead of single-period financial statements, and addresses how the comparative information shall be presented and the required disclosures.
","snippet":"The Overall Subtopic describes the benefits of presenting comparative financial statements instead of single-period financial statements, and addresses how the comparative information shall be presented and the required …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bc7aaca0a2293f7a5dbf792efeaae949864b99d11fb021a5a853a0f42f356258","downloaded_from":"2026-09-09T22:51:50.899Z","last_downloaded_at":"2026-09-09T22:51:50.899Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483505","source_sha256":"94dc320f5054bac889cb7987d58384c70f64387ef3239664df25f0167b10a55c"}},{"citation":"205-10-05-3","para":"05-3","html":"
The Discontinued Operations Subtopic discusses the conditions under which either of the following would be reported in an entity's financial statements as a discontinued operation:
  1. a
    A component of an entity that either has been disposed of or is classified as held for sale
  2. b
    A business or nonprofit activity that, on acquisition or upon formation of a joint venture, is classified as held for sale.
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If a component of an entity that either has been disposed of or is classified as held for sale does not meet the conditions to be reported in discontinued operations, Section 360-10-45 on other presentation matters of property, plant, and equipment provides guidance on presenting disposal gains and losses and impairment losses on assets classified as held for sale.
","snippet":"If a component of an entity that either has been disposed of or is classified as held for sale does not meet the conditions to be reported in discontinued operations, Section 360-10-45 on other presentation matters of pr…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b4278c26cd082595c5c28a8f4f3afd042f008edb4bd9128ee74089c71453b6f0","downloaded_from":"2026-09-09T22:51:50.899Z","last_downloaded_at":"2026-09-09T22:51:50.899Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483505","source_sha256":"94dc320f5054bac889cb7987d58384c70f64387ef3239664df25f0167b10a55c"}},{"citation":"205-10-05-4","para":"05-4","html":"
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.
","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":"sha256:33cf4175a3b804c60e38f7d7daab87f4c4f84e1344c47c4ab3af989e4276978e","downloaded_from":"2026-09-09T22:51:50.899Z","last_downloaded_at":"2026-09-09T22:51:50.899Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483505","source_sha256":"94dc320f5054bac889cb7987d58384c70f64387ef3239664df25f0167b10a55c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b97e85fef1f0f943d9d2464647557df682c583193854b1775a7dace9bdcadf45","downloaded_from":"2026-09-09T22:51:50.899Z","last_downloaded_at":"2026-09-09T22:51:50.899Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483505","source_sha256":"94dc320f5054bac889cb7987d58384c70f64387ef3239664df25f0167b10a55c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b62ed5e2b74548fff19dad400f584b29147f4ffd236dda224dc7031c0d4447af","downloaded_from":"2026-09-09T22:51:50.899Z","last_downloaded_at":"2026-09-09T22:51:50.899Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483505","source_sha256":"94dc320f5054bac889cb7987d58384c70f64387ef3239664df25f0167b10a55c"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"205-10-15-1","para":"15-1","html":"
The Scope Section of the Overall Subtopic establishes the pervasive scope for all Subtopics of the Presentation of Financial Statements Topic. Unless explicitly addressed within specific Subtopics, the following scope guidance applies to all Subtopics of the Presentation of Financial Statements Topic.
","snippet":"The Scope Section of the Overall Subtopic establishes the pervasive scope for all Subtopics of the Presentation of Financial Statements Topic. Unless explicitly addressed within specific Subtopics, the following scope gu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:37f4b2230a245b42e49a6cd5d347b24adebc31330cfb1a5c21dc5ed3c287824a","downloaded_from":"2026-09-09T22:51:54.072Z","last_downloaded_at":"2026-09-09T22:51:54.072Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483484","source_sha256":"96f6430ffffbd911abed656c4aa27eb4aed842f5fd908fd933f5bb4f48775c24"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2aa72a62b06b7e343781908723bac831eed5873ebcffea35dbbdfccfbed21622","downloaded_from":"2026-09-09T22:51:54.072Z","last_downloaded_at":"2026-09-09T22:51:54.072Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483484","source_sha256":"96f6430ffffbd911abed656c4aa27eb4aed842f5fd908fd933f5bb4f48775c24"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"205-10-15-2","para":"15-2","html":"
The guidance in the Presentation of Financial Statements Topic applies to business entities and not-for-profit entities (NFPs).
","snippet":"The guidance in the Presentation of Financial Statements Topic applies to business entities and not-for-profit entities (NFPs).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ccb21da896865b1fa8277cbd964384e5596ce766342f3c066dc394428619301f","downloaded_from":"2026-09-09T22:51:54.072Z","last_downloaded_at":"2026-09-09T22:51:54.072Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483484","source_sha256":"96f6430ffffbd911abed656c4aa27eb4aed842f5fd908fd933f5bb4f48775c24"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e6289bbdc39c5867bd1fea7e4e491c38c0c7b9fd3da2976ae71b01ba8afdac68","downloaded_from":"2026-09-09T22:51:54.072Z","last_downloaded_at":"2026-09-09T22:51:54.072Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483484","source_sha256":"96f6430ffffbd911abed656c4aa27eb4aed842f5fd908fd933f5bb4f48775c24"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:08854faa1e00e933603302ea88f88abba45b6fda20031884aa8a7c30aebaeb22","downloaded_from":"2026-09-09T22:51:54.072Z","last_downloaded_at":"2026-09-09T22:51:54.072Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483484","source_sha256":"96f6430ffffbd911abed656c4aa27eb4aed842f5fd908fd933f5bb4f48775c24"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Comparative Financial Statements","paragraphs":[{"citation":"205-10-45-1","para":"45-1","html":"
The presentation of comparative financial statements in annual and other reports enhances the usefulness of such reports and brings out more clearly the nature and trends of current changes affecting the entity. Such presentation emphasizes the fact that statements for a series of periods are far more significant than those for a single period and that the accounts for one period are but an installment of what is essentially a continuous history.
","snippet":"The presentation of comparative financial statements in annual and other reports enhances the usefulness of such reports and brings out more clearly the nature and trends of current changes affecting the entity. Such pre…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d0d9139b13d4c0c901565f3a6ce1462f3ec50e8fe38b35b2da951ee38b7f97f4","downloaded_from":"2026-09-09T22:51:59.498Z","last_downloaded_at":"2026-09-09T22:51:59.498Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483478","source_sha256":"411ba7db84c75a2db0d8fd2212a70d81f7be3e9d14e2010b8f9d89d6098912f3"}},{"citation":"205-10-45-1A","para":"45-1A","html":"
A full set of financial statements for a period shall show all of the following:
  1. a
    Financial position at the end of the period
  2. b
    Earnings (net income) for the period, (which may be presented as a separate statement or within a continuous statement of comprehensive income [see paragraph 220-10-45-1A])
  3. c
    Comprehensive income (total nonowner changes in equity) for the period in one statement or two separate but consecutive statements (if the reporting entity is required to report comprehensive income, see paragraph 220-10-15-3)
  4. d
    Cash flows during the period
  5. e
    Investments by and distributions to owners during the period.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1A full set of financial statements for a period shall show all of the following (unless not required to do so by other Topics):
  1. a
    Financial position at the end of the period
  2. b
    Earnings (net income) for the period, (which may be presented as a separate statement or within a continuous statement of comprehensive income [see paragraph 220-10-45-1A])
  3. c
    Comprehensive income (total nonowner changes in equity) for the period in one statement or two separate but consecutive statements (if the reporting entity is required to report comprehensive income, see paragraph 220-10-15-3)
  4. d
    Cash flows during the period
  5. e
    Investments by and distributions to owners during the period.
","snippet":"A full set of financial statements for a period shall show all of the following:\n(a) Financial position at the end of the period\n(b) Earnings (net income) for the period, (which may be presented as a separate statement o…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:54a7fbfe2f448e498adf287c798ea35f0960d9bbf16c07919366e81f72a45301","downloaded_from":"2026-09-09T22:51:59.498Z","last_downloaded_at":"2026-09-09T22:51:59.498Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483478","source_sha256":"411ba7db84c75a2db0d8fd2212a70d81f7be3e9d14e2010b8f9d89d6098912f3"}},{"citation":"205-10-45-2","para":"45-2","html":"
In any one year it is ordinarily desirable that the statement of financial position, the income statement, and the statement of changes in equity be presented for one or more preceding years, as well as for the current year.
Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance:
105-10-65-10In any one year it is ordinarily desirable that the financial statements be presented for one or more preceding years, as well as for the current year.
","snippet":"In any one year it is ordinarily desirable that the statement of financial position, the income statement, and the statement of changes in equity be presented for one or more preceding years, as well as for the current y…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f53becf5ce2590a8f440f767236043edd83a743de5b63552d310e95688c2764e","downloaded_from":"2026-09-09T22:51:59.498Z","last_downloaded_at":"2026-09-09T22:51:59.498Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483478","source_sha256":"411ba7db84c75a2db0d8fd2212a70d81f7be3e9d14e2010b8f9d89d6098912f3"}},{"citation":"205-10-45-3","para":"45-3","html":"
Prior-year figures shown for comparative purposes shall in fact be comparable with those shown for the most recent period. Any exceptions to comparability shall be clearly brought out as described in Topic 250.
","snippet":"Prior-year figures shown for comparative purposes shall in fact be comparable with those shown for the most recent period. Any exceptions to comparability shall be clearly brought out as described in Topic 250.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0e1e5bcb715c22f88ac50c47f31aec56f3f0f06c2f23749e5ada34f8cd495695","downloaded_from":"2026-09-09T22:51:59.498Z","last_downloaded_at":"2026-09-09T22:51:59.498Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483478","source_sha256":"411ba7db84c75a2db0d8fd2212a70d81f7be3e9d14e2010b8f9d89d6098912f3"}},{"citation":"205-10-45-4","para":"45-4","html":"
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 comparative statements to the extent that they continue to be of significance. (See paragraph 205-10-50-2.)
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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:
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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.)
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For guidance on translating foreign currency statements that are incorporated in the financial statements of a reporting entity by consolidation, combination, or the equity method of accounting, see Subtopic 830-30.
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The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
205-10-S99-1 through S99-6
 Amended Accounting Standards Update No. 2019-07 07/26/2019
205-10-S99-1 Amended Accounting Standards Update No. 2012-03 08/27/2012
205-10-S99-5 Amended Accounting Standards Update No. 2021-06 08/09/2021
205-10-S99-6 Amended Accounting Standards Update No. 2010-21 08/02/2010
205-10-S99-8 Amended Accounting Standards Update No. 2012-03 08/27/2012
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See paragraph 205-10-S99-5, Regulation S-X Rule 5-01, for entities to which this Subtopic applies.
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See paragraph 205-10-S99-1(a), Regulation S-X Rule 4-01(a), for requirements for form and order of financial statements and terminology used in financial statements.
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See paragraph 205-10-S99-1(b), Regulation S-X Rule 4-01(b), for requirements for presentation of dollar amounts required to be shown in the financial statements.
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See paragraph 205-10-S99-9, SAB Topic 11.E, for SEC Staff views on chronological ordering of data.
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See paragraph 205-10-S99-2, Regulation S-X Rule 4-02, for requirements for omission of certain items not considered material.
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See paragraph 205-10-S99-3, Regulation S-X Rule 4-03. for requirements for inapplicable captions and omission of unrequired or inapplicable financial statements.
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See paragraph 205-10-S99-4, Regulation S-X Rule 4-04, for rules pertaining to the omission of substantially identical footnotes.
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See paragraph 205-10-S99-6(a), Regulation S-X Rule 5-04(a), regarding requirements to provide supplemental schedules.
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See paragraph 205-10-S99-6(c), Regulation S-X Rule 5-04(c), for requirements for Supplemental Schedules I - IV.
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See paragraph 205-10-S99-7, SAB Topic 1.B.2, for SEC Staff views on when historical financial statements are not indicative of the ongoing entity.
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See paragraph 235-10-S99-1, Regulation S-X Rule 4-08(e)(3), for requirements for computation of restricted net assets.
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See paragraph 205-10-S99-8, SAB Topic 6.K.2, for SEC Staff views on the computation of restricted net assets of subsidiaries and application of tests for parent entity disclosures.
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The following is the text of Regulation S-X Rule 4-01, Form, Order and Terminology (17 CFR 210.4-01).
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The following is the text of Regulation S-X Rule 4-02, Items Not Material (17 CFR 210.4-02).
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The following is the text of Regulation S-X Rule 4-03, Inapplicable Captions and Omission of Unrequired or Inapplicable Financial Statements (17 CFR 210.4-03).
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The following is the text of Regulation S-X Rule 4-04, Omission of Substantially Identical Notes (17 CFR 210.4-04).
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The following is the text of Regulation S-X Rule 5-01, Application of §§ 210.5-01 to 210.5-04 (17 CFR 210.5-01).
","snippet":"The following is the text of Regulation S-X Rule 5-01, Application of §§ 210.5-01 to 210.5-04 (17 CFR 210.5-01).\nSections 210.5-01 to 210.5-04 shall be applicable to financial statements filed for all persons except\n(a) …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:192732578be125309be96dfe73708829feb1f05d0a9bf5f2157ca08eb21813b5","downloaded_from":"2026-09-09T22:52:44.916Z","last_downloaded_at":"2026-09-09T22:52:44.916Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480922","source_sha256":"f2fbc4f6a7573153362f185077187da5dd0c29206af5f3f8a58b65e1669c20f9"}},{"citation":"205-10-S99-6","para":"S99-6","html":"
The following is the text of Regulation S-X Rule 5-04, What Schedules are to Be Filed (17 CFR 210.5-04).
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The following is the text of SAB Topic 1.B.2, Pro Forma Financial Statements and Earnings per Share.
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The following is the text of SAB Topic 6.K.2, Parent Company Financial Information.
","snippet":"The following is the text of SAB Topic 6.K.2, Parent Company Financial Information.\na. Computation of restricted net assets of subsidiaries.\nFacts: The revised rules for parent company disclosures adopted in ASR 302 requ…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:39c99955a34325c541d5c629bb529fdd3c2e2b78a6438cda816e78b793163eb5","downloaded_from":"2026-09-09T22:52:44.916Z","last_downloaded_at":"2026-09-09T22:52:44.916Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480922","source_sha256":"f2fbc4f6a7573153362f185077187da5dd0c29206af5f3f8a58b65e1669c20f9"}},{"citation":"205-10-S99-9","para":"S99-9","html":"
The following is the text of SAB Topic 11.E, Chronological Ordering of Data.
","snippet":"The following is the text of SAB Topic 11.E, Chronological Ordering of Data.\nQuestion: Does the staff have any preference in what order data are presented (e. g., the most current data displayed first, etc.)?\nInterpretiv…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:df379a68c15a7bf8ee8519a01fc2a3da4b5f6efb7383436d959845c2c9783950","downloaded_from":"2026-09-09T22:52:44.916Z","last_downloaded_at":"2026-09-09T22:52:44.916Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480922","source_sha256":"f2fbc4f6a7573153362f185077187da5dd0c29206af5f3f8a58b65e1669c20f9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d51e9898e684ef37b91b2439e85a0ed389e6b8a2f5edf3fac4131d03cdb0bc46","downloaded_from":"2026-09-09T22:52:44.916Z","last_downloaded_at":"2026-09-09T22:52:44.916Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480922","source_sha256":"f2fbc4f6a7573153362f185077187da5dd0c29206af5f3f8a58b65e1669c20f9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:731bb576a813870b296834e777bbd959784078b954476d92241f69050156798f","downloaded_from":"2026-09-09T22:52:44.916Z","last_downloaded_at":"2026-09-09T22:52:44.916Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480922","source_sha256":"f2fbc4f6a7573153362f185077187da5dd0c29206af5f3f8a58b65e1669c20f9"}}],"enrichment":{"summary":"ASC 205-10 sets the pervasive scope for the Presentation of Financial Statements Topic (applying to both business entities and NFPs) and governs comparative financial statements. It explains that presenting statements for a series of periods is more meaningful than a single period, lists the elements of a full set of financial statements, and requires that prior-period figures actually be comparable, with any change in presentation basis or reclassification explained.","key_points":["Topic 205 comprises four subtopics: Overall, Discontinued Operations, Liquidation Basis of Accounting, and Going Concern (205-10-05-1), and the Overall Subtopic's scope applies pervasively to all of them (205-10-15-1).","The guidance applies to both business entities and not-for-profit entities (205-10-15-2).","A full set of financial statements shall show financial position at period-end, earnings (net income), comprehensive income (if required to report it), cash flows, and investments by and distributions to owners (205-10-45-1A).","It is ordinarily desirable that the statement of financial position, income statement, and statement of changes in equity be presented for one or more preceding years as well as the current year (205-10-45-2).","Prior-year comparative figures must in fact be comparable with the most recent period, and any exceptions to comparability must be clearly brought out as described in Topic 250 (205-10-45-3).","Changes in the manner or basis of presenting corresponding items for two or more periods (including reclassifications) must be explained, because any change in practice affecting comparability must be disclosed (205-10-50-1).","Notes, explanations, and accountants' report qualifications from preceding years must be repeated or at least referred to in the comparative statements to the extent they remain significant (205-10-45-4; 205-10-50-2)."],"categories":["Presentation","Financial statement presentation","Disclosure"],"audience_level":"introductory","student_note":"This is the foundational \"what goes in a complete set of financial statements\" guidance and the source of the comparability/reclassification disclosure requirement. A common misunderstanding is thinking GAAP mandates comparative statements — 205-10-45-2 says it is \"ordinarily desirable,\" while SEC rules (Regulation S-X) are what actually compel comparative presentation for registrants.","related_topics":["205-20","205-30","205-40","220-10","250-10","830-30"],"key_concepts":["comparative financial statements","full set of financial statements","comparability","reclassification disclosure","statement of financial position","comprehensive income","pervasive scope","not-for-profit entities"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b9e133bbe8d0a3c1219aacdfc8fcaa7cecabbc714d1577e304aa6f24af7bd080","downloaded_from":"2026-09-09T22:51:47.839Z","last_downloaded_at":"2026-09-09T22:52:44.916Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"235-10","title":"Overall","topic_title":"Notes to Financial Statements","score":0.8144,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:80d32dfa5d867363f17b8a8ea9ad6cf2d212fc8212e7bf762fffcd2d867111e2","downloaded_from":"2026-09-09T23:14:08.789Z","last_downloaded_at":"2026-09-09T23:14:35.922Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-10","title":"Overall","topic_title":"Balance Sheet","score":0.7966,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6241445521dc5f7b5cf07be7544f4da12edf7e29dadf5ab15ff56b09b076ba5e","downloaded_from":"2026-09-09T22:58:18.165Z","last_downloaded_at":"2026-09-09T22:59:02.715Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"942-10","title":"Overall","topic_title":"Financial Services—Depository and Lending","score":0.7928,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b31955800a84774746ab259b11382b5836cf0c8040fac4408ef43de2bfe4c71","downloaded_from":"2026-09-10T02:14:00.861Z","last_downloaded_at":"2026-09-10T02:14:20.985Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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Sheet","score":0.7754,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac262a600dab033ad56e082cfb1ffe1d17f9365b29ab3f8d8025c9706809aab3","downloaded_from":"2026-09-09T23:01:25.620Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"946-10","title":"Overall","topic_title":"Financial Services—Investment Companies","score":0.7743,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a1bc6dc6eebe8c401ab256b4b76832bff5345e87f3576770b2265e814588100f","downloaded_from":"2026-09-10T02:18:44.566Z","last_downloaded_at":"2026-09-10T02:19:25.136Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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Statements","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cd0f55c1182e04702e5cec9b0fb8ca66c0ea227580a625476876de3c3450786c","downloaded_from":"2026-09-09T22:52:47.473Z","last_downloaded_at":"2026-09-09T22:53:32.088Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:34d8feaa45efaa35528017d1679d1e06ac2fa9641df7b38837d044dbe0b3794b","downloaded_from":"2026-09-09T22:51:47.839Z","last_downloaded_at":"2026-09-09T22:52:44.916Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"205-20","topic":"205","title":"Discontinued Operations","area":"Presentation","paragraphs":158,"summary":"ASC 205-20 governs when a disposal must be reported as a discontinued operation and how it is presented and disclosed. A disposal of a component (or group of components) qualifies only if it represents a strategic shift that has (or will have) a major effect on the entity's operations and financial results, triggered when the component is classified as held for sale, disposed of by sale, or disposed of other than by sale (e.g., abandonment or spinoff) (205-20-45-1B). Results of discontinued operations, net of tax, are presented as a separate component of income for current and prior periods, held-for-sale assets and liabilities are presented separately (not offset) on the balance sheet, and extensive note disclosures are required.","concepts":["discontinued operations","strategic shift with major effect","component of an entity","held for sale criteria","disposal group","continuing involvement","interest allocation","equity method investment disposal"],"categories":["Presentation","Disclosure","Financial statement presentation","Derecognition"],"level":"intermediate","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-20-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
BusinessAmendedAccounting Standards Update No. 2017-0101/05/2017
BusinessAddedAccounting Standards Update No. 2014-0804/10/2014
CommoditySupersededAccounting Standards Update No. 2014-0804/10/2014
Continuation of ActivitiesSupersededAccounting Standards Update No. 2014-0804/10/2014
Continuing Cash FlowsSupersededAccounting Standards Update No. 2014-0804/10/2014
Corporate Joint VentureAddedAccounting Standards Update No. 2023-0508/23/2023
Disposal GroupAmendedAccounting Standards Update No. 2014-0804/10/2014
Firm Purchase CommitmentAddedAccounting Standards Update No. 2014-0804/10/2014
Joint VentureAddedAccounting Standards Update No. 2023-0508/23/2023
MigrationSupersededAccounting Standards Update No. 2014-0804/10/2014
Nonprofit ActivityAddedAccounting Standards Update No. 2014-0804/10/2014
Not-for-Profit EntityAddedAccounting Standards Update No. 2014-0804/10/2014
Probable (2nd def.)AddedAccounting Standards Update No. 2014-0804/10/2014
Public Business EntityAmendedMaintenance Update 2017-06 (PDF)04/07/2017
Public Business EntityAmendedMaintenance Update 2016-11 (PDF)06/27/2016
Public Business EntityAddedAccounting Standards Update No. 2014-0804/10/2014
205-20-05-1AmendedAccounting Standards Update No. 2014-0804/10/2014
205-20-05-2AddedAccounting Standards Update No. 2014-0804/10/2014
205-20-15-1AmendedAccounting Standards Update No. 2014-0804/10/2014
205-20-15-2AmendedAccounting Standards Update No. 2023-0508/23/2023
205-20-15-2AmendedAccounting Standards Update No. 2014-0804/10/2014
205-20-15-3AddedAccounting Standards Update No. 2014-0804/10/2014
205-20-45-1SupersededAccounting Standards Update No. 2014-0804/10/2014
205-20-45-1A through 45-1G
AddedAccounting Standards Update No. 2014-0804/10/2014
205-20-45-1DAmendedAccounting Standards Update No. 2023-0508/23/2023
205-20-45-1DAmendedAccounting Standards Update No. 2015-1006/12/2015
205-20-45-2SupersededAccounting Standards Update No. 2014-0804/10/2014
205-20-45-3AmendedAccounting Standards Update No. 2014-0804/10/2014
205-20-45-3AAmendedAccounting Standards Update No. 2015-0101/09/2015
205-20-45-3A through 45-3C
AddedAccounting Standards Update No. 2014-0804/10/2014
205-20-45-4AmendedAccounting Standards Update No. 2014-0804/10/2014
205-20-45-5AmendedAccounting Standards Update No. 2014-0804/10/2014
205-20-45-10AmendedAccounting Standards Update No. 2014-0804/10/2014
205-20-45-11AddedAccounting Standards Update No. 2014-0804/10/2014
205-20-50-1AmendedAccounting Standards Update No. 2025-1112/08/2025
205-20-50-1AmendedAccounting Standards Update No. 2014-0804/10/2014
205-20-50-2SupersededAccounting Standards Update No. 2014-0804/10/2014
205-20-50-3AmendedAccounting Standards Update No. 2025-1112/08/2025
205-20-50-3AmendedAccounting Standards Update No. 2014-0804/10/2014
205-20-50-3AAmendedAccounting Standards Update No. 2025-1112/08/2025
205-20-50-3AAddedAccounting Standards Update No. 2014-0804/10/2014
205-20-50-4SupersededAccounting Standards Update No. 2014-0804/10/2014
205-20-50-4AAmendedAccounting Standards Update No. 2025-1112/08/2025
205-20-50-4AAddedAccounting Standards Update No. 2014-0804/10/2014
205-20-50-4BAmendedAccounting Standards Update No. 2025-1112/08/2025
205-20-50-4BAddedAccounting Standards Update No. 2014-0804/10/2014
205-20-50-5SupersededAccounting Standards Update No. 2014-0804/10/2014
205-20-50-5A through 50-5D
AddedAccounting Standards Update No. 2014-0804/10/2014
205-20-50-5B through 50-5D
AmendedAccounting Standards Update No. 2025-1112/08/2025
205-20-50-6SupersededAccounting Standards Update No. 2014-0804/10/2014
205-20-50-7AmendedAccounting Standards Update No. 2025-1112/08/2025
205-20-50-7AddedAccounting Standards Update No. 2014-0804/10/2014
205-20-55-1 through 55-81
SupersededAccounting Standards Update No. 2014-0804/10/2014
205-20-55-27AmendedMaintenance Update 2016-11 (PDF)06/27/2016
205-20-55-80AmendedMaintenance Update 2016-11 (PDF)06/27/2016
205-20-55-82AmendedAccounting Standards Update No. 2023-0508/23/2023
205-20-55-82 through 55-103
AddedAccounting Standards Update No. 2014-0804/10/2014
205-20-65-1AddedAccounting Standards Update No. 2014-0804/10/2014
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nBusiness | Amended | Accounting Standards Update No. 2017-01 | 01/05/2017 |\nBusiness | A…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:45210614fecbdd7f2ee14d9805876f7980de18e15164415163426667b2d2b27d","downloaded_from":"2026-09-09T22:52:47.473Z","last_downloaded_at":"2026-09-09T22:52:47.473Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483477","source_sha256":"8183f7d7085be4aed74bc7213cbf0ded5f96f7171ef84d754ca9ef894f1e66c5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:855bafacc80300bc661500da93cbbb42bc516f2fb4350e67e58492cedc74135b","downloaded_from":"2026-09-09T22:52:47.473Z","last_downloaded_at":"2026-09-09T22:52:47.473Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483477","source_sha256":"8183f7d7085be4aed74bc7213cbf0ded5f96f7171ef84d754ca9ef894f1e66c5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de952b0532ebce3b897ae2d62ea064ecf00d4b780d9c317418e62edfa08eb2e5","downloaded_from":"2026-09-09T22:52:47.473Z","last_downloaded_at":"2026-09-09T22:52:47.473Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483477","source_sha256":"8183f7d7085be4aed74bc7213cbf0ded5f96f7171ef84d754ca9ef894f1e66c5"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-20-05-1","para":"05-1","html":"
This Subtopic provides guidance on the presentation and disclosure requirements for discontinued operations. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity.
","snippet":"This Subtopic provides guidance on the presentation and disclosure requirements for discontinued operations. A discontinued operation may include a component of an entity or a group of components of an entity, or a busin…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:790acb3df3f6381ba27ff862df7bb5f2b96c0449ecfd7c5a73422de91d07117f","downloaded_from":"2026-09-09T22:52:50.918Z","last_downloaded_at":"2026-09-09T22:52:50.918Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483501","source_sha256":"3b9200beaab32f9e770a93158bb736fdccc62a87253534ed879313af39c86584"}},{"citation":"205-20-05-2","para":"05-2","html":"
The required disclosures about discontinued operations vary depending on the nature of the discontinued operation. For example, if a discontinued operation includes a component or group of components of an entity that is not an equity method investment, a more comprehensive set of disclosures about the discontinued operation is required. If the discontinued operation includes an equity method investment, or a business or nonprofit activity that is classified as held for sale on acquisition, a more limited set of disclosures is required (see the flowchart in paragraph 205-20-55-82 for an illustration).
","snippet":"The required disclosures about discontinued operations vary depending on the nature of the discontinued operation. For example, if a discontinued operation includes a component or group of components of an entity that is…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:36b59a456248e2c25ba7934d24853af1ef534cac9ed0bf209377e8d8e3b79f14","downloaded_from":"2026-09-09T22:52:50.918Z","last_downloaded_at":"2026-09-09T22:52:50.918Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483501","source_sha256":"3b9200beaab32f9e770a93158bb736fdccc62a87253534ed879313af39c86584"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3f49e16c42b2911dc4700a9976cd3c85c437a04129f9db45ba5c2a623e7e17a3","downloaded_from":"2026-09-09T22:52:50.918Z","last_downloaded_at":"2026-09-09T22:52:50.918Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483501","source_sha256":"3b9200beaab32f9e770a93158bb736fdccc62a87253534ed879313af39c86584"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3dbdd4120b04271fbf0ce8f3e16d1ebe31d09167a5b0d988ab4c40ecb0849da","downloaded_from":"2026-09-09T22:52:50.918Z","last_downloaded_at":"2026-09-09T22:52:50.918Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483501","source_sha256":"3b9200beaab32f9e770a93158bb736fdccc62a87253534ed879313af39c86584"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"205-20-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic; see Section 205-10-15, with specific transaction qualifications noted below.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic; see Section 205-10-15, with specific transaction qualifications noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e87a16fb9651812cf975cd9385733293fc82bcf78bfe9dd5dd9c305a0fad01a9","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ce9572f6164bdcbbdaa848b7ea00e627a96259b37b996d2045dc1da5e3ced4c0","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"205-20-15-2","para":"15-2","html":"
The guidance in this Subtopic applies to either of the following:
  1. a
    A component of an entity or a group of components of an entity that is disposed of or is classified as held for sale
  2. b
    A business or nonprofit activity that, on acquisition or upon formation of a joint venture, is classified as held for sale.
","snippet":"The guidance in this Subtopic applies to either of the following:\n(a) A component of an entity or a group of components of an entity that is disposed of or is classified as held for sale\n(b) A business or nonprofit activ…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fdefc1b6b82a5781bff4a17fe367a7cbca46a3ef5fbcc2414e9491b34306dfe5","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:af55c4842240cbfee82feb3e6192283224c1207c4346dbab8dec87b3daeae35e","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"205-20-15-3","para":"15-3","html":"
The guidance in this Subtopic does not apply to oil and gas properties that are accounted for using the full-cost method of accounting as prescribed by the U.S. Securities and Exchange Commission (SEC) (see Regulation S-X, Rule 4-10, Financial Accounting and Reporting for Oil and Gas Producing Activities Pursuant to the Federal Securities Laws and the Energy Policy and Conservation Act of 1975).
","snippet":"The guidance in this Subtopic does not apply to oil and gas properties that are accounted for using the full-cost method of accounting as prescribed by the U.S. Securities and Exchange Commission (SEC) (see Regulation S-…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:15f94b17c7921782ed96ab22338dfdefb559de09233401b27edf053b7ea35d6b","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c1981f19aeea5271744f3bc8d206acaf876c3b81ceec21447710cecb57129813","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:599fe054a02172945a03b64083a685e2b630e033f23524ed56522a1cfe4b5e44","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-20-45-1","para":"45-1","html":"
Paragraph superseded by Accounting Standards Update No. 2014-08.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-08.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a994c3fe35cec0e14cbc4ffebf701413acff3ba87827cbde81c9b1519e3747f3","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2cedcb781655a85b941e31e1b6f0c7c18a2ad73e1d79413c7e8018a39b860121","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"block":null,"heading":"What Is a Discontinued Operation?","paragraphs":[{"citation":"205-20-45-1A","para":"45-1A","html":"
A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity.
","snippet":"A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a5333e1fcc11aa1b42b3a9293ff74f273a058067b2800f45397bd4a2dd92bcfc","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-1B","para":"45-1B","html":"
A disposal of a component of an entity or a group of components of an entity shall be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when any of the following occurs:
  1. a
    The component of an entity or group of components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale.
  2. b
    The component of an entity or group of components of an entity is disposed of by sale.
  3. c
    The component of an entity or group of components of an entity is disposed of other than by sale in accordance with paragraph 360-10-45-15 (for example, by abandonment or in a distribution to owners in a spinoff).
","snippet":"A disposal of a component of an entity or a group of components of an entity shall be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dbce2e4c6054ddbbaf250ab72484597eadb6c2b18c346b8fb1b8ea2b2289b2bb","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-1C","para":"45-1C","html":"
Examples of a strategic shift that has (or will have) a major effect on an entity's operations and financial results could include a disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity (see paragraphs
205-20-55-83 through 55-101
for Examples).
","snippet":"Examples of a strategic shift that has (or will have) a major effect on an entity's operations and financial results could include a disposal of a major geographical area, a major line of business, a major equity method …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:64a2642b8336de682b3cdb92162b1e0a8d80801ad403dda2e2c2aee22beb9966","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-1D","para":"45-1D","html":"
A business or nonprofit activity that, on acquisition or upon formation of a joint venture, meets the criteria in paragraph 205-20-45-1E to be classified as held for sale is a discontinued operation. If the one-year requirement in paragraph 205-20-45-1E(d) is met (except as permitted by paragraph 205-20-45-1G), a business or nonprofit activity shall be classified as held for sale as a discontinued operation at the acquisition date or the formation date if the other criteria in paragraph 205-20-45-1E are probable of being met within a short period following the acquisition date or the formation date (usually within three months).
","snippet":"A business or nonprofit activity that, on acquisition or upon formation of a joint venture, meets the criteria in paragraph 205-20-45-1E to be classified as held for sale is a discontinued operation. If the one-year requ…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:063f443b9243579bf29b6ed86dac1b20ab2c08287a2ffad1b65bb62a0318dd3a","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-1E","para":"45-1E","html":"
A component of an entity or a group of components of an entity, or a business or nonprofit activity (the entity to be sold), shall be classified as held for sale in the period in which all of the following criteria are met:
  1. a
    Management, having the authority to approve the action, commits to a plan to sell the entity to be sold.
  2. b
    The entity to be sold is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such entities to be sold. (See Examples 5 through 7 [paragraphs
    360-10-55-37 through 55-42
    ], which illustrate when that criterion would be met.)
  3. c
    An active program to locate a buyer or buyers and other actions required to complete the plan to sell the entity to be sold have been initiated.
  4. d
    The sale of the entity to be sold is probable, and transfer of the entity to be sold is expected to qualify for recognition as a completed sale, within one year, except as permitted by paragraph 205-20-45-1G. (See Example 8 [paragraph 360-10-55-43], which illustrates when that criterion would be met.)
  5. e
    The entity to be sold is being actively marketed for sale at a price that is reasonable in relation to its current fair value. The price at which an entity to be sold is being marketed is indicative of whether the entity currently has the intent and ability to sell the entity to be sold. A market price that is reasonable in relation to fair value indicates that the entity to be sold is available for immediate sale, whereas a market price in excess of fair value indicates that the entity to be sold is not available for immediate sale.
  6. f
    Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.
","snippet":"A component of an entity or a group of components of an entity, or a business or nonprofit activity (the entity to be sold), shall be classified as held for sale in the period in which all of the following criteria are m…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2dfb9963e3d321f3ab5d4fb80c6d6278d85e1733e1e43380b2c10d48b40895f8","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-1F","para":"45-1F","html":"
If at any time the criteria in paragraph 205-20-45-1E are no longer met (except as permitted by paragraph 205-20-45-1G), an entity to be sold that is classified as held for sale shall be reclassified as held and used and measured in accordance with paragraph 360-10-35-44.
","snippet":"If at any time the criteria in paragraph 205-20-45-1E are no longer met (except as permitted by paragraph 205-20-45-1G), an entity to be sold that is classified as held for sale shall be reclassified as held and used and…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:108298fab418e22da4199fb8c3a79ddfabfc39319eebc98cf7ab5c776bfa9b57","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-1G","para":"45-1G","html":"
Events or circumstances beyond an entity's control may extend the period required to complete the sale of an entity to be sold beyond one year. An exception to the one-year requirement in paragraph 205-20-45-1E(d) shall apply in the following situations in which those events or circumstances arise:
  1. a
    If at the date that an entity commits to a plan to sell an entity to be sold, the entity reasonably expects that others (not a buyer) will impose conditions on the transfer of the entity to be sold that will extend the period required to complete the sale and both of the following conditions are met:
    1. 1
      Actions necessary to respond to those conditions cannot be initiated until after a firm purchase commitment is obtained.
    2. 2
      A firm purchase commitment is probable within one year. (See Example 9 [paragraph 360-10-55-44], which illustrates that situation.)
  2. b
    If an entity obtains a firm purchase commitment and, as a result, a buyer or others unexpectedly impose conditions on the transfer of an entity to be sold previously classified as held for sale that will extend the period required to complete the sale and both of the following conditions are met:
    1. 1
      Actions necessary to respond to the conditions have been or will be timely initiated.
    2. 2
      A favorable resolution of the delaying factors is expected. (See Example 10 [paragraph 360-10-55-46], which illustrates that situation.)
  3. c
    If during the initial one-year period, circumstances arise that previously were considered unlikely and, as a result, an entity to be sold previously classified as held for sale is not sold by the end of that period and all of the following conditions are met:
    1. 1
      During the initial one-year period, the entity initiated actions necessary to respond to the change in circumstances.
    2. 2
      The entity to be sold is being actively marketed at a price that is reasonable given the change in circumstances.
    3. 3
      The criteria in paragraph 205-20-45-1E are met. (See Example 11 [paragraph 360-10-55-48], which illustrates that situation.)
","snippet":"Events or circumstances beyond an entity's control may extend the period required to complete the sale of an entity to be sold beyond one year. An exception to the one-year requirement in paragraph 205-20-45-1E(d) shall …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8fe321f98d8b0c4e7c0c3f4fcab2c538e6d3d57f591842e45eb1d6827f55b359","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-2","para":"45-2","html":"
Paragraph superseded by Accounting Standards Update No. 2014-08.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-08.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b1f0443b9117304d23c6e87ed978a695c27e6af0c869f656e907cacfe77d7a5c","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3367d59b66b118ca3bef7a200e6fec027fc77f420f161587f381916b0a011c4","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"block":null,"heading":"Statement in Which Net Income Is Reported","paragraphs":[{"citation":"205-20-45-3","para":"45-3","html":"
The statement in which net income of a business entity is reported or the statement of activities of a not-for-profit entity (NFP) for current and prior periods shall report the results of operations of the discontinued operation, including any gain or loss recognized in accordance with paragraph 205-20-45-3C, in the period in which a discontinued operation either has been disposed of or is classified as held for sale.
","snippet":"The statement in which net income of a business entity is reported or the statement of activities of a not-for-profit entity (NFP) for current and prior periods shall report the results of operations of the discontinued …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b0e72b14d4d35804595ee954bade650d1a4b5d4e7ddd45d138dcfbde236422d3","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-3A","para":"45-3A","html":"
The results of all discontinued operations, less applicable income taxes (benefit), shall be reported as a separate component of income. For example, the results of all discontinued operations may be reported in the statement where net income of a business entity is reported as follows.
","snippet":"The results of all discontinued operations, less applicable income taxes (benefit), shall be reported as a separate component of income. For example, the results of all discontinued operations may be reported in the stat…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:74a3b183e5a9bb672f9d6cf5d01544b05ce58fe2146b3ce5fd58e96e005fd17b","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-3B","para":"45-3B","html":"
A gain or loss recognized on the disposal (or loss recognized on classification as held for sale) shall be presented separately on the face of the statement where net income is reported or disclosed in the notes to financial statements (see paragraph 205-20-50-1(b)).
","snippet":"A gain or loss recognized on the disposal (or loss recognized on classification as held for sale) shall be presented separately on the face of the statement where net income is reported or disclosed in the notes to finan…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0d53828b062167bd145e7229536378131beeb01db1b768ef0cdad526e5ebad20","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-3C","para":"45-3C","html":"
A gain or loss recognized on the disposal (or loss recognized on classification as held for sale) of a discontinued operation shall be calculated in accordance with the guidance in other Subtopics. For example, if a discontinued operation is within the scope of Topic 360 on property, plant, and equipment, an entity shall follow the guidance in paragraphs
360-10-35-37 through 35-45
and 360-10-40-5 for calculating the gain or loss recognized on the disposal (or loss on classification as held for sale) of the discontinued operation.
","snippet":"A gain or loss recognized on the disposal (or loss recognized on classification as held for sale) of a discontinued operation shall be calculated in accordance with the guidance in other Subtopics. For example, if a disc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2bac1d32d95347cb44ca440bcd4b4c56e54e1c47387a317fabb48450b408c98f","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-4","para":"45-4","html":"
Adjustments to amounts previously reported in discontinued operations in a prior period shall be presented separately in the current period in the discontinued operations section of the statement where net income is reported.
","snippet":"Adjustments to amounts previously reported in discontinued operations in a prior period shall be presented separately in the current period in the discontinued operations section of the statement where net income is repo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:85e0f2fe15c6d60389d6725de6f0c6e0d6f941e953cd80a40f2d3cd20817ccfd","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-5","para":"45-5","html":"
Examples of circumstances in which those types of adjustments may arise include the following:
  1. a
    The resolution of contingencies that arise pursuant to the terms of the disposal transaction, such as the resolution of purchase price adjustments and indemnification issues with the purchaser
  2. b
    The resolution of contingencies that arise from and that are directly related to the operations of the discontinued operation before its disposal, such as environmental and product warranty obligations retained by the seller
  3. c
    The settlement of employee benefit plan obligations (pension, postemployment benefits other than pensions, and other postemployment benefits), provided that the settlement is directly related to the disposal transaction. A settlement is directly related to the disposal transaction if there is a demonstrated direct cause-and-effect relationship and the settlement occurs no later than one year following the disposal transaction, unless it is delayed by events or circumstances beyond an entity's control (see paragraph 205-20-45-1G).
","snippet":"Examples of circumstances in which those types of adjustments may arise include the following:\n(a) The resolution of contingencies that arise pursuant to the terms of the disposal transaction, such as the resolution of p…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:81c8a7fb433588865b0b11755f5914f94d55a6c46edd9fd9caaed719bb62c442","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-6","para":"45-6","html":"
Interest on debt that is to be assumed by the buyer and interest on debt that is required to be repaid as a result of a disposal transaction shall be allocated to discontinued operations.
","snippet":"Interest on debt that is to be assumed by the buyer and interest on debt that is required to be repaid as a result of a disposal transaction shall be allocated to discontinued operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7d7c48eb173b2d8a45c3342149473463b3f12850b2bc1e47b5a406789dbcbe22","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-7","para":"45-7","html":"
The allocation to discontinued operations of other consolidated interest that is not directly attributable to or related to other operations of the entity is permitted but not required. Other consolidated interest that cannot be attributed to other operations of the entity is allocated based on the ratio of net assets to be sold or discontinued less debt that is required to be paid as a result of the disposal transaction to the sum of total net assets of the consolidated entity plus consolidated debt other than the following:
  1. a
    Debt of the discontinued operation that will be assumed by the buyer
  2. b
    Debt that is required to be paid as a result of the disposal transaction
  3. c
    Debt that can be directly attributed to other operations of the entity.
","snippet":"The allocation to discontinued operations of other consolidated interest that is not directly attributable to or related to other operations of the entity is permitted but not required. Other consolidated interest that c…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:59e26025b89701b886ddd07e651ca7bbf977d5728ae43daf853e7300597ba898","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-8","para":"45-8","html":"
This allocation assumes a uniform ratio of consolidated debt to equity for all operations (unless the assets to be sold are atypical—for example, a finance company—in which case a normal debt-equity ratio for that type of business may be used). If allocation based on net assets would not provide meaningful results, then the entity shall allocate interest to the discontinued operations based on debt that can be identified as specifically attributed to those operations. This guidance applies to income statement presentation of both continuing and discontinued operations (including the presentation of the gain or loss on disposal of a component of an entity). A decision as to interest allocation shall be applied consistently to all discontinued operations.
","snippet":"This allocation assumes a uniform ratio of consolidated debt to equity for all operations (unless the assets to be sold are atypical—for example, a finance company—in which case a normal debt-equity ratio for that type o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6d675dd0e045477317c54e29d139f1858ef554819988daf14a41d52d59894ecc","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-9","para":"45-9","html":"
General corporate overhead shall not be allocated to discontinued operations.
","snippet":"General corporate overhead shall not be allocated to discontinued operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ab26f4a898c3f9f981243dc82456810ff0b6e4853f8c6103696b31fcb5072797","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0fb800b79df542e8cca839487f01fa272f22295633fce840603c908e5af82bdf","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"block":null,"heading":"Statement of Financial Position","paragraphs":[{"citation":"205-20-45-10","para":"45-10","html":"
In the period(s) that a discontinued operation is classified as held for sale and for all prior periods presented, the assets and liabilities of the discontinued operation shall be presented separately in the asset and liability sections, respectively, of the statement of financial position. Those assets and liabilities shall not be offset and presented as a single amount. If a discontinued operation is part of a disposal group that includes other assets and liabilities that are not part of the discontinued operation, an entity may present the assets and liabilities of the disposal group separately in the asset and liability sections, respectively, of the statement of financial position. If a discontinued operation is disposed of before meeting the criteria in paragraph 205-20-45-1E to be classified as held for sale, an entity shall present the assets and liabilities of the discontinued operation separately in the asset and liability sections, respectively, of the statement of financial position for the periods presented in the statement of financial position before the period that includes the disposal. When an entity separately presents in prior periods the assets and liabilities of a discontinued operation, the entity shall not apply the guidance in paragraph 360-10-35-43 as if those assets and liabilities were held for sale in those prior periods.
","snippet":"In the period(s) that a discontinued operation is classified as held for sale and for all prior periods presented, the assets and liabilities of the discontinued operation shall be presented separately in the asset and l…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:381b08eef40417eaffb9b2f48b061b28400a42e9161e1dcd2bcd5a2e1e960284","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"citation":"205-20-45-11","para":"45-11","html":"
For any discontinued operation initially classified as held for sale in the current period, an entity shall either present on the face of the statement of financial position or disclose in the notes to financial statements (see paragraph 205-20-50-5B(e)) the major classes of assets and liabilities of the discontinued operation classified as held for sale for all periods presented in the statement of financial position. Any loss recognized on a discontinued operation classified as held for sale in accordance with paragraphs
205-20-45-3B through 45-3C
shall not be allocated to the major classes of assets and liabilities of the discontinued operation.
","snippet":"For any discontinued operation initially classified as held for sale in the current period, an entity shall either present on the face of the statement of financial position or disclose in the notes to financial statemen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7d20f6996b00fedde69240d1595fe7a0446549a2a56be99a9fd0de2aa1e00c3d","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:90295370286d8618a981b866c0fe18a1456528bf03214c91c66790f36077a667","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:98bac54cd6b9830c0988590d33ea9eca7ce2a8a683992f3fabbe5e4a990561b9","downloaded_from":"2026-09-09T22:53:00.884Z","last_downloaded_at":"2026-09-09T22:53:00.884Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483475","source_sha256":"971b18842ca15fd429cd0a2efa82465bf8b5c66dabf9449f5e77c9fd22c008ec"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Disclosures Required for All Types of Discontinued Operations","paragraphs":[{"citation":"205-20-50-1","para":"50-1","html":"
The following shall be disclosed in the notes to financial statements that cover the period in which a discontinued operation either has been disposed of or is classified as held for sale under the requirements of paragraph 205-20-45-1E:
  1. a
    A description of both of the following:
    1. 1
      The facts and circumstances leading to the disposal or expected disposal
    2. 2
      The expected manner and timing of that disposal.
  2. b
    If not separately presented on the face of the statement where net income is reported (or statement of activities for a not-for-profit entity) as part of discontinued operations (see paragraph 205-20-45-3B), the gain or loss recognized in accordance with paragraph 205-20-45-3C.
  3. c
    Subparagraph superseded by Accounting Standards Update No. 2014-08.
  4. d
    If applicable, the segment(s) in which the discontinued operation is reported under Topic 280 on segment reporting.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For interim and annual reporting periods, the following shall be disclosed in the notes to financial statements that cover the period in which a discontinued operation either has been disposed of or is classified as held for sale under the requirements of paragraph 205-20-45-1E:
  1. a
    A description of both of the following:
    1. 1
      The facts and circumstances leading to the disposal or expected disposal
    2. 2
      The expected manner and timing of that disposal.
  2. b
    If not separately presented on the face of the statement where net income is reported (or statement of activities for a not-for-profit entity) as part of discontinued operations (see paragraph 205-20-45-3B), the gain or loss recognized in accordance with paragraph 205-20-45-3C.
  3. c
  4. d
    If applicable, the segment(s) in which the discontinued operation is reported under Topic 280 on segment reporting.
","snippet":"The following shall be disclosed in the notes to financial statements that cover the period in which a discontinued operation either has been disposed of or is classified as held for sale under the requirements of paragr…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fd16b7ee9aa388c019774a7b66087df527e01302a9fe96f205c8679cc82b9195","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"citation":"205-20-50-2","para":"50-2","html":"
Paragraph superseded by Accounting Standards Update No. 2014-08.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-08.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:449341a866557730151388b1b7df57cbdcc9ac7fef9884f66eaa918be42bc8a9","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a0bdd2e122f64593fa3cb75acff52a82860c74b049ea72d630340c554b5ac828","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"block":null,"heading":"Change to a Plan of Sale","paragraphs":[{"citation":"205-20-50-3","para":"50-3","html":"
An entity may change its plan of sale as addressed in paragraph 360-10-35-44 or paragraph 360-10-35-45. In the period in which the decision is made to change the plan for selling the discontinued operation, an entity shall disclose in the notes to financial statements a description of the facts and circumstances leading to the decision to change that plan and the change's effect on the results of operations for the period and any prior periods presented.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1An entity may change its plan of sale as addressed in paragraph 360-10-35-44 or paragraph 360-10-35-45. In the period in which the decision is made to change the plan for selling the discontinued operation, an entity shall disclose in the notes to interim and annual financial statements a description of the facts and circumstances leading to the decision to change that plan and the change's effect on the results of operations for the period and any prior periods presented.
","snippet":"An entity may change its plan of sale as addressed in paragraph 360-10-35-44 or paragraph 360-10-35-45. In the period in which the decision is made to change the plan for selling the discontinued operation, an entity sha…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:272428480ca0c3aaf5b1e8caf2901c3c260dbd5452c4ef20daddbbdfb02a4530","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"citation":"205-20-50-3A","para":"50-3A","html":"
The nature and amount of adjustments to amounts previously reported in discontinued operations that are directly related to the disposal of a discontinued operation in a prior period shall be disclosed (see paragraph 205-20-45-5 for examples of circumstances in which those types of adjustments may arise).
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1The nature and amount of adjustments to amounts previously reported in discontinued operations that are directly related to the disposal of a discontinued operation in a prior period shall be disclosed in interim and annual reporting periods (see paragraph 205-20-45-5 for examples of circumstances in which those types of adjustments may arise).
","snippet":"The nature and amount of adjustments to amounts previously reported in discontinued operations that are directly related to the disposal of a discontinued operation in a prior period shall be disclosed (see paragraph 205…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:45063bf80b7bdd1bd3591de5c803392fbefc658c4897ff1919d595831a562022","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"citation":"205-20-50-4","para":"50-4","html":"
Paragraph superseded by Accounting Standards Update No. 2014-08.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-08.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3f738a6b569e279dfdbc8fe63c4c45e94f080a7b6796054ea47675d8d5514c81","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:82b40d631133be0cdc7ae960f178f9cb8a587b8030eb36c564a3eff030d28ea3","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"block":null,"heading":"Continuing Involvement","paragraphs":[{"citation":"205-20-50-4A","para":"50-4A","html":"
An entity shall disclose information about its significant continuing involvement with a discontinued operation after the disposal date. Examples of continuing involvement with a discontinued operation after the disposal date include a supply and distribution agreement, a financial guarantee, an option to repurchase a discontinued operation, and an equity method investment in the discontinued operation. The disclosures are required until the results of operations of the discontinued operation in which an entity retains significant continuing involvement are no longer presented separately as discontinued operations in the statement where net income is reported (or statement of activities for a not-for-profit entity).
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For interim and annual reporting periods, an entity shall disclose information about its significant continuing involvement with a discontinued operation after the disposal date. Examples of continuing involvement with a discontinued operation after the disposal date include a supply and distribution agreement, a financial guarantee, an option to repurchase a discontinued operation, and an equity method investment in the discontinued operation. The disclosures are required until the results of operations of the discontinued operation in which an entity retains significant continuing involvement are no longer presented separately as discontinued operations in the statement where net income is reported (or statement of activities for a not-for-profit entity).
","snippet":"An entity shall disclose information about its significant continuing involvement with a discontinued operation after the disposal date. Examples of continuing involvement with a discontinued operation after the disposal…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b4480c8ccf0b472f7a1792aa55038160c40b9492fe67a5328d7583759c67aa18","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"citation":"205-20-50-4B","para":"50-4B","html":"
An entity shall disclose the following in the notes to financial statements for each discontinued operation in which the entity retains significant continuing involvement after the disposal date:
  1. a
    A description of the nature of the activities that give rise to the continuing involvement.
  2. b
    The period of time during which the involvement is expected to continue.
  3. c
    For all periods presented, both of the following:
    1. 1
      The amount of any cash inflows or outflows from or to the discontinued operation after the disposal transaction
    2. 2
      Revenues or expenses presented, if any, in continuing operations after the disposal transaction that before the disposal transaction were eliminated in consolidated financial statements as intra-entity transactions.
  4. d
    For a discontinued operation in which an entity retains an equity method investment after the disposal (the investee), information that enables users of financial statements to compare the financial performance of the entity from period to period assuming that the entity held the same equity method investment in all periods presented in the statement where net income is reported (or statement of activities for a not-for-profit entity). The disclosure shall include all of the following until the discontinued operation is no longer reported separately in discontinued operations:
    1. 1
      For each period presented in the statement where net income is reported (or statement of activities for a not-for-profit entity) after the period in which the discontinued operation was disposed of, the pretax income of the investee in which the entity retains an equity method investment
    2. 2
      The entity's ownership interest in the discontinued operation before the disposal transaction
    3. 3
      The entity's ownership interest in the investee after the disposal transaction
    4. 4
      The entity's share of the income or loss of the investee in the period(s) after the disposal transaction and the line item in the statement where net income is reported (or statement of activities for a not-for-profit entity) that includes the income or loss.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For interim and annual reporting periods, an entity shall disclose the following in the notes to financial statements for each discontinued operation in which the entity retains significant continuing involvement after the disposal date:
  1. a
    A description of the nature of the activities that give rise to the continuing involvement.
  2. b
    The period of time during which the involvement is expected to continue.
  3. c
    For all periods presented, both of the following:
    1. 1
      The amount of any cash inflows or outflows from or to the discontinued operation after the disposal transaction
    2. 2
      Revenues or expenses presented, if any, in continuing operations after the disposal transaction that before the disposal transaction were eliminated in consolidated financial statements as intra-entity transactions.
  4. d
    For a discontinued operation in which an entity retains an equity method investment after the disposal (the investee), information that enables users of financial statements to compare the financial performance of the entity from period to period assuming that the entity held the same equity method investment in all periods presented in the statement where net income is reported (or statement of activities for a not-for-profit entity). The disclosure shall include all of the following until the discontinued operation is no longer reported separately in discontinued operations:
    1. 1
      For each period presented in the statement where net income is reported (or statement of activities for a not-for-profit entity) after the period in which the discontinued operation was disposed of, the pretax income of the investee in which the entity retains an equity method investment
    2. 2
      The entity's ownership interest in the discontinued operation before the disposal transaction
    3. 3
      The entity's ownership interest in the investee after the disposal transaction
    4. 4
      The entity's share of the income or loss of the investee in the period(s) after the disposal transaction and the line item in the statement where net income is reported (or statement of activities for a not-for-profit entity) that includes the income or loss.
","snippet":"An entity shall disclose the following in the notes to financial statements for each discontinued operation in which the entity retains significant continuing involvement after the disposal date:\n(a) A description of the…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de5308017d10780164cd1b4d1ba08fc3c66cd489b022be57a5a95375edc1fa6b","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"citation":"205-20-50-5","para":"50-5","html":"
Paragraph superseded by Accounting Standards Update No. 2014-08.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-08.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c4aef12c9eabdd1adaaa60e4f9af9b2b0ecb28e24d125e02d8d3763bc478d45a","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a688b52eb0033a6eed5d9061f865377f11ab8bd41e289aafc855e4d2a8be693c","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"block":null,"heading":"Disclosures Required for a Discontinued Operation Comprising a Component or Group of Components of an Entity","paragraphs":[{"citation":"205-20-50-5A","para":"50-5A","html":"
Paragraphs
205-20-50-5B through 50-5D
provide disclosures required for discontinued operations that meet the criteria in paragraphs
205-20-45-1B through 45-1C
except for a discontinued operation that was an equity method investment before the disposal. For disclosures required for discontinued operations that were equity method investments before the disposal, see paragraph 205-20-50-7.
","snippet":"Paragraphs 205-20-50-5B through 50-5D provide disclosures required for discontinued operations that meet the criteria in paragraphs 205-20-45-1B through 45-1C except for a discontinued operation that was an equity method…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2cdd6336765118cc10d1bbbae7c39d93185d05a6348583e14e6455cc4584db60","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"citation":"205-20-50-5B","para":"50-5B","html":"
An entity shall disclose, to the extent not presented on the face of the financial statements as part of discontinued operations, all of the following in the notes to financial statements:
  1. a
    The pretax profit or loss (or change in net assets for a not-for-profit entity) of the discontinued operation for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity).
  2. b
    The major classes of line items constituting the pretax profit or loss (or change in net assets for a not-for-profit entity) of the discontinued operation (for example, revenue, cost of sales, depreciation and amortization, and interest expense) for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity).
  3. c
    Either of the following:
    1. 1
      The total operating and investing cash flows of the discontinued operation for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity)
    2. 2
      The depreciation, amortization, capital expenditures, and significant operating and investing noncash items of the discontinued operation for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity).
  4. d
    If the discontinued operation includes a noncontrolling interest, the pretax profit or loss (or change in net assets for a not-for-profit entity) attributable to the parent for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity).
  5. e
    The carrying amount(s) of the major classes of assets and liabilities included as part of a discontinued operation classified as held for sale for the period in which the discontinued operation is classified as held for sale and all prior periods presented in the statement of financial position. Any loss recognized on the discontinued operation classified as held for sale in accordance with paragraphs
    205-20-45-3B through 45-3C
    shall not be allocated to the major classes of assets and liabilities of the discontinued operation.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For interim and annual reporting periods, an entity shall disclose, to the extent not presented on the face of the financial statements as part of discontinued operations, all of the following in the notes to financial statements:
  1. a
    The pretax profit or loss (or change in net assets for a not-for-profit entity) of the discontinued operation for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity).
  2. b
    The major classes of line items constituting the pretax profit or loss (or change in net assets for a not-for-profit entity) of the discontinued operation (for example, revenue, cost of sales, depreciation and amortization, and interest expense) for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity).
  3. c
    Either of the following:
    1. 1
      The total operating and investing cash flows of the discontinued operation for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity)
    2. 2
      The depreciation, amortization, capital expenditures, and significant operating and investing noncash items of the discontinued operation for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity).
  4. d
    If the discontinued operation includes a noncontrolling interest, the pretax profit or loss (or change in net assets for a not-for-profit entity) attributable to the parent for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities for a not-for-profit entity).
  5. e
    The carrying amount(s) of the major classes of assets and liabilities included as part of a discontinued operation classified as held for sale for the period in which the discontinued operation is classified as held for sale and all prior periods presented in the statement of financial position. Any loss recognized on the discontinued operation classified as held for sale in accordance with paragraphs
    205-20-45-3B through 45-3C
    shall not be allocated to the major classes of assets and liabilities of the discontinued operation.
","snippet":"An entity shall disclose, to the extent not presented on the face of the financial statements as part of discontinued operations, all of the following in the notes to financial statements:\n(a) The pretax profit or loss (…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:566b8ee1e4b18418419a2f83ec6bc28fdcf76619f6d0f6434a8908b02b72b572","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"citation":"205-20-50-5C","para":"50-5C","html":"
If an entity provides the disclosures required by paragraph 205-20-50-5B(a), (b), and (e) in the notes to financial statements, the entity shall disclose the following:
  1. a
    For the initial period in which the disposal group is classified as held for sale and for all prior periods presented in the statement of financial position, a reconciliation of both of the following:
    1. 1
      The amounts disclosed in paragraph 205-20-50-5B(e)
    2. 2
      Total assets and total liabilities of the disposal group classified as held for sale that are presented separately on the face of the statement of financial position. If the disposal group includes assets and liabilities that are not part of the discontinued operation, an entity shall present those assets and liabilities in line items in the reconciliations that are separate from the assets and liabilities of the discontinued operation (see paragraph 205-20-55-102 for an Example).
  2. b
    For the periods in which the results of operations of the discontinued operation are reported in the statement where net income is reported (or statement of activities for a not-for-profit entity), a reconciliation of both of the following:
    1. 1
      The amounts disclosed in paragraph 205-20-50-5B(a) and (b)
    2. 2
      The after-tax profit or loss from discontinued operations presented on the face of the statement where net income is reported (or statement of activities for a not-for-profit entity) (see paragraph 205-20-55-103 for an Example).
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1If an entity provides the disclosures required by paragraph 205-20-50-5B(a), (b), and (e) in the notes to financial statements, the entity shall disclose the following in interim and annual reporting periods:
  1. a
    For the initial period in which the disposal group is classified as held for sale and for all prior periods presented in the statement of financial position, a reconciliation of both of the following:
    1. 1
      The amounts disclosed in paragraph 205-20-50-5B(e)
    2. 2
      Total assets and total liabilities of the disposal group classified as held for sale that are presented separately on the face of the statement of financial position. If the disposal group includes assets and liabilities that are not part of the discontinued operation, an entity shall present those assets and liabilities in line items in the reconciliations that are separate from the assets and liabilities of the discontinued operation (see paragraph 205-20-55-102 for an Example).
  2. b
    For the periods in which the results of operations of the discontinued operation are reported in the statement where net income is reported (or statement of activities for a not-for-profit entity), a reconciliation of both of the following:
    1. 1
      The amounts disclosed in paragraph 205-20-50-5B(a) and (b)
    2. 2
      The after-tax profit or loss from discontinued operations presented on the face of the statement where net income is reported (or statement of activities for a not-for-profit entity) (see paragraph 205-20-55-103 for an Example).
","snippet":"If an entity provides the disclosures required by paragraph 205-20-50-5B(a), (b), and (e) in the notes to financial statements, the entity shall disclose the following:\n(a) For the initial period in which the disposal gr…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:15abe117ee4ef46228c48d013b9a406e91736b3e21cd05a13ea258a635a01304","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"citation":"205-20-50-5D","para":"50-5D","html":"
For purposes of the reconciliation in paragraph 205-20-50-5C(a) or (b), an entity may aggregate the amounts that are not considered major and present them as one line item in the reconciliation.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For purposes of the reconciliation in paragraph 205-20-50-5C(a) or (b), an entity may aggregate the amounts that are not considered major and present them as one line item in the reconciliation in interim and annual reporting periods.
","snippet":"For purposes of the reconciliation in paragraph 205-20-50-5C(a) or (b), an entity may aggregate the amounts that are not considered major and present them as one line item in the reconciliation.Transition date:(P) Decemb…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:98e509b7ba200eeeac812dda007973d1b2167f5851cf369434cfaaafd653c5a0","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"citation":"205-20-50-6","para":"50-6","html":"
Paragraph superseded by Accounting Standards Update No. 2014-08.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-08.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:587a8da37da03ef757dd647f794598c8507b6cfe8b131ca9c7dbf89894a56525","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:00d7e6826a4523efa4093c8612d7b63821b2174fcd601c476d3e4e811d20f379","downloaded_from":"2026-09-09T22:53:03.747Z","last_downloaded_at":"2026-09-09T22:53:03.747Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483499","source_sha256":"5525558ef4f3c2b69283ce8c8ce314eacb2a8ec0efb526c79c112200499b684d"}},{"block":null,"heading":"Disclosures Required for a Discontinued Operation Comprising an Equity Method Investment","paragraphs":[{"citation":"205-20-50-7","para":"50-7","html":"
For an equity method investment that meets the criteria in paragraphs
205-20-45-1B through 45-1C
, an entity shall disclose summarized information about the assets, liabilities, and results of operations of the investee if that information was disclosed in financial reporting periods before the disposal in accordance with paragraph 323-10-50-3(c).
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1For an equity method investment that meets the criteria in paragraphs
205-20-45-1B through 45-1C
, an entity shall disclose summarized information about the assets, liabilities, and results of operations of the investee in interim and annual reporting periods if that information was disclosed in financial reporting periods before the disposal in accordance with paragraph 323-10-50-3(c).
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The following flowchart provides an overview of the disclosures required for discontinued operations.
  • \"Does the entity have a discontinued operation under the criteria in paragraphs 205-20-45-1A through 45-1D?\" Not a discontinued operation. See the flowchart in paragraph 360-10-55-18A for the required disclosures for the impairment or disposal of a long-lived asset. No \"Disclose the following in the notes to financial statements that cover the period in which a discontinued operation either has been disposed of or is classified as held for sale under the requirements of paragraph 205-20-45-1E (see paragraph 205-20-50-1):\" Yes a. A description of both the facts and circumstances leading to the disposal or expected disposal and the expected manner and timing of that disposal. \"b. If not separately presented on the face of the statement where net income is reported (or statement of activities for a not-for-profit entity) as part of discontinued operations (see paragraph 205-20-45-3B), the gain or loss recognized in accordance with paragraph 205-20-45-3C.\" \"d. If applicable, the segment(s) in which the discontinued operation is reported under Topic 280 on segment reporting.\" Required Disclosures for a Discontinued Operation \"Did the entity change its plan of sale as addressed in paragraph 360-10-35-44 or 360-10-35-45?\" \"In the period in which the decision is made to change the plan for selling the discontinued operation, disclose in the notes to financial statements a description of the facts and circumstances leading to the decision to change that plan and the change's effect on the results of operations for the period and any prior periods presented (see paragraph 205-20-50-3).\" Yes No Did the entity have any adjustments to amounts previously reported in discontinued operations? Disclose the nature and amount of adjustments to amounts previously reported in discontinued operations that are directly related to the disposal of a discontinued operation in a prior period. See paragraph 205-20-45-5 for examples of circumstances in which those types of adjustments may arise (see paragraph 205-20-50-3A). Yes \"Did the entity have continuing involvement?\" No A Yes B No
  • Disclosures are complete for a discontinued operation that is a business or nonprofit activity held for sale at acquisition or a joint venture upon formation. \"Disclose the summarized information about the assets, liabilities, and results of operations of the investee if that information was disclosed in financial reporting periods before the disposal in accordance with paragraph 323-10-50-3(c) (see paragraph 205-20-50-7).\" a. The pretax profit or loss (or change in net assets) of the discontinued operation. b. The major classes of line items constituting the pretax profit or loss (or change in net assets) of the discontinued operation. \"Was the discontinued operation an equity method investment before the disposal?\" \"To the extent not presented on the face of the financial statements as part of discontinued operations, disclose all of the following in the notes to financial statements for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities) or for the period in which the discontinued operation is classified as held for sale and all prior periods presented in the statement of financial position (as applicable) (see paragraph 205-20-50-5B):\" \"d. If the discontinued operation includes a noncontrolling interest, the pretax profit or loss (or change in net assets) attributable to the parent.\" e. The carrying amount(s) of the major classes of assets and liabilities included as part of a discontinued operation classified as held for sale. \"Which criterion does the discontinued operation meet?\" 205-20-45-1D 205-20-45-1B through 45-1C C \"c. Either the total operating and investing cash flows of the discontinued operation or the depreciation, amortization, capital expenditures, and significant operating and investing noncash items of the discontinued operation.\" Disclose information about an entity's significant continuing involvement with a discontinued operation after the disposal date. The disclosures are required until the results of operations of the discontinued operation in which an entity retains significant continuing involvement are no longer presented separately as discontinued operations in the statement where net income is reported (or statement of activities). Disclose the following for each discontinued operation in which the entity retains significant continuing involvement after the disposal date (see paragraphs 205-20-50-4A through 50-4B): a. A description of the nature of the activities that give rise to the continuing involvement. b. The period of time during which the involvement is expected to continue. \"c. For all periods presented, both the amount of any cash inflows or outflows from or to the discontinued operation after the disposal transaction and revenues or expenses presented, if any, in continuing operations after the disposal transaction that before the disposal transaction were eliminated in consolidated financial statements as intra-entity transactions.\" \"d. For a discontinued operation in which an entity retains an equity method investment after the disposal (the investee), information that enables users of financial statements to compare the financial performance of the entity from period to period assuming that the entity held the same equity method investment in all periods presented in the statement where net income is reported (or statement of activities). The disclosure should include all of the following until the discontinued operation is no longer reported separately in discontinued operations:\" \"1. For each period presented in the statement where net income is reported (or statement of activities) after the period in which the discontinued operation was disposed of, the pretax income of the discontinued operation in which the entity retains an equity method investment.\" 2. The entity's ownership interest in the discontinued operation before the disposal transaction. 3. The entity's ownership interest in the investee after the disposal transaction. 4. The entity's share of the income or loss of the investee in the period(s) after the disposal transaction and the line item in the statement where net income is reported (or statement of activities) that includes the income or loss. A B No Yes
  • \"Did the entity provide the disclosures required by paragraph 205-20-50-5B(a), (b), and (e)?\" \"Disclose the following (may aggregate the amounts that are not considered major and present them as one line item in the reconciliation) (see paragraphs 205-20-50-5C through 50-5D):\" Disclosures are complete. Yes No 1. The amounts required to be disclosed in paragraph 205-20-50-5B(e). \"2. Total assets and total liabilities of the disposal group classified as held for sale that are presented separately on the face of the statement of financial position. If the disposal group includes assets and liabilities that are not part of the discontinued operation, present those assets and liabilities in line items in the reconciliations that are separate from the assets and liabilities of the discontinued operation.\" \"a. For the initial period in which the disposal group is classified as held for sale and for all prior periods presented in the statement of financial position, a reconciliation of both:\" \"b. For the periods in which the results of operations of the discontinued operation are reported in the statement where net income is reported (or statement of activities), a reconciliation of both:\" 1. The amounts required to be disclosed in paragraph 205-20-50-5B(a) and (b). 2. The after-tax profit or loss from discontinued operations presented on the face of the statement where net income is reported (or statement of activities). C
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Examples 1 through 3 provide illustrations of the guidance in paragraphs
205-20-45-1B through 45-1C
on disposals of groups of components of an entity representing strategic shifts that have a major effect on the entity's operations and financial results and are reported in discontinued operations.
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An entity manufactures and sells consumer products that are grouped into five major product lines. Each product line includes several brands that comprise operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each major product line includes a group of components of the entity.
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The entity has experienced high growth in its discount cleaning product line that has lower price points than its premium cleaning product line. Total revenues from the discount cleaning product line are 15 percent of the entity's total revenues; however, the discount cleaning product line will require significant future investments to increase its profits. Therefore, the entity decides to shift its strategy of selling cleaning products at multiple price points and focus solely on selling cleaning products at a premium price point. As a result, the entity decides to sell the discount cleaning product line.
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Because the entity shifts its strategy of offering discount cleaning products to consumers and because the discount cleaning product line is one of five major product lines that is a major part of the entity's operations and financial results, the disposal represents a strategic shift that is reported in discontinued operations.
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An entity manufactures and sells food products that are grouped into five major geographical areas (Europe, Asia, Africa, the Americas, and Oceania). Each major geographical area includes several brands that comprise operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each major geographical area includes a group of components of the entity.
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The entity has experienced slower growth in its operations located in the Americas, which accounts for 20 percent of the entity's total assets. Therefore, the entity decides to shift its strategy of selling food products in that geographical area and focus its resources on manufacturing and marketing food products in its other four higher growth geographical areas. As a result, the entity decides to sell its operations in the Americas.
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Because the entity's operations in the Americas is one of five major geographical areas that is a major part of the entity's operations and financial results, the disposal represents a strategic shift that is reported in discontinued operations.
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An entity that is a general merchandise retailer operates 1,000 retail stores in 2 different store formats—malls and supercenter stores—throughout the United States. The entity divides its stores into five major geographical regions: the Northwest, Southwest, Midwest, Northeast, and Southeast. For that entity, each retail store comprises operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each retail store is a component of the entity.
","snippet":"An entity that is a general merchandise retailer operates 1,000 retail stores in 2 different store formats—malls and supercenter stores—throughout the United States. The entity divides its stores into five major geograph…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b6e320b65fed462daacff4a7150b4121abfaa779e01a6225cabf3c0d18233c0a","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-91","para":"55-91","html":"
The entity has experienced declining net income at its 200 stores located in malls across all 5 major geographical regions. Historically, net income from the 200 stores in malls has been in a range of 30 to 40 percent of the entity's total net income. Total net income from the 200 stores in malls is down to 15 percent of the entity's total net income because of declining customer traffic in malls. Therefore, the entity decides to shift its strategy of selling products in malls and sell the 200 stores located in malls.
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Because the entity decides to shift its strategy of selling products in malls and focus solely on its supercenter stores and because the 200 stores located in malls are a major part of the entity's operations and financial results, the disposal represents a strategic shift that is reported in discontinued operations.
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This Example provides an illustration of the guidance in paragraphs
205-20-45-1B through 45-1C
. In this Example, the entity disposes of a component of an entity that is an equity method investment representing a strategic shift that has a major effect on the entity's operations and financial results and is reported in discontinued operations.
","snippet":"This Example provides an illustration of the guidance in paragraphs 205-20-45-1B through 45-1C. In this Example, the entity disposes of a component of an entity that is an equity method investment representing a strategi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:27bc07e029d8a22f6938b6a0391c842fa209f805fd58e3b5772150e60549bcbc","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-94","para":"55-94","html":"
An entity that follows the successful-efforts method of accounting produces oil and gas in two major geographical areas (Europe and Africa) that are each divided into several regions. Each region comprises operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each major geographical area includes a group of components of the entity.
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In its operations located in Africa, the entity operates through a joint venture with another entity that is accounted for by the reporting entity as an equity method investment. The entity's carrying amount of its investment in the joint venture is 20 percent of the entity's total assets. Because of significant investments needed in its operations in Europe, the entity decides to shift its strategy of operating in Africa to focus on its operations in Europe and sell its stake in the joint venture.
","snippet":"In its operations located in Africa, the entity operates through a joint venture with another entity that is accounted for by the reporting entity as an equity method investment. The entity's carrying amount of its inves…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5b0153ffc22f058bb6383f3a339056b750e14f5c8edfd14243f4c4e04a6ab507","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-96","para":"55-96","html":"
Because the entity shifts its strategy of operating a joint venture to focus on its operations in Europe where it maintains full control and because its operations in Africa are a major part of the entity's operations and financial results, its disposal represents a strategic shift that is reported in discontinued operations.
","snippet":"Because the entity shifts its strategy of operating a joint venture to focus on its operations in Europe where it maintains full control and because its operations in Africa are a major part of the entity's operations an…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8844ac55ed630095b356d457ed13b4f26b01f31468b54ba8a395594b1c885259","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-97","para":"55-97","html":"
This Example provides an illustration of the guidance in paragraphs
205-20-45-1B through 45-1C
. In this Example, the entity sells 80 percent of a group of components of an entity representing a strategic shift that has a major effect on the entity's operations and financial results and is reported in discontinued operations.
","snippet":"This Example provides an illustration of the guidance in paragraphs 205-20-45-1B through 45-1C. In this Example, the entity sells 80 percent of a group of components of an entity representing a strategic shift that has a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e156203493da2d5f2a85f5f6f606d4ace6a12d3b75a05648ec0a4fffcc4906d5","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-98","para":"55-98","html":"
An entity that manufactures and sells sports equipment has two product lines that serve the football and baseball markets. Each product line includes several different brands that each comprise operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each product line includes a group of components of the entity.
","snippet":"An entity that manufactures and sells sports equipment has two product lines that serve the football and baseball markets. Each product line includes several different brands that each comprise operations and cash flows …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a37847650e7796e7de6f5f5c0916fa652ad40105dabbfcafb8f3e9b8bdcbf40e","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-99","para":"55-99","html":"
The entity decides to shift its strategy of trying to sell products to the baseball equipment market, which accounts for 40 percent of its revenues, and focus more on serving its customers in the football equipment market. However, the entity decides to retain some exposure to the baseball equipment market by selling only 80 percent of the group of components in its product line that serves the baseball market to another entity.
","snippet":"The entity decides to shift its strategy of trying to sell products to the baseball equipment market, which accounts for 40 percent of its revenues, and focus more on serving its customers in the football equipment marke…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:251b60cdade1bbd3a8449c37675350f67229fbee676b219264ba450043091ff8","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-100","para":"55-100","html":"
Because the entity decides to shift its strategy of trying to sell products to the baseball equipment market by selling 80 percent of the group of components of the entity in that product line and because the portion sold comprises a major part of the entity's operations and financial results, its disposal represents a strategic shift that is reported in discontinued operations.
","snippet":"Because the entity decides to shift its strategy of trying to sell products to the baseball equipment market by selling 80 percent of the group of components of the entity in that product line and because the portion sol…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:671682646384298e2a901e7d685d2527e010ee98b7fde8013f0c3d5a19dc5375","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-101","para":"55-101","html":"
Because of the entity's significant continuing involvement after the disposal date, the entity provides the disclosures required by paragraphs
205-20-50-4A through 50-4B
.
","snippet":"Because of the entity's significant continuing involvement after the disposal date, the entity provides the disclosures required by paragraphs 205-20-50-4A through 50-4B.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ef92575a8f60f69f41097cf1d31424bb5a586accbdf295d1fa887d70569a1c99","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-102","para":"55-102","html":"
The table in this illustration provides one example of how to disclose the reconciliation required by paragraph 205-20-50-5C(a).
","snippet":"The table in this illustration provides one example of how to disclose the reconciliation required by paragraph 205-20-50-5C(a).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b7f6c97e72c78d907680e022e8f2016d8d1dd46fa4d4cf3ffd258ff740abb0a3","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"citation":"205-20-55-103","para":"55-103","html":"
The table in this illustration provides one example of how to disclose the reconciliation required by paragraph 205-20-50-5C(b).
","snippet":"The table in this illustration provides one example of how to disclose the reconciliation required by paragraph 205-20-50-5C(b).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:48228ce6f12c37517086771f8165af8157ec953fb395be01b762758df62fe3e4","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e70349588c46b9fa5c9850d025ac87015204350488435af7ca17fdbbf84542c","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:76dbc76bb1ba076ee01cfb1b0352310b561b6a325f771b8cfc863f3336149450","downloaded_from":"2026-09-09T22:53:05.574Z","last_downloaded_at":"2026-09-09T22:53:05.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483474","source_sha256":"25654d9eea2e19f71a01a656bdade31d6ca83a588a5cb4988847710bbb94bdf5"}},{"number":"60","label":"60 Relationships","anchor":"60-relationships","is_sec":false,"groups":[{"block":null,"heading":"Earnings Per Share","paragraphs":[{"citation":"205-20-60-1","para":"60-1","html":"
For guidance on the presentation of basic and diluted per-share amounts for entities that report discontinued operations, see paragraph 260-10-45-3.
","snippet":"For guidance on the presentation of basic and diluted per-share amounts for entities that report discontinued operations, see paragraph 260-10-45-3.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:33b53501a7c7d9e6300d8289498cba672fd2f4afad07c25cc600de1744a0e4d4","downloaded_from":"2026-09-09T22:53:09.044Z","last_downloaded_at":"2026-09-09T22:53:09.044Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483498","source_sha256":"d996259a42b84308a7962db828faa70a777baf8b593094dba699d82e8f56007a"}},{"citation":"205-20-60-2","para":"60-2","html":"
For guidance on the control number to use in determining whether potential common shares are dilutive or antidilutive for entities that report discontinued operations, see paragraph 260-10-45-18.
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For guidance on the reporting and financial statement disclosure requirements for a component of an entity that is reported as a discontinued operation and is a reportable segment, see paragraph 280-10-55-7.
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For guidance on reporting a goodwill impairment loss associated with a discontinued operation, see paragraph 350-20-45-3.
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The following is the text of SAB Topic 5.Z.5, Classification and Disclosure of Contingencies Relating to Discontinued Operations.
","snippet":"The following is the text of SAB Topic 5.Z.5, Classification and Disclosure of Contingencies Relating to Discontinued Operations.\nFacts: A company disposed of a component of an entity in a previous accounting period. The…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bfe89dc0fba6e29967c6a91f8db93deadcb8c9bd5b0b8d7c73894d9ba9e4c504","downloaded_from":"2026-09-09T22:53:32.088Z","last_downloaded_at":"2026-09-09T22:53:32.088Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480781","source_sha256":"889aef9d9355cefc347ca2f291125527d6d0846056b56a6d419daff75012df98"}},{"citation":"205-20-S99-3","para":"S99-3","html":"
The following is the text of SEC Observer Comment: Allocation of Interest to Discontinued Operations.
","snippet":"The following is the text of SEC Observer Comment: Allocation of Interest to Discontinued Operations.\nThe SEC staff will expect registrants electing to allocate interest in accordance with paragraph 205-20-45-6 to clearl…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4befb490ade05c6c280991fec8d971d7a23ebce48db374ebcec5254e75a177b0","downloaded_from":"2026-09-09T22:53:32.088Z","last_downloaded_at":"2026-09-09T22:53:32.088Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480781","source_sha256":"889aef9d9355cefc347ca2f291125527d6d0846056b56a6d419daff75012df98"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:32300dd278efc768aa49717dd96939080d52861f9fe892a780bb255d1bd999d4","downloaded_from":"2026-09-09T22:53:32.088Z","last_downloaded_at":"2026-09-09T22:53:32.088Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480781","source_sha256":"889aef9d9355cefc347ca2f291125527d6d0846056b56a6d419daff75012df98"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2e012fa7ef563a22e8341e8c6acbd3ead9a9ca028da43c0081b141357bf8602b","downloaded_from":"2026-09-09T22:53:32.088Z","last_downloaded_at":"2026-09-09T22:53:32.088Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480781","source_sha256":"889aef9d9355cefc347ca2f291125527d6d0846056b56a6d419daff75012df98"}}],"enrichment":{"summary":"ASC 205-20 governs when a disposal must be reported as a discontinued operation and how it is presented and disclosed. A disposal of a component (or group of components) qualifies only if it represents a strategic shift that has (or will have) a major effect on the entity's operations and financial results, triggered when the component is classified as held for sale, disposed of by sale, or disposed of other than by sale (e.g., abandonment or spinoff) (205-20-45-1B). Results of discontinued operations, net of tax, are presented as a separate component of income for current and prior periods, held-for-sale assets and liabilities are presented separately (not offset) on the balance sheet, and extensive note disclosures are required.","key_points":["Scope covers a component or group of components disposed of or classified as held for sale, and a business or nonprofit activity classified as held for sale on acquisition or upon formation of a joint venture; full-cost-method oil and gas properties are excluded (205-20-15-2 through 15-3).","Discontinued operations reporting requires a strategic shift with a major effect — e.g., disposal of a major geographical area, major line of business, or major equity method investment — upon held-for-sale classification, sale, or disposal other than by sale (205-20-45-1B through 45-1C).","Held-for-sale classification requires all six criteria in 205-20-45-1E (management commitment, available for immediate sale, active program to locate a buyer, sale probable within one year, active marketing at a price reasonable to fair value, and unlikely significant plan changes), with limited one-year exceptions in 205-20-45-1G; if criteria cease to be met, the asset is reclassified as held and used under 360-10-35-44 (205-20-45-1F).","Results of all discontinued operations, less applicable income taxes, are reported as a separate component of income for current and prior periods, and any gain or loss on disposal (or loss on held-for-sale classification), computed under other Subtopics such as Topic 360, is presented on the face or disclosed in the notes (205-20-45-3 through 45-3C).","Interest on debt assumed by the buyer or required to be repaid must be allocated to discontinued operations; allocation of other consolidated interest is permitted but not required and must be applied consistently, while general corporate overhead shall never be allocated (205-20-45-6 through 45-9).","Assets and liabilities of a discontinued operation classified as held for sale are presented separately in the asset and liability sections of the balance sheet for all periods presented and shall not be offset as a single amount; major classes must be presented on the face or disclosed (205-20-45-10 through 45-11).","Required disclosures include facts and circumstances of the disposal, segment(s) involved, pretax profit or loss and its major line items, cash flow data, major classes of held-for-sale assets and liabilities with reconciliations, and significant continuing involvement after disposal; an equity method investment disposal gets only the limited disclosure in 205-20-50-7 (205-20-50-1, 50-4A through 50-5D)."],"categories":["Presentation","Disclosure","Financial statement presentation","Derecognition"],"audience_level":"intermediate","student_note":"Post-ASU 2014-08 the bar is high: not every disposal of a component is a discontinued operation \\u2014 it must be a strategic shift with a major effect (major line of business, geography, or equity method investment). A common exam trap is assuming continuing involvement or retained interest disqualifies discontinued operations treatment; it does not, it just triggers the extra disclosures in 205-20-50-4A through 50-4B.","related_topics":["360-10","205-10","280-10","260-10","323-10","350-20"],"key_concepts":["discontinued operations","strategic shift with major effect","component of an entity","held for sale criteria","disposal group","continuing involvement","interest allocation","equity method investment disposal"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d5e847036a4170b04f37dec16cfe77eccb3f014ef50b8549f1723c48c33b2412","downloaded_from":"2026-09-09T22:52:47.473Z","last_downloaded_at":"2026-09-09T22:53:32.088Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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Statements","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5d2cbd18b550ff930a7e08118b2cabc2bb6867f3f1ed50bad785d953e1b5d7a0","downloaded_from":"2026-09-09T22:53:35.692Z","last_downloaded_at":"2026-09-09T22:54:07.641Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b93aa0921f4a3a3b90cc7c0d39a5a404c1c30c4ece83f97b55bc921d3c77345c","downloaded_from":"2026-09-09T22:52:47.473Z","last_downloaded_at":"2026-09-09T22:53:32.088Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"205-30","topic":"205","title":"Liquidation Basis of Accounting","area":"Presentation","paragraphs":22,"summary":"ASC 205-30 tells an entity when it must abandon going-concern accounting and switch to the liquidation basis, how to measure assets and liabilities under that basis, and what to disclose. The trigger is that liquidation is \"imminent\" (205-30-25-1 and 25-2), unless the liquidation follows a plan specified in the entity's governing documents at inception. Under the liquidation basis, assets are measured at the estimated cash or other consideration expected to be collected, previously unrecognized items such as trademarks are recognized, expected disposal costs and income/expenses through the end of liquidation are accrued (undiscounted), and the entity presents a statement of net assets in liquidation and a statement of changes in net assets in liquidation.","concepts":["liquidation basis of accounting","liquidation is imminent","plan for liquidation","statement of net assets in liquidation","statement of changes in net assets in liquidation","expected collectible consideration","accrued disposal costs","previously unrecognized assets"],"categories":["Presentation","Financial statement presentation","Subsequent measurement","Disclosure"],"level":"intermediate","topic_title":"Presentation of Financial Statements","sections":[{"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":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Fair Value Added Accounting Standards Update No. 2013-07 04/22/2013
Liquidation Added Accounting Standards Update No. 2013-07 04/22/2013
Remote Added Maintenance Update 2016-17 (PDF) 09/02/2016
Statement of Changes in Net Assets in Liquidation Added Accounting Standards Update No. 2013-07 04/22/2013
Statement of Net Assets in Liquidation Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-05-1 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-15-1 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-25-1 through 25-7
 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-25-2 Amended Maintenance Update 2016-17 (PDF) 09/02/2016
205-30-30-1 through 30-3
 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-35-1 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-45-1 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-45-2 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-50-1 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-50-2 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-55-1 through 55-3
 Added Accounting Standards Update No. 2013-07 04/22/2013
205-30-65-1 Added Accounting Standards Update No. 2013-07 04/22/2013
","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"}},{"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":"
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.
","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"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-30-15-1","para":"15-1","html":"
The guidance in this Subtopic applies to all entities except for investment companies regulated under the Investment Company Act of 1940. Other entities shall not apply this scope exception by analogy.
","snippet":"The guidance in this Subtopic applies to all entities except for investment companies regulated under the Investment Company Act of 1940. Other entities shall not apply this scope exception by analogy.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:41887e4c620926bfd119d9c2a4cf858bc9736169f87f97834ef70c55972906e4","downloaded_from":"2026-09-09T22:53:41.204Z","last_downloaded_at":"2026-09-09T22:53:41.204Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480090","source_sha256":"b3359c7d838e99be05d848ab841ec43cb2ed68bbd165fe82838a1aeeffe65221"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:342b040fd48e3e1fdf85f1ce54ba3a8fb9f70831b982373736be523d46a17cf8","downloaded_from":"2026-09-09T22:53:41.204Z","last_downloaded_at":"2026-09-09T22:53:41.204Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480090","source_sha256":"b3359c7d838e99be05d848ab841ec43cb2ed68bbd165fe82838a1aeeffe65221"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a14ea085a083f3b7c4a46cb886088c4629e0da29cff757fe462efe93d23cd14","downloaded_from":"2026-09-09T22:53:41.204Z","last_downloaded_at":"2026-09-09T22:53:41.204Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480090","source_sha256":"b3359c7d838e99be05d848ab841ec43cb2ed68bbd165fe82838a1aeeffe65221"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-30-25-1","para":"25-1","html":"
An entity shall prepare financial statements in accordance with the requirements of this Subtopic when liquidation is imminent unless the liquidation follows a plan for liquidation that was specified in the entity's governing documents at the entity's inception.
","snippet":"An entity shall prepare financial statements in accordance with the requirements of this Subtopic when liquidation is imminent unless the liquidation follows a plan for liquidation that was specified in the entity's gove…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:df76e8ce820b92fbe26d5f2e01ec9035653351736cfe1f21550962900fc19139","downloaded_from":"2026-09-09T22:53:46.857Z","last_downloaded_at":"2026-09-09T22:53:46.857Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480034","source_sha256":"7a59e528dec7ab4dde8a4ee7651e2f407d76eedbb4b7c61d6f7b2c83116bade0"}},{"citation":"205-30-25-2","para":"25-2","html":"
Liquidation is imminent when either of the following occurs:
  1. a
    A plan for liquidation has been approved by the person or persons with the authority to make such a plan effective, and the likelihood is remote that any of the following will occur:
    1. 1
      Execution of the plan will be blocked by other parties (for example, those with shareholder rights)
    2. 2
      The entity will return from liquidation.
  2. b
    A plan for liquidation is imposed by other forces (for example, involuntary bankruptcy), and the likelihood is remote that the entity will return from liquidation.
","snippet":"Liquidation is imminent when either of the following occurs:\n(a) A plan for liquidation has been approved by the person or persons with the authority to make such a plan effective, and the likelihood is remote that any o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:60183de97b9c58d6da80481125d4a2c6cc1f4d61a5fff7c2fb6b3a28eb640f20","downloaded_from":"2026-09-09T22:53:46.857Z","last_downloaded_at":"2026-09-09T22:53:46.857Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480034","source_sha256":"7a59e528dec7ab4dde8a4ee7651e2f407d76eedbb4b7c61d6f7b2c83116bade0"}},{"citation":"205-30-25-3","para":"25-3","html":"
An entity shall presume that its plan of liquidation does not follow a plan that was specified in the entity's governing documents at its inception if the entity is forced to dispose of its assets in exchange for consideration that is not commensurate with the fair value of those assets. Other aspects of the entity's plan of liquidation also might differ from a plan that was specified in the entity's governing documents at its inception (for example, the date at which liquidation shall commence). However, those factors should be considered in determining whether to apply the liquidation basis of accounting only to the extent that they affect whether the entity expects to receive consideration in exchange for its assets that is not commensurate with fair value.
","snippet":"An entity shall presume that its plan of liquidation does not follow a plan that was specified in the entity's governing documents at its inception if the entity is forced to dispose of its assets in exchange for conside…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1649e19e4c1e8305c270db306f9e5fd91d94b5543dc7b7ad7e0a27393041e20d","downloaded_from":"2026-09-09T22:53:46.857Z","last_downloaded_at":"2026-09-09T22:53:46.857Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480034","source_sha256":"7a59e528dec7ab4dde8a4ee7651e2f407d76eedbb4b7c61d6f7b2c83116bade0"}},{"citation":"205-30-25-4","para":"25-4","html":"
When using the liquidation basis of accounting, an entity shall recognize other items that it previously had not recognized (for example, trademarks) but that it expects to either sell in liquidation or use to settle liabilities. Those items may be recognized in the aggregate.
","snippet":"When using the liquidation basis of accounting, an entity shall recognize other items that it previously had not recognized (for example, trademarks) but that it expects to either sell in liquidation or use to settle lia…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7210a749d6d7956a1391ba39560391eb54005b660240e219a6c51c286941ee23","downloaded_from":"2026-09-09T22:53:46.857Z","last_downloaded_at":"2026-09-09T22:53:46.857Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480034","source_sha256":"7a59e528dec7ab4dde8a4ee7651e2f407d76eedbb4b7c61d6f7b2c83116bade0"}},{"citation":"205-30-25-5","para":"25-5","html":"
An entity shall recognize liabilities in accordance with the recognition provisions of other Topics that otherwise would apply to those liabilities, including paragraph 405-20-40-1.
","snippet":"An entity shall recognize liabilities in accordance with the recognition provisions of other Topics that otherwise would apply to those liabilities, including paragraph 405-20-40-1.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:969734df2547bb6b596b31b62d82528c05af224bf7facf3f6719839795e7243a","downloaded_from":"2026-09-09T22:53:46.857Z","last_downloaded_at":"2026-09-09T22:53:46.857Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480034","source_sha256":"7a59e528dec7ab4dde8a4ee7651e2f407d76eedbb4b7c61d6f7b2c83116bade0"}},{"citation":"205-30-25-6","para":"25-6","html":"
An entity shall accrue estimated costs to dispose of assets or other items that it expects to sell in liquidation and present those costs in the aggregate separately from those assets or items.
","snippet":"An entity shall accrue estimated costs to dispose of assets or other items that it expects to sell in liquidation and present those costs in the aggregate separately from those assets or items.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6e7b217d478049d96c29bf3d9e63f0ccc73c3c73098dcd001c1569a6e8ea74c3","downloaded_from":"2026-09-09T22:53:46.857Z","last_downloaded_at":"2026-09-09T22:53:46.857Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480034","source_sha256":"7a59e528dec7ab4dde8a4ee7651e2f407d76eedbb4b7c61d6f7b2c83116bade0"}},{"citation":"205-30-25-7","para":"25-7","html":"
An entity shall accrue costs and income that it expects to incur or earn (for example, payroll costs or income from preexisting orders that the entity expects to fulfill during liquidation) through the end of its liquidation if and when it has a reasonable basis for estimation.
","snippet":"An entity shall accrue costs and income that it expects to incur or earn (for example, payroll costs or income from preexisting orders that the entity expects to fulfill during liquidation) through the end of its liquida…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bdc9b9025c27d98bcd79dd5288f8f7eb453df64a259693a5ffd0704c6fab7be8","downloaded_from":"2026-09-09T22:53:46.857Z","last_downloaded_at":"2026-09-09T22:53:46.857Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480034","source_sha256":"7a59e528dec7ab4dde8a4ee7651e2f407d76eedbb4b7c61d6f7b2c83116bade0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c11bacbea25b2e8b303ee6565c00eb74335e5ee799537930359afab36614953e","downloaded_from":"2026-09-09T22:53:46.857Z","last_downloaded_at":"2026-09-09T22:53:46.857Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480034","source_sha256":"7a59e528dec7ab4dde8a4ee7651e2f407d76eedbb4b7c61d6f7b2c83116bade0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa9b2a033f0d52a444a67d7b8b83b45d75fdf931e95f9a068ef1c3d25ecf1075","downloaded_from":"2026-09-09T22:53:46.857Z","last_downloaded_at":"2026-09-09T22:53:46.857Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480034","source_sha256":"7a59e528dec7ab4dde8a4ee7651e2f407d76eedbb4b7c61d6f7b2c83116bade0"}},{"number":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-30-30-1","para":"30-1","html":"
An entity shall measure assets to reflect the estimated amount of cash or other consideration that it expects to collect in settling or disposing of those assets in carrying out its plan for liquidation. In some cases, fair value may approximate the amount that an entity expects to collect. However, an entity shall not presume this to be true for all assets.
","snippet":"An entity shall measure assets to reflect the estimated amount of cash or other consideration that it expects to collect in settling or disposing of those assets in carrying out its plan for liquidation. In some cases, f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b1e7b585e61f15435b99443205c2df253a35559a1c6e7bf45478ad8a86371e5e","downloaded_from":"2026-09-09T22:53:49.289Z","last_downloaded_at":"2026-09-09T22:53:49.289Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480002","source_sha256":"ffcc824e8e5554679595e4e9bff89581560abce8805d509ba35dd86ea739ffc9"}},{"citation":"205-30-30-2","para":"30-2","html":"
An entity shall measure liabilities in accordance with the measurement provisions of other Topics that otherwise would apply to those liabilities (excluding the accrual of estimated disposal costs as described in paragraph 205-30-25-6 and expected income and expenses as described in paragraph 205-30-25-7). In applying those other Topics, an entity shall adjust its liabilities to reflect changes in assumptions that are a result of the entity's decision to liquidate (for example, timing of payments). However, an entity shall not anticipate being legally released from being the primary obligor under a liability, either judicially or by the creditor.
","snippet":"An entity shall measure liabilities in accordance with the measurement provisions of other Topics that otherwise would apply to those liabilities (excluding the accrual of estimated disposal costs as described in paragra…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:89caac955b172096253727c18280eb37695d646e7ef85a2f736d3afcd3a5649b","downloaded_from":"2026-09-09T22:53:49.289Z","last_downloaded_at":"2026-09-09T22:53:49.289Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480002","source_sha256":"ffcc824e8e5554679595e4e9bff89581560abce8805d509ba35dd86ea739ffc9"}},{"citation":"205-30-30-3","para":"30-3","html":"
An entity shall not apply discounting provisions in measuring the accruals for estimated disposal costs in accordance with paragraph 205-30-25-6 and expected income and expenses in accordance with paragraph 205-30-25-7.
","snippet":"An entity shall not apply discounting provisions in measuring the accruals for estimated disposal costs in accordance with paragraph 205-30-25-6 and expected income and expenses in accordance with paragraph 205-30-25-7.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3f271a22d84270f577b00625ec67e59476d55e16dc14d9db378e38933d19b56c","downloaded_from":"2026-09-09T22:53:49.289Z","last_downloaded_at":"2026-09-09T22:53:49.289Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480002","source_sha256":"ffcc824e8e5554679595e4e9bff89581560abce8805d509ba35dd86ea739ffc9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:814adebc2e795363fb1cefb8228478f62445bef8ebeb32e2475da2fe2d467f44","downloaded_from":"2026-09-09T22:53:49.289Z","last_downloaded_at":"2026-09-09T22:53:49.289Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480002","source_sha256":"ffcc824e8e5554679595e4e9bff89581560abce8805d509ba35dd86ea739ffc9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e24086e1610f27229221146729dfa8f97281ba2154df43a4a965779c58e2ac5b","downloaded_from":"2026-09-09T22:53:49.289Z","last_downloaded_at":"2026-09-09T22:53:49.289Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480002","source_sha256":"ffcc824e8e5554679595e4e9bff89581560abce8805d509ba35dd86ea739ffc9"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-30-35-1","para":"35-1","html":"
At each reporting date, an entity shall remeasure its assets and other items it expects to sell that it had not previously recognized (for example, trademarks), liabilities (if required under the relevant Topic for those liabilities), and the accruals of disposal or other costs or income to reflect the actual or estimated change in carrying value since the previous reporting date in accordance with paragraphs
205-30-30-1 through 30-3
.
","snippet":"At each reporting date, an entity shall remeasure its assets and other items it expects to sell that it had not previously recognized (for example, trademarks), liabilities (if required under the relevant Topic for those…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6bdd0923f4c3d484dc669a52f0d46bb2e2bdeea10de3eefbed9dce90ffc8644f","downloaded_from":"2026-09-09T22:53:51.962Z","last_downloaded_at":"2026-09-09T22:53:51.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479971","source_sha256":"00bdb31a855ee39e59262fb5e2c33fca4389114b15e33d2e0d1c56d880a9d22c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ea993a619eec79a5769ffc98653993a089a18a6d2a5ed55b675fd3125a82f2f2","downloaded_from":"2026-09-09T22:53:51.962Z","last_downloaded_at":"2026-09-09T22:53:51.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479971","source_sha256":"00bdb31a855ee39e59262fb5e2c33fca4389114b15e33d2e0d1c56d880a9d22c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b4b203761e36b8dfa3d3364bae12ca0f9a7ac99944c3bb56e921be90c4ff21d0","downloaded_from":"2026-09-09T22:53:51.962Z","last_downloaded_at":"2026-09-09T22:53:51.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479971","source_sha256":"00bdb31a855ee39e59262fb5e2c33fca4389114b15e33d2e0d1c56d880a9d22c"}},{"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":"
At a minimum, an entity that applies the liquidation basis of accounting shall prepare the following:
  1. a
    A statement of net assets in liquidation
  2. b
    A statement of changes in net assets in liquidation.
","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":"
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.
","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"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-30-50-1","para":"50-1","html":"
An entity shall make all disclosures required by other Topics that are relevant to understanding the entity's statement of net assets in liquidation and statement of changes in net assets in liquidation. The disclosures shall convey information about the amount of cash or other consideration that an entity expects to collect and the amount that the entity is obligated or expects to be obligated (in the case of the accruals described in paragraphs
205-30-25-6 through 25-7
) to pay during the course of liquidation.
","snippet":"An entity shall make all disclosures required by other Topics that are relevant to understanding the entity's statement of net assets in liquidation and statement of changes in net assets in liquidation. The disclosures …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:153cd1a5504c5d1137812175715a18d5a5090561a3ec1bcef84c56c97e07e112","downloaded_from":"2026-09-09T22:53:56.717Z","last_downloaded_at":"2026-09-09T22:53:56.717Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479910","source_sha256":"acf565901ba9ded0ac95a25b1db55db25f99de4f8a9e0cd88423e4b2f525b68b"}},{"citation":"205-30-50-2","para":"50-2","html":"
At a minimum, an entity shall disclose all of the following when it prepares financial statements using the liquidation basis of accounting:
  1. a
    That the financial statements are prepared using the liquidation basis of accounting, including the facts and circumstances surrounding the adoption of the liquidation basis of accounting and the entity's determination that liquidation is imminent.
  2. b
    A description of the entity's plan for liquidation, including a description of each of the following:
    1. 1
      The manner by which it expects to dispose of its assets and other items it expects to sell that it had not previously recognized as assets (for example, trademarks)
    2. 2
      The manner by which it expects to settle its liabilities
    3. 3
      The expected date by which the entity expects to complete its liquidation.
  3. c
    The methods and significant assumptions used to measure assets and liabilities, including any subsequent changes to those methods and assumptions.
  4. d
    The type and amount of costs and income accrued in the statement of net assets in liquidation and the period over which those costs are expected to be paid or income earned.
","snippet":"At a minimum, an entity shall disclose all of the following when it prepares financial statements using the liquidation basis of accounting:\n(a) That the financial statements are prepared using the liquidation basis of a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4c687c455adb43a8cbe91b82f04f9ff7ab953c0820f84c0396b1048969654da4","downloaded_from":"2026-09-09T22:53:56.717Z","last_downloaded_at":"2026-09-09T22:53:56.717Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479910","source_sha256":"acf565901ba9ded0ac95a25b1db55db25f99de4f8a9e0cd88423e4b2f525b68b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2a421ecf9f5e64d65d82eecf775a3fe8d2c107ec3a2546f8a3dec2f36755e2c4","downloaded_from":"2026-09-09T22:53:56.717Z","last_downloaded_at":"2026-09-09T22:53:56.717Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479910","source_sha256":"acf565901ba9ded0ac95a25b1db55db25f99de4f8a9e0cd88423e4b2f525b68b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e376bcf208f6bccc7042c11f568e23b8f6b334f3bd766ca0b466153e4f980738","downloaded_from":"2026-09-09T22:53:56.717Z","last_downloaded_at":"2026-09-09T22:53:56.717Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479910","source_sha256":"acf565901ba9ded0ac95a25b1db55db25f99de4f8a9e0cd88423e4b2f525b68b"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"205-30-55-1","para":"55-1","html":"
The following Examples illustrate how an entity would determine when it should apply the liquidation basis of accounting. The Examples are not intended to capture every scenario under which an entity might have to apply the liquidation basis of accounting.
","snippet":"The following Examples illustrate how an entity would determine when it should apply the liquidation basis of accounting. The Examples are not intended to capture every scenario under which an entity might have to apply …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:457d38d8ea2cacb1d7f2098d4ec6f2ae88113f907212e0535bfaf62e1b79fe5b","downloaded_from":"2026-09-09T22:54:00.858Z","last_downloaded_at":"2026-09-09T22:54:00.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479880","source_sha256":"b284982853101494021fde9221ded27d6af6e15d70dff13d15ead16bc602309d"}},{"citation":"205-30-55-2","para":"55-2","html":"
Entity A is a manufacturer of goods. In 20X3, Entity A began experiencing financial difficulty because of declining market demand for its goods. On September 19, 20X3, Entity A's board of directors approved a plan for liquidation. The board of directors had the authority to make the plan effective. There were no other parties that could block the execution of the plan, and the likelihood that the entity would return from liquidation was remote. Entity A should begin applying the liquidation basis of accounting as of September 19, 20X3, which is the date that Entity A's board of directors approved the plan for liquidation.
","snippet":"Entity A is a manufacturer of goods. In 20X3, Entity A began experiencing financial difficulty because of declining market demand for its goods. On September 19, 20X3, Entity A's board of directors approved a plan for li…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a403db9b83a8a509756117f4358dd47b55a1cebee8fe7a8c3b376711603b32ce","downloaded_from":"2026-09-09T22:54:00.858Z","last_downloaded_at":"2026-09-09T22:54:00.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479880","source_sha256":"b284982853101494021fde9221ded27d6af6e15d70dff13d15ead16bc602309d"}},{"citation":"205-30-55-3","para":"55-3","html":"
The governing documents from Entity B's inception specified that its contractual life would end in Year 10. On March 11 of Year 6, Entity B's board of directors determined that the entity would not be able to meet its debt obligations and voted to begin liquidating the entity earlier than planned. Entity B required approval from Entity C, a third party, to make its plan of liquidation effective. Entity B obtained approval from Entity C on April 10 of Year 6. No other parties could block the execution of the plan of liquidation, and the likelihood that Entity B would return from liquidation was remote. Under the plan of liquidation, Entity B anticipated that it would not have sufficient time to sell its assets in exchange for consideration that would approximate the fair value of those assets. Entity B should begin preparing its financial statements using the liquidation basis of accounting as of April 10 of Year 6, which is the date that the entity had obtained all of the approvals required to make its plan of liquidation effective.
","snippet":"The governing documents from Entity B's inception specified that its contractual life would end in Year 10. On March 11 of Year 6, Entity B's board of directors determined that the entity would not be able to meet its de…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5d72938fcd62e896c4ab4ea3db998ffcce43ad42ddce7fd69a339e4ff5d04944","downloaded_from":"2026-09-09T22:54:00.858Z","last_downloaded_at":"2026-09-09T22:54:00.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479880","source_sha256":"b284982853101494021fde9221ded27d6af6e15d70dff13d15ead16bc602309d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0ddb682491edb12766b70e611105bb26eb6d85adac73ff646fb3abf1707337b7","downloaded_from":"2026-09-09T22:54:00.858Z","last_downloaded_at":"2026-09-09T22:54:00.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479880","source_sha256":"b284982853101494021fde9221ded27d6af6e15d70dff13d15ead16bc602309d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:12b526317ad2249054ca7dc4e4177020cdf25b065e3866a4ae58294dfeb07c52","downloaded_from":"2026-09-09T22:54:00.858Z","last_downloaded_at":"2026-09-09T22:54:00.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479880","source_sha256":"b284982853101494021fde9221ded27d6af6e15d70dff13d15ead16bc602309d"}},{"number":"65","label":"65 Transition and Open Effective Date Information","anchor":"65-transition-and-open-effective-date-information","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-30-65-1","para":"65-1","html":"
Paragraph superseded on 01/05/2016 after the end of the transition period stated in Accounting Standards Update No. 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting.
","snippet":"Paragraph superseded on 01/05/2016 after the end of the transition period stated in Accounting Standards Update No. 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e9bbf5cc0a59e1be540e356d74e19e7c6fe1dbee9e65f4acb64f0c4d34fab42f","downloaded_from":"2026-09-09T22:54:04.327Z","last_downloaded_at":"2026-09-09T22:54:04.327Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479856","source_sha256":"80063d8c15ae0e70749fb66ea620783bcaa678b9790d78aa3aa735256aaaf21c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:10c0f9f94fca6d33760872d42e3a2f5bac932b5814c53b1de22b304ae3db201b","downloaded_from":"2026-09-09T22:54:04.327Z","last_downloaded_at":"2026-09-09T22:54:04.327Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479856","source_sha256":"80063d8c15ae0e70749fb66ea620783bcaa678b9790d78aa3aa735256aaaf21c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:82d70dc43bfcd7ef111472ae45858804c76ed841a364cd5ca14b2fbf954b8eee","downloaded_from":"2026-09-09T22:54:04.327Z","last_downloaded_at":"2026-09-09T22:54:04.327Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479856","source_sha256":"80063d8c15ae0e70749fb66ea620783bcaa678b9790d78aa3aa735256aaaf21c"}}],"enrichment":{"summary":"ASC 205-30 tells an entity when it must abandon going-concern accounting and switch to the liquidation basis, how to measure assets and liabilities under that basis, and what to disclose. The trigger is that liquidation is \"imminent\" (205-30-25-1 and 25-2), unless the liquidation follows a plan specified in the entity's governing documents at inception. Under the liquidation basis, assets are measured at the estimated cash or other consideration expected to be collected, previously unrecognized items such as trademarks are recognized, expected disposal costs and income/expenses through the end of liquidation are accrued (undiscounted), and the entity presents a statement of net assets in liquidation and a statement of changes in net assets in liquidation.","key_points":["Liquidation basis is required when liquidation is imminent, unless the liquidation follows a plan for liquidation specified in the entity's governing documents at inception (205-30-25-1); investment companies regulated under the Investment Company Act of 1940 are scoped out and the exception may not be applied by analogy (205-30-15-1).","Liquidation is imminent when a plan is approved by those with authority to make it effective and the likelihood is remote both that other parties will block it and that the entity will return from liquidation, or when a plan is imposed by other forces such as involuntary bankruptcy and return from liquidation is remote (205-30-25-2).","An inception-specified plan is presumed not to be followed if the entity is forced to dispose of assets for consideration not commensurate with fair value; other deviations matter only to the extent they affect whether consideration is commensurate with fair value (205-30-25-3).","Assets are measured at the estimated amount of cash or other consideration expected to be collected in settling or disposing of them, which cannot be presumed to equal fair value for all assets (205-30-30-1), and previously unrecognized items expected to be sold or used to settle liabilities (e.g., trademarks) are recognized, possibly in the aggregate (205-30-25-4).","Liabilities continue to be recognized and measured under other applicable Topics (including 405-20-40-1), adjusted for changed assumptions such as payment timing, but the entity shall not anticipate being legally released as primary obligor (205-30-25-5; 205-30-30-2).","Estimated disposal costs are accrued and presented in the aggregate separately from the related assets, and expected costs and income through the end of liquidation are accrued when reasonably estimable; neither accrual is discounted (205-30-25-6; 25-7; 205-30-30-3), and all amounts are remeasured at each reporting date (205-30-35-1).","The entity must present at a minimum a statement of net assets in liquidation and a statement of changes in net assets in liquidation, applied prospectively from the day liquidation became imminent (205-30-45-1; 45-2), and disclose the basis and circumstances of adoption, the liquidation plan and expected completion date, measurement methods and significant assumptions, and accrued costs and income (205-30-50-2)."],"categories":["Presentation","Financial statement presentation","Subsequent measurement","Disclosure"],"audience_level":"intermediate","student_note":"This is the one place in GAAP where the going-concern measurement model is replaced wholesale, so exams focus on the \"imminent\" trigger and the two required statements. Common misunderstandings: assuming liquidation-basis asset amounts equal fair value (they are expected collectible consideration, which may differ), forgetting that liabilities still follow their own Topics and cannot be reduced for anticipated legal release, and discounting the disposal-cost and expected income accruals.","related_topics":["205-40","405-20","820","852","360"],"key_concepts":["liquidation basis of accounting","liquidation is imminent","plan for liquidation","statement of net assets in liquidation","statement of changes in net assets in liquidation","expected collectible consideration","accrued disposal costs","previously unrecognized 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retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eed3e976f780674de35cdee4e7db643b0fe4582bc54ec0b8a90fb63abb0bfdcd","downloaded_from":"2026-09-09T22:53:35.692Z","last_downloaded_at":"2026-09-09T22:54:07.641Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"205-40","topic":"205","title":"Going Concern","area":"Presentation","paragraphs":23,"summary":"ASC 205-40 requires management of every entity, in connection with preparing annual and interim financial statements, to evaluate whether conditions and events considered in the aggregate raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued (or are available to be issued). Substantial doubt exists when it is probable the entity will be unable to meet its obligations as they become due in that lookforward period, assessed initially without regard to unimplemented management plans. Depending on whether management's plans alleviate that doubt, prescribed note disclosures — including an express \"substantial doubt\" statement when doubt is not alleviated — are required.","concepts":["going concern basis of accounting","substantial doubt","one year after issuance date","probable","management's plans","known and reasonably knowable","liquidation basis of accounting","note disclosure"],"categories":["Disclosure","Presentation","Financial statement presentation"],"level":"introductory","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-40-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
Financial Statements Are Available to Be IssuedAddedAccounting Standards Update No. 2014-1508/27/2014
Financial Statements Are IssuedAddedAccounting Standards Update No. 2014-1508/27/2014
LiquidationAddedAccounting Standards Update No. 2014-1508/27/2014
Probable (2nd def)AddedAccounting Standards Update No. 2014-1508/27/2014
Substantial Doubt about an Entity's Ability to Continue as a Going ConcernAddedAccounting Standards Update No. 2014-1508/27/2014
205-40-05-1 through 05-3
AddedAccounting Standards Update No. 2014-1508/27/2014
205-40-05-3AmendedMaintenance Update 2016-11 (PDF)06/27/2016
205-40-15-1AddedAccounting Standards Update No. 2014-1508/27/2014
205-40-50-1 through 50-14
AddedAccounting Standards Update No. 2014-1508/27/2014
205-40-50-12 through 50-14
AmendedAccounting Standards Update No. 2025-1112/08/2025
205-40-50-12AmendedMaintenance Update 2016-11 (PDF)06/27/2016
205-40-50-13AmendedMaintenance Update 2016-11 (PDF)06/27/2016
205-40-55-1AmendedMaintenance Update 2016-11 (PDF)06/27/2016
205-40-55-1 through 55-3
AddedAccounting Standards Update No. 2014-1508/27/2014
205-40-55-3AddedAccounting Standards Update No. 2016-0202/25/2016
205-40-65-1AddedAccounting Standards Update No. 2014-1508/27/2014
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nFinancial Statements Are Available to Be Issued | Added | Accounting Standards Update No…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:12a2083f91e474572cb68521658426f78d237fdf44c4f0808e4e58f2ebafd8c7","downloaded_from":"2026-09-09T22:54:09.829Z","last_downloaded_at":"2026-09-09T22:54:09.829Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479833","source_sha256":"1b59dbb19b2dcd1f83cb465424ed7636bd8caf325cd662121946264f619cb818"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:719ecc97de4e2a8f2279ecf3eb042f71f937ec91a2f15f7a880ceceb083ef4db","downloaded_from":"2026-09-09T22:54:09.829Z","last_downloaded_at":"2026-09-09T22:54:09.829Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479833","source_sha256":"1b59dbb19b2dcd1f83cb465424ed7636bd8caf325cd662121946264f619cb818"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b5193c16b48ebb9ac8b017c6cebde1216197fbd01e6ae0a3be5a7fe969247ae5","downloaded_from":"2026-09-09T22:54:09.829Z","last_downloaded_at":"2026-09-09T22:54:09.829Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479833","source_sha256":"1b59dbb19b2dcd1f83cb465424ed7636bd8caf325cd662121946264f619cb818"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-40-05-1","para":"05-1","html":"
Continuation of an entity as a going concern is presumed as the basis for financial reporting unless and until the entity's liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity's liquidation becomes imminent, financial statements are prepared under the liquidation basis of accounting in accordance with Subtopic 205-30 on the liquidation basis of accounting.
","snippet":"Continuation of an entity as a going concern is presumed as the basis for financial reporting unless and until the entity's liquidation becomes imminent. Preparation of financial statements under this presumption is comm…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0119c7c64ee45b3df79a5199fa8d20127ef93b217b0efa4fa5d0db23a91d4f14","downloaded_from":"2026-09-09T22:54:11.724Z","last_downloaded_at":"2026-09-09T22:54:11.724Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479801","source_sha256":"02d3d43f9f0fb3dfd3d43c097a8ae37d55c3f0e1682cc2af0c127ac484af886f"}},{"citation":"205-40-05-2","para":"05-2","html":"
Even if an entity's liquidation is not imminent, there may be conditions and events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern. In those situations, financial statements continue to be prepared under the going concern basis of accounting, but the guidance in this Subtopic should be followed to determine whether to disclose information about the relevant conditions or events.
","snippet":"Even if an entity's liquidation is not imminent, there may be conditions and events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern. In those situation…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bd71d58be5f909ec8f526281056579a56ddba5b28be7c224864807bd36303e04","downloaded_from":"2026-09-09T22:54:11.724Z","last_downloaded_at":"2026-09-09T22:54:11.724Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479801","source_sha256":"02d3d43f9f0fb3dfd3d43c097a8ae37d55c3f0e1682cc2af0c127ac484af886f"}},{"citation":"205-40-05-3","para":"05-3","html":"
This Subtopic provides guidance for evaluating whether there is substantial doubt about an entity's ability to continue as a going concern and about related note disclosures.
","snippet":"This Subtopic provides guidance for evaluating whether there is substantial doubt about an entity's ability to continue as a going concern and about related note disclosures.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c2b0054cb276974f613973122549f611e862fb31f11277eabbe7717ed3d2c4c8","downloaded_from":"2026-09-09T22:54:11.724Z","last_downloaded_at":"2026-09-09T22:54:11.724Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479801","source_sha256":"02d3d43f9f0fb3dfd3d43c097a8ae37d55c3f0e1682cc2af0c127ac484af886f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bf901ced843dfc396ad12c78554919df34e77b7253af8b700b1c88b8ad7f6c40","downloaded_from":"2026-09-09T22:54:11.724Z","last_downloaded_at":"2026-09-09T22:54:11.724Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479801","source_sha256":"02d3d43f9f0fb3dfd3d43c097a8ae37d55c3f0e1682cc2af0c127ac484af886f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:441eb68fbcb4a60340590413af8ab96fdc05039784a4db2ba8c7a8b2b5d05c5e","downloaded_from":"2026-09-09T22:54:11.724Z","last_downloaded_at":"2026-09-09T22:54:11.724Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479801","source_sha256":"02d3d43f9f0fb3dfd3d43c097a8ae37d55c3f0e1682cc2af0c127ac484af886f"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Entities","paragraphs":[{"citation":"205-40-15-1","para":"15-1","html":"
The guidance in this Subtopic applies to all entities.
","snippet":"The guidance in this Subtopic applies to all entities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4bcf40b6299061bce9f6893ace641ac19516a806fbb0e778614d1dd7290d77f3","downloaded_from":"2026-09-09T22:54:15.563Z","last_downloaded_at":"2026-09-09T22:54:15.563Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479770","source_sha256":"25ee18f44ce35b3a2c8a1a7318a6b152988aabebcb0099b56b98572448a7fd0f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:602c6e37fa89d9905e1c27f2e89df82d6a2945e0f195a85829fb601c71a3c53b","downloaded_from":"2026-09-09T22:54:15.563Z","last_downloaded_at":"2026-09-09T22:54:15.563Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479770","source_sha256":"25ee18f44ce35b3a2c8a1a7318a6b152988aabebcb0099b56b98572448a7fd0f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a6da67a1bd9315d86cfe8d56a5a46080f00271a35597ca8078aa6b6eb009b62f","downloaded_from":"2026-09-09T22:54:15.563Z","last_downloaded_at":"2026-09-09T22:54:15.563Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479770","source_sha256":"25ee18f44ce35b3a2c8a1a7318a6b152988aabebcb0099b56b98572448a7fd0f"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Evaluating Conditions and Events That May Raise Substantial Doubt","paragraphs":[{"citation":"205-40-50-1","para":"50-1","html":"
In connection with preparing financial statements for each annual and interim reporting period, an entity's management shall evaluate whether there are conditions and events, considered in the aggregate, that raise substantial doubt about an entity's ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable).
","snippet":"In connection with preparing financial statements for each annual and interim reporting period, an entity's management shall evaluate whether there are conditions and events, considered in the aggregate, that raise subst…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f43347fe5b090a769ba2d080f5693fb76644db7b876a557a09b9aef7e5226385","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-2","para":"50-2","html":"
Ordinarily, conditions or events that raise substantial doubt about an entity's ability to continue as a going concern relate to the entity's ability to meet its obligations as they become due. Accordingly, management's evaluation of an entity's ability to continue as a going concern ordinarily is based on conditions and events that are relevant to an entity's ability to meet its obligations as they become due within one year after the date that the financial statements are issued.
","snippet":"Ordinarily, conditions or events that raise substantial doubt about an entity's ability to continue as a going concern relate to the entity's ability to meet its obligations as they become due. Accordingly, management's …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1c6dc7255065e5df922c5dbb689723bc9eedcf42b7cd1b667694ec2e89a312e3","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-3","para":"50-3","html":"
Management's evaluation shall be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued.
","snippet":"Management's evaluation shall be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9178cafbd827399ba89679ab9df69d4ef3b98aee4aa45e0026e1fcb8ebf8bfc7","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-4","para":"50-4","html":"
Management shall evaluate whether relevant conditions and events, considered in the aggregate, indicate that it is probable that an entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. The evaluation initially shall not take into consideration the potential mitigating effect of management's plans that have not been fully implemented as of the date that the financial statements are issued (for example, plans to raise capital, borrow money, restructure debt, or dispose of an asset that have been approved but that have not been fully implemented as of the date that the financial statements are issued).
","snippet":"Management shall evaluate whether relevant conditions and events, considered in the aggregate, indicate that it is probable that an entity will be unable to meet its obligations as they become due within one year after t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5520e5d7b39df8b70ee6caef038bc114144f045704e313d3be801ce2c1c4efd1","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-5","para":"50-5","html":"
When evaluating an entity's ability to meet its obligations, management shall consider quantitative and qualitative information about the following conditions and events, among other relevant conditions and events known and reasonably knowable at the date that the financial statements are issued:
  1. a
    The entity's current financial condition, including its liquidity sources at the date that the financial statements are issued (for example, available liquid funds and available access to credit)
  2. b
    The entity's conditional and unconditional obligations due or anticipated within one year after the date that the financial statements are issued (regardless of whether those obligations are recognized in the entity's financial statements)
  3. c
    The funds necessary to maintain the entity's operations considering its current financial condition, obligations, and other expected cash flows within one year after the date that the financial statements are issued
  4. d
    The other conditions and events, when considered in conjunction with (a), (b), and (c) above, that may adversely affect the entity's ability to meet its obligations within one year after the date that the financial statements are issued. See paragraph 205-40-55-2 for examples of those conditions and events.
","snippet":"When evaluating an entity's ability to meet its obligations, management shall consider quantitative and qualitative information about the following conditions and events, among other relevant conditions and events known …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b297520a9bd666296dd3e200c6044d00a884eca2b00e143ec3f69de389726d7","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5841b6ab68efeb2bef761eea00d3641ceca41cc9677fd30d634f4ff6d8429cd9","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"block":null,"heading":"Consideration of Management's Plans When Substantial Doubt Is Raised","paragraphs":[{"citation":"205-40-50-6","para":"50-6","html":"
When relevant conditions or events, considered in the aggregate, initially indicate that it is probable that an entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (and therefore they raise substantial doubt about the entity's ability to continue as a going concern), management shall evaluate whether its plans that are intended to mitigate those conditions and events, when implemented, will alleviate substantial doubt about the entity's ability to continue as a going concern.
","snippet":"When relevant conditions or events, considered in the aggregate, initially indicate that it is probable that an entity will be unable to meet its obligations as they become due within one year after the date that the fin…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0d59e60218e6e2d6478705ca1101d48355cc02f62903247555870272c5a4aa79","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-7","para":"50-7","html":"
The mitigating effect of management's plans shall be considered in evaluating whether the substantial doubt is alleviated only to the extent that information available as of the date that the financial statements are issued indicates both of the following:
  1. a
    It is probable that management's plans will be effectively implemented within one year after the date that the financial statements are issued.
  2. b
    It is probable that management's plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued.
","snippet":"The mitigating effect of management's plans shall be considered in evaluating whether the substantial doubt is alleviated only to the extent that information available as of the date that the financial statements are iss…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a451f5efef9a0151a0370ed36676145719e6ce41bc6ab5efd0c5b9be3c90012d","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-8","para":"50-8","html":"
The evaluation of whether it is probable that management's plans will be effectively implemented within one year after the date that the financial statements are issued shall be based on the feasibility of implementation of management's plans in light of an entity's specific facts and circumstances. Generally, to be considered probable of being effectively implemented, management (or others with the appropriate authority) must have approved the plan before the date that the financial statements are issued. Paragraph 205-40-55-3 provides examples of plans that management may implement and information that management should consider for each plan in evaluating the feasibility of the plans.
","snippet":"The evaluation of whether it is probable that management's plans will be effectively implemented within one year after the date that the financial statements are issued shall be based on the feasibility of implementation…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f0dd2dbe1fc8ede9783f39862e20e38ecc629108a7f1e521fe22b289dfeb252c","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-9","para":"50-9","html":"
The mitigating effect of management's plans that are not probable of being effectively implemented within one year after the date that the financial statements are issued shall not be considered in evaluating whether substantial doubt about an entity's ability to continue as a going concern is alleviated.
","snippet":"The mitigating effect of management's plans that are not probable of being effectively implemented within one year after the date that the financial statements are issued shall not be considered in evaluating whether sub…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b87729fd1e74614999c19fa9b766841e47acafe62d22752f27f46def1d418425","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-10","para":"50-10","html":"
As required in paragraph 205-40-50-7, management shall further assess its plans that are probable of being effectively implemented to determine whether it is probable that those plans will mitigate the conditions or events that raise substantial doubt about an entity's ability to continue as a going concern. In this assessment, management shall consider the expected magnitude and timing of the mitigating effect of its plans in relation to the magnitude and timing of the relevant conditions or events that those plans intend to mitigate.
","snippet":"As required in paragraph 205-40-50-7, management shall further assess its plans that are probable of being effectively implemented to determine whether it is probable that those plans will mitigate the conditions or even…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad7c8121df7d516d4d6d4e53ffbc75f4c14d5f34ed56c53688eed775b080b697","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-11","para":"50-11","html":"
A plan to meet an entity's obligations as they become due through liquidation (as defined in Subtopic 205-30 on the liquidation basis of accounting) shall not be considered as part of management's plans in evaluating whether substantial doubt is alleviated even if liquidation is probable of occurring.
","snippet":"A plan to meet an entity's obligations as they become due through liquidation (as defined in Subtopic 205-30 on the liquidation basis of accounting) shall not be considered as part of management's plans in evaluating whe…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2b3cc8089b01e21a9e6893606ffdd997bc2e47a2d93e5af5e9de7c55b04aa14e","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2be0250db0f8d9fe99742962bd76118eaee3b119cf2218d20f64a832cc8c514a","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"block":null,"heading":"Disclosures When Substantial Doubt Is Raised but Is Alleviated by Management's Plans (Substantial Doubt Does Not Exist)","paragraphs":[{"citation":"205-40-50-12","para":"50-12","html":"
If, after considering management's plans, substantial doubt about an entity's ability to continue as a going concern is alleviated as a result of consideration of management's plans, an entity shall disclose in the notes to financial statements information that enables users of the financial statements to understand all of the following (or refer to similar information disclosed elsewhere in the notes):
  1. a
    Principal conditions or events that raised substantial doubt about the entity's ability to continue as a going concern (before consideration of management's plans)
  2. b
    Management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations
  3. c
    Management's plans that alleviated substantial doubt about the entity's ability to continue as a going concern.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1If, after considering management's plans, substantial doubt about an entity's ability to continue as a going concern is alleviated as a result of consideration of management's plans, an entity shall disclose in the notes to interim and annual financial statements information that enables users of the financial statements to understand all of the following (or refer to similar information disclosed elsewhere in the notes):
  1. a
    Principal conditions or events that raised substantial doubt about the entity's ability to continue as a going concern (before consideration of management's plans)
  2. b
    Management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations
  3. c
    Management's plans that alleviated substantial doubt about the entity's ability to continue as a going concern.
","snippet":"If, after considering management's plans, substantial doubt about an entity's ability to continue as a going concern is alleviated as a result of consideration of management's plans, an entity shall disclose in the notes…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f77cb692b9d0bf7cd8f0ab8868a5f8287e343d57c9d970f32298d06c52806ded","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c6920f83980d2309e757eb5152fe666c2fef199b9e6e347e76ce81a1c00a2390","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"block":null,"heading":"Disclosures When Substantial Doubt Is Raised and Is Not Alleviated (Substantial Doubt Exists)","paragraphs":[{"citation":"205-40-50-13","para":"50-13","html":"
If, after considering management's plans, substantial doubt about an entity's ability to continue as a going concern is not alleviated, the entity shall include a statement in the notes to financial statements indicating that there is substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Additionally, the entity shall disclose information that enables users of the financial statements to understand all of the following:
  1. a
    Principal conditions or events that raise substantial doubt about the entity's ability to continue as a going concern
  2. b
    Management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations
  3. c
    Management's plans that are intended to mitigate the conditions or events that raise substantial doubt about the entity's ability to continue as a going concern.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1If, after considering management's plans, substantial doubt about an entity's ability to continue as a going concern is not alleviated, the entity shall include a statement in the notes to interim and annual financial statements indicating that there is substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Additionally, the entity shall disclose information that enables users of the financial statements to understand all of the following in interim and annual reporting periods:
  1. a
    Principal conditions or events that raise substantial doubt about the entity's ability to continue as a going concern
  2. b
    Management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations
  3. c
    Management's plans that are intended to mitigate the conditions or events that raise substantial doubt about the entity's ability to continue as a going concern.
","snippet":"If, after considering management's plans, substantial doubt about an entity's ability to continue as a going concern is not alleviated, the entity shall include a statement in the notes to financial statements indicating…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5208555443918988efe863e3faf98db94a771134c906e5bb080c1e98262a6569","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"citation":"205-40-50-14","para":"50-14","html":"
If conditions or events continue to raise substantial doubt about an entity's ability to continue as a going concern in subsequent annual or interim reporting periods, the entity shall continue to provide the required disclosures in paragraphs
205-40-50-12 through 50-13
in those subsequent periods. Disclosures should become more extensive as additional information becomes available about the relevant conditions or events and about management's plans. An entity shall provide appropriate context and continuity in explaining how conditions or events have changed between reporting periods. For the period in which substantial doubt no longer exists (before or after consideration of management's plans), an entity shall disclose how the relevant conditions or events that raised substantial doubt were resolved.
Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:
270-10-65-1If conditions or events continue to raise substantial doubt about an entity's ability to continue as a going concern in subsequent annual or interim reporting periods, the entity shall continue to provide the required disclosures in paragraphs
205-40-50-12 through 50-13
in those subsequent periods. Disclosures should become more extensive as additional information becomes available about the relevant conditions or events and about management's plans. An entity shall provide appropriate context and continuity in explaining how conditions or events have changed between reporting periods. For the period in which substantial doubt no longer exists (before or after consideration of management's plans), an entity shall disclose how the relevant conditions or events that raised substantial doubt were resolved. The disclosures in this paragraph are required in interim and annual reporting periods.
","snippet":"If conditions or events continue to raise substantial doubt about an entity's ability to continue as a going concern in subsequent annual or interim reporting periods, the entity shall continue to provide the required di…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac3d7f0c420cce0e726c82246451a9fd8889d13927c46aaf75a852d7f0051939","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d7d664b40a661dc045dfb823ee381b638ae88ef67c4cce2deba0e9fb682f382b","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:da932bcb4bbc3d155c29e54d5230897d67a8dee37c4d4af67412c366bca73772","downloaded_from":"2026-09-09T22:54:21.424Z","last_downloaded_at":"2026-09-09T22:54:21.424Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479710","source_sha256":"b5d7884c86cce265607449fe2b98470c578dc85d36230fe20b630cf70814a3ee"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Implementation Guidance","paragraphs":[{"citation":"205-40-55-1","para":"55-1","html":"
The following flowchart depicts the decision process to follow for evaluating whether there is substantial doubt about an entity's ability to continue as a going concern and determining related disclosure requirements.
","snippet":"The following flowchart depicts the decision process to follow for evaluating whether there is substantial doubt about an entity's ability to continue as a going concern and determining related disclosure requirements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:01f53bb76554b706ec70a1cce85c93a34b752f5bb633c570139ce1c49c458ccb","downloaded_from":"2026-09-09T22:54:23.248Z","last_downloaded_at":"2026-09-09T22:54:23.248Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479676","source_sha256":"f60c4730a46dae9cf5fa1e874b447b6edf76f3a6a872b0608087d75e1108c267"}},{"citation":"205-40-55-2","para":"55-2","html":"
The following are examples of adverse conditions and events that may raise substantial doubt about an entity's ability to continue as a going concern. The examples are not all-inclusive. The existence of one or more of these conditions or events does not determine that there is substantial doubt about an entity's ability to continue as a going concern. Similarly, the absence of those conditions or events does not determine that there is no substantial doubt about an entity's ability to continue as a going concern. Determining whether there is substantial doubt depends on an assessment of relevant conditions and events, in the aggregate, that are known and reasonably knowable at the date that the financial statements are issued (or at the date the financial statements are available to be issued when applicable). An entity should weigh the likelihood and magnitude of the potential effects of the relevant conditions and events, and consider their anticipated timing.
  1. a
    Negative financial trends, for example, recurring operating losses, working capital deficiencies, negative cash flows from operating activities, and other adverse key financial ratios
  2. b
    Other indications of possible financial difficulties, for example, default on loans or similar agreements, arrearages in dividends, denial of usual trade credit from suppliers, a need to restructure debt to avoid default, noncompliance with statutory capital requirements, and a need to seek new sources or methods of financing or to dispose of substantial assets
  3. c
    Internal matters, for example, work stoppages or other labor difficulties, substantial dependence on the success of a particular project, uneconomic long-term commitments, and a need to significantly revise operations
  4. d
    External matters, for example, legal proceedings, legislation, or similar matters that might jeopardize the entity's ability to operate; loss of a key franchise, license, or patent; loss of a principal customer or supplier; and an uninsured or underinsured catastrophe such as a hurricane, tornado, earthquake, or flood.
","snippet":"The following are examples of adverse conditions and events that may raise substantial doubt about an entity's ability to continue as a going concern. The examples are not all-inclusive. The existence of one or more of t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ab24eb4a3d0d349922ab31ac84f328e52ab94153dbe845f580d4e172f5e4ae6f","downloaded_from":"2026-09-09T22:54:23.248Z","last_downloaded_at":"2026-09-09T22:54:23.248Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479676","source_sha256":"f60c4730a46dae9cf5fa1e874b447b6edf76f3a6a872b0608087d75e1108c267"}},{"citation":"205-40-55-3","para":"55-3","html":"
The following are examples of plans that management may implement to mitigate conditions or events that raise substantial doubt about an entity's ability to continue as a going concern. The examples are not all-inclusive. Below each example is a list of the types of information that management should consider at the date that the financial statements are issued in evaluating the feasibility of the plans to determine whether it is probable that the plan will be effectively implemented within one year after the date that the financial statements are issued.
  1. a
    Plans to dispose of an asset or business:
    1. 1
      Restrictions on disposal of an asset or business, such as covenants that limit those transactions in loan or similar agreements, or encumbrances against the asset or business
    2. 2
      Marketability of the asset or business that management plans to sell
    3. 3
      Possible direct or indirect effects of disposal of the asset or business
  2. b
    Plans to borrow money or restructure debt:
    1. 1
      Availability and terms of new debt financing, or availability and terms of existing debt refinancing, such as term debt, lines of credit, or arrangements for factoring receivables or sale and leaseback of assets
    2. 2
      Existing or committed arrangements to restructure or subordinate debt or to guarantee loans to the entity
    3. 3
      Possible effects on management's borrowing plans of existing restrictions on additional borrowing or the sufficiency of available collateral
  3. c
    Plans to reduce or delay expenditures:
    1. 1
      Feasibility of plans to reduce overhead or administrative expenditures, to postpone maintenance or research and development projects, or to lease rather than purchase assets
    2. 2
      Possible direct or indirect effects on the entity and its cash flows of reduced or delayed expenditures
  4. d
    Plans to increase ownership equity:
    1. 1
      Feasibility of plans to increase ownership equity, including existing or committed arrangements to raise additional capital
    2. 2
      Existing or committed arrangements to reduce current dividend requirements or to accelerate cash infusions from affiliates or other investors.
","snippet":"The following are examples of plans that management may implement to mitigate conditions or events that raise substantial doubt about an entity's ability to continue as a going concern. The examples are not all-inclusive…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0d62a809111bc451f85767c777d9426c631f8f79de5721054260b53e5f556eef","downloaded_from":"2026-09-09T22:54:23.248Z","last_downloaded_at":"2026-09-09T22:54:23.248Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479676","source_sha256":"f60c4730a46dae9cf5fa1e874b447b6edf76f3a6a872b0608087d75e1108c267"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:21bdbf33beff650b49c674a7d16b2a88d00c79a12e92b08be0e61617e2b36d2e","downloaded_from":"2026-09-09T22:54:23.248Z","last_downloaded_at":"2026-09-09T22:54:23.248Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479676","source_sha256":"f60c4730a46dae9cf5fa1e874b447b6edf76f3a6a872b0608087d75e1108c267"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8814a193fe23fec38656795482cf9733d40327c2d4aa04106329f765a80adc2d","downloaded_from":"2026-09-09T22:54:23.248Z","last_downloaded_at":"2026-09-09T22:54:23.248Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479676","source_sha256":"f60c4730a46dae9cf5fa1e874b447b6edf76f3a6a872b0608087d75e1108c267"}},{"number":"65","label":"65 Transition Date and Open Effective Date Information","anchor":"65-transition-date-and-open-effective-date-information","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-40-65-1","para":"65-1","html":"
Paragraph superseded on 06/20/2018 after the end of the transition period stated in Accounting Standards Update No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern.
","snippet":"Paragraph superseded on 06/20/2018 after the end of the transition period stated in Accounting Standards Update No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainti…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7ce0ccf58dc0d9e1a4cd2ad3705eef155b7b12cc78063f282404007c6d574720","downloaded_from":"2026-09-09T22:54:26.646Z","last_downloaded_at":"2026-09-09T22:54:26.646Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479645","source_sha256":"93a023d99620b4b9c3ef533fb4341cb3d26370416169f1529fa0556450b9c907"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3383642d3e91b0bf2a0ddd0b0d8d998cce0a44d98d0280d1f323c47c4ff96ff2","downloaded_from":"2026-09-09T22:54:26.646Z","last_downloaded_at":"2026-09-09T22:54:26.646Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479645","source_sha256":"93a023d99620b4b9c3ef533fb4341cb3d26370416169f1529fa0556450b9c907"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:471eda4e65abcf85fd095283b0615a0048e7db8d260abbc675347495b2c03894","downloaded_from":"2026-09-09T22:54:26.646Z","last_downloaded_at":"2026-09-09T22:54:26.646Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479645","source_sha256":"93a023d99620b4b9c3ef533fb4341cb3d26370416169f1529fa0556450b9c907"}}],"enrichment":{"summary":"ASC 205-40 requires management of every entity, in connection with preparing annual and interim financial statements, to evaluate whether conditions and events considered in the aggregate raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued (or are available to be issued). Substantial doubt exists when it is probable the entity will be unable to meet its obligations as they become due in that lookforward period, assessed initially without regard to unimplemented management plans. Depending on whether management's plans alleviate that doubt, prescribed note disclosures — including an express \"substantial doubt\" statement when doubt is not alleviated — are required.","key_points":["The going concern basis of accounting is presumed unless and until liquidation becomes imminent, at which point the liquidation basis under Subtopic 205-30 applies (205-40-05-1).","Management must perform the going concern evaluation each annual and interim reporting period, using a one-year-after-issuance lookforward period and conditions known and reasonably knowable at the issuance date (205-40-50-1; 205-40-50-3).","Substantial doubt exists when relevant conditions and events, in the aggregate, indicate it is probable the entity will be unable to meet its obligations as they become due within one year after issuance; the initial evaluation excludes the mitigating effect of plans not fully implemented (205-40-50-4).","Management's plans may be considered in alleviating substantial doubt only if it is probable both that the plans will be effectively implemented and that, when implemented, they will mitigate the relevant conditions or events (205-40-50-7); approval of the plan before the issuance date is generally required (205-40-50-8).","A plan to meet obligations through liquidation cannot be considered in evaluating whether substantial doubt is alleviated, even if liquidation is probable (205-40-50-11).","If plans alleviate substantial doubt, disclose the principal conditions or events, management's evaluation of their significance, and the plans that alleviated the doubt (205-40-50-12); if doubt is not alleviated, additionally include an explicit statement that substantial doubt exists (205-40-50-13).","Disclosures continue and become more extensive in subsequent periods, with context and continuity, and in the period substantial doubt no longer exists the entity discloses how the conditions or events were resolved (205-40-50-14)."],"categories":["Disclosure","Presentation","Financial statement presentation"],"audience_level":"introductory","student_note":"Exam favorite: the assessment window runs one year from the date the financial statements are ISSUED (not the balance sheet date), and the threshold is \"probable,\" not \"reasonably possible.\" The most common mistake is netting management's unimplemented rescue plans into the initial assessment — plans are considered only in the second step, and only if both implementation and mitigation are probable.","related_topics":["205-30","270-10","855","450-20"],"key_concepts":["going concern basis of accounting","substantial doubt","one year after issuance date","probable","management's plans","known and reasonably knowable","liquidation basis of accounting","note 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Its scope mirrors that of ASC 905-10-15 (General and Cooperatives Subsections). Its only substantive presentation rule permits agricultural cooperatives to label earnings using alternative terms such as margins, net proceeds, or savings (205-905-45-1).","concepts":["agricultural cooperatives","financial statement presentation","earnings terminology","margins","net proceeds","savings","industry-specific guidance"],"categories":["Presentation","Industry-specific","Financial statement presentation"],"level":"introductory","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-905-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
Agricultural CooperativeAddedAccounting Standards Update No. 2014-0603/14/2014
CooperativesSupersededAccounting Standards Update No. 2014-0603/14/2014
Member of an Agricultural CooperativeAddedAccounting Standards Update No. 2014-0603/14/2014
Nonmember of an Agricultural CooperativeAddedAccounting Standards Update No. 2014-0603/14/2014
PatronsAddedAccounting Standards Update No. 2014-0603/14/2014
905-205-05-1AmendedAccounting Standards Update No. 2014-0603/14/2014
905-205-05-2AmendedAccounting Standards Update No. 2014-0603/14/2014
905-205-15-2AmendedAccounting Standards Update No. 2014-0603/14/2014
905-205-45-1AmendedAccounting Standards Update No. 2014-0603/14/2014
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nAgricultural Cooperative | Added | Accounting Standards Update No. 2014-06 | 03/14/2014 …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:380b11a43b5dba8a5f271cf9c3904db352ea848cc7fa4287b9375e5056285f2c","downloaded_from":"2026-09-09T22:54:31.391Z","last_downloaded_at":"2026-09-09T22:54:31.391Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477972","source_sha256":"41ec75e190f1847c869e5f67481284c79b9206b66c5ffe363cbbd40cb57e935f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9ac5961c8df2f6b024741d28cb03150ef6cc2342618494b6712e96ea78e1fd6d","downloaded_from":"2026-09-09T22:54:31.391Z","last_downloaded_at":"2026-09-09T22:54:31.391Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477972","source_sha256":"41ec75e190f1847c869e5f67481284c79b9206b66c5ffe363cbbd40cb57e935f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4214be23057cf070e74be728e8310f67a3da6e81a62f1359dd99526254d8286b","downloaded_from":"2026-09-09T22:54:31.391Z","last_downloaded_at":"2026-09-09T22:54:31.391Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477972","source_sha256":"41ec75e190f1847c869e5f67481284c79b9206b66c5ffe363cbbd40cb57e935f"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-905-05-1","para":"05-1","html":"
This Subtopic provides guidance for the presentation of financial statements for entities in the agricultural industry. The guidance for agricultural cooperatives is presented in the Cooperatives Subsections.
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The Cooperatives Subsections provide guidance for the presentation of financial statements for cooperatives in the agricultural industry.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the General Subsection of Section 905-10-15.
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The Cooperatives Subsections follow the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the Cooperatives Subsection of Section 905-10-15.
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Agricultural cooperatives may use other terms for earnings, such as margins, net proceeds, or savings.
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915-205-45-1 through 45-6
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Entities that would once have been development stage entities simply follow the ordinary presentation guidance in ASC 205 and elsewhere in GAAP.","key_points":["All content of this subtopic — overview (205-915-05-1), scope (205-915-15-1), and other presentation matters (205-915-45-1 through 45-6) — was superseded by Accounting Standards Update No. 2014-10.","As a result, there is no longer any requirement to label an entity as a development stage entity or to present inception-to-date cumulative amounts in the income statement, statement of cash flows, or statement of stockholders' equity.","Entities formerly within the development stage entity classification now apply the same presentation guidance as any other reporting entity under ASC 205 and related topics.","The subtopic is retained in the Codification only as a record of superseded paragraphs; citing it as authoritative support for current financial statements is incorrect.","Effective date and transition for the elimination of this guidance are governed by ASU 2014-10 rather than by any remaining text in 205-915."],"categories":["Presentation","Financial statement presentation","Transition and effective dates"],"audience_level":"introductory","student_note":"Exam trap: candidates still remember the old \"cumulative amounts since inception\" columns for development stage entities — ASU 2014-10 deleted that entire regime, so start-ups and pre-revenue companies now present financial statements like everyone else. The subtopic survives in the Codification only as superseded shells.","related_topics":["205","810","915","275"],"key_concepts":["development stage entity","superseded guidance","inception-to-date information","financial statement presentation","simplification of gaap"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:52b596656e5c33efc79504efa600f9d01a926cfbb9b8bc8fe6d22c9fa3ea8771","downloaded_from":"2026-09-09T22:54:43.054Z","last_downloaded_at":"2026-09-09T22:54:51.555Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"235-915","title":"Development Stage Entities","topic_title":"Notes to Financial 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established by retrieval timestamps"}},{"number":"225-915","title":"Development Stage Entities","topic_title":"Income Statement","score":0.9379,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bc79f26ba9def9187480ed6832f95843466961e3f34b5bd0b5c25b0261d104cc","downloaded_from":"2026-09-09T23:09:10.440Z","last_downloaded_at":"2026-09-09T23:09:21.836Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"215-915","title":"Development Stage Entities","topic_title":"Statement of Shareholder Equity","score":0.931,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e739d80e630a0b34eee5f949e9b31855c50b1072cba54ce58cdcf80995fb1960","downloaded_from":"2026-09-09T23:02:52.322Z","last_downloaded_at":"2026-09-09T23:03:05.401Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"230-915","title":"Development Stage Entities","topic_title":"Statement of Cash Flows","score":0.9209,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d4cf758a0914e9123d1e0f19bb0ea33db344a846570925267ed4cc6fbb0c12c0","downloaded_from":"2026-09-09T23:12:12.874Z","last_downloaded_at":"2026-09-09T23:12:23.520Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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Statements","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9e7873b4472f56d0f29fff426d89f7cab78687c6a9c0c2556b659e2df0b606f5","downloaded_from":"2026-09-09T22:54:54.562Z","last_downloaded_at":"2026-09-09T22:55:25.512Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c66371ec36f7aef3004b7da2053b61ca4ac21f8be614b13ac96721fdca2566b0","downloaded_from":"2026-09-09T22:54:43.054Z","last_downloaded_at":"2026-09-09T22:54:51.555Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"205-946","topic":"205","title":"Financial Services—Investment Companies","area":"Presentation","paragraphs":53,"summary":"This subtopic governs how investment companies present the statement of changes in net assets and financial highlights. The statement of changes in net assets must separately show operations (net investment income, realized gains/losses, change in unrealized appreciation), net equalization credits/debits, distributions to shareholders (with tax return of capital separate), and capital share transactions. Financial highlights—per-share data, expense and net investment income ratios, total return (or since-inception IRR for certain limited-life funds), and capital commitment data—must be presented as a separate schedule or in the notes for each class of common shares.","concepts":["statement of changes in net assets","financial highlights","expense ratio","net investment income ratio","total return","internal rate of return since inception","master-feeder structure","incentive allocation"],"categories":["Presentation","Disclosure","Financial statement presentation","Industry-specific"],"level":"advanced","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-946-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
946-205-45-1 Amended Accounting Standards Update No. 2016-19 12/14/2016
946-205-45-1 Amended Maintenance Update 2016-05 (PDF) 04/12/2016
946-205-45-3 Amended Maintenance Update 2018-12 (PDF) 09/10/2018
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n946-205-45-1 | Amended | Accounting Standards Update No. 2016-19 | 12/14/2016 |\n946-205-…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3d5b8bbfd0ff7cd8b5cd2926d20357d49dd402a4ed5e55034faade4e8f355603","downloaded_from":"2026-09-09T22:54:54.562Z","last_downloaded_at":"2026-09-09T22:54:54.562Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478387","source_sha256":"954a26bfd2969b96bbd233c3f3daebd1c133ce080bc06aadac58aec8f4b4b44b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa01eef89bad306f27f347cae0f0b290fe86864929bb33770e6efa496108cab6","downloaded_from":"2026-09-09T22:54:54.562Z","last_downloaded_at":"2026-09-09T22:54:54.562Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478387","source_sha256":"954a26bfd2969b96bbd233c3f3daebd1c133ce080bc06aadac58aec8f4b4b44b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d39778b52e77fd1811067194df3019535816dec7e5dbce66726ff647736dd52b","downloaded_from":"2026-09-09T22:54:54.562Z","last_downloaded_at":"2026-09-09T22:54:54.562Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478387","source_sha256":"954a26bfd2969b96bbd233c3f3daebd1c133ce080bc06aadac58aec8f4b4b44b"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-946-05-1","para":"05-1","html":"
This Subtopic addresses the presentation of financial statements for investment companies, including both of the following matters:
  1. a
    The statement of changes in net assets
  2. b
    Financial highlights.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 946-10-15.
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The overall objective of financial statements, including financial highlights, of investment companies is to present net assets, results of operations, changes in net assets, and financial highlights resulting from investment activities and, if applicable, from capital share transactions. In reporting to shareholders, investment companies and investment companies registered with the Securities and Exchange Commission (SEC) shall present financial statements and financial highlights as follows.
","snippet":"The overall objective of financial statements, including financial highlights, of investment companies is to present net assets, results of operations, changes in net assets, and financial highlights resulting from inves…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3aaf66c66774f89dc833a2e46a2c637db0646bbc14acae42b7800254e8964fef","downloaded_from":"2026-09-09T22:55:07.169Z","last_downloaded_at":"2026-09-09T22:55:07.169Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478009","source_sha256":"c43a9049cb1b3e98fd7e693fbdcbdbb2111a9237273b65296b36e2ca8d4399e6"}},{"citation":"205-946-45-2","para":"45-2","html":"
For investment companies not using unitized net asset value, financial highlights shall be presented and consist of net investment income and expense ratios and total return, or the internal rate of return since inception if applicable.
","snippet":"For investment companies not using unitized net asset value, financial highlights shall be presented and consist of net investment income and expense ratios and total return, or the internal rate of return since inceptio…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:21d069291d3057ba56d13a0658c22b6cad51298a33e046b98873dcca7b66728b","downloaded_from":"2026-09-09T22:55:07.169Z","last_downloaded_at":"2026-09-09T22:55:07.169Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478009","source_sha256":"c43a9049cb1b3e98fd7e693fbdcbdbb2111a9237273b65296b36e2ca8d4399e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e3fd110c15b0b7136736426933dcb80832bd325aec7b6347ee17838dd2cbebda","downloaded_from":"2026-09-09T22:55:07.169Z","last_downloaded_at":"2026-09-09T22:55:07.169Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478009","source_sha256":"c43a9049cb1b3e98fd7e693fbdcbdbb2111a9237273b65296b36e2ca8d4399e6"}},{"block":null,"heading":"Statement of Changes in Net Assets","paragraphs":[{"citation":"205-946-45-3","para":"45-3","html":"
The statement of changes in net assets summarizes results from operations, net equalization credits or debits, dividends and distributions to shareholders, capital share transactions, and capital contributions. The increase or decrease in net assets of a registered investment company comprises the following categories:
  1. a
    Operations. Net investment income or loss, net realized gains or losses from investments and foreign currency transactions, and changes in unrealized appreciation or depreciation on investments and translation of assets and liabilities in foreign currencies, as shown in the statement of operations, shall be presented separately to arrive at the net change in net assets resulting from operations.
  2. b
    Net equalization debits or credits. If equalization accounting is used, undistributed investment income included in the price of capital shares issued or reacquired shall be shown as a separate line item.
  3. c
    Distributions to shareholders. Distributions shall be disclosed as a single line item, except for tax return of capital distributions, which shall be presented separately. Distributions made by regulated investment companies often differ from aggregate undistributed net investment income (including net equalization credits or debits and undistributed net investment income) determined in accordance with generally accepted accounting principles (GAAP) and accumulated net realized gains (total net realized gains determined in accordance with GAAP). The principal cause is that required minimum fund distributions are based on income and gain amounts determined in accordance with federal income tax regulations, rather than GAAP. The differences created can be temporary, meaning that they will reverse in the future, or they can be permanent. If in a subsequent period all or a portion of a temporary difference becomes a permanent difference, the amount of the permanent difference shall be reclassified to paid-in capital.
","snippet":"The statement of changes in net assets summarizes results from operations, net equalization credits or debits, dividends and distributions to shareholders, capital share transactions, and capital contributions. The incre…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2924b1477079d4c6d962bda1720a346169aa86d2b30e74f69489a62616dfd058","downloaded_from":"2026-09-09T22:55:07.169Z","last_downloaded_at":"2026-09-09T22:55:07.169Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478009","source_sha256":"c43a9049cb1b3e98fd7e693fbdcbdbb2111a9237273b65296b36e2ca8d4399e6"}},{"citation":"205-946-45-4","para":"45-4","html":"
Management investment companies that have multiple classes of shares or master-feeder structures shall apply all of the following guidance with respect to the statement of changes in net assets:
  1. a
    Multiple class funds. Dividends and distributions paid to shareholders and capital share transactions for each class are required to be presented (or disclosed in the notes to financial statements).
  2. b
    Master-feeder funds:
    1. 1
      Master funds. The statement of changes in net assets of a master fund shall report capital transactions from or to feeder funds as contributions and withdrawals, respectively. Dividend distributions are normally not made by the master fund when the master fund is treated as a partnership for tax purposes. In those situations where the master fund is treated as a registered investment company and is taxed either as a corporation or trust, there may be distributions to the feeder funds to eliminate any accumulated taxable income at the master fund level.
    2. 2
      Feeder funds. For feeder funds, the standard reporting format for investment companies with simple capital structures is used. If the feeder fund is a multiple-class fund, the guidance for multiple-class funds in (a) and elsewhere in this Topic shall be followed.
","snippet":"Management investment companies that have multiple classes of shares or master-feeder structures shall apply all of the following guidance with respect to the statement of changes in net assets:\n(a) Multiple class funds.…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:513c1461de59fdc2c0ca81d18d306542906d63c3f064ac824a36a9b9b782a150","downloaded_from":"2026-09-09T22:55:07.169Z","last_downloaded_at":"2026-09-09T22:55:07.169Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478009","source_sha256":"c43a9049cb1b3e98fd7e693fbdcbdbb2111a9237273b65296b36e2ca8d4399e6"}},{"citation":"205-946-45-5","para":"45-5","html":"
For investment partnerships, the statement of changes in net assets may be combined with the statement of changes in partners' capital if the information in paragraph 946-205-45-3 is presented.
","snippet":"For investment partnerships, the statement of changes in net assets may be combined with the statement of changes in partners' capital if the information in paragraph 946-205-45-3 is presented.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:af1eba89ad14ab23703030a90829281fe51c5a299da425beaad90bb6dc21962f","downloaded_from":"2026-09-09T22:55:07.169Z","last_downloaded_at":"2026-09-09T22:55:07.169Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478009","source_sha256":"c43a9049cb1b3e98fd7e693fbdcbdbb2111a9237273b65296b36e2ca8d4399e6"}},{"citation":"205-946-45-6","para":"45-6","html":"
Nonpublic investment companies may present a complete set of master financial statements with each feeder financial statement, in a manner that is consistent with the requirements for public investment companies.
","snippet":"Nonpublic investment companies may present a complete set of master financial statements with each feeder financial statement, in a manner that is consistent with the requirements for public investment companies.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dc865bc99795c721f6afd6187b43449cb5c9360c675f30a65cdc7bb50e99ff1b","downloaded_from":"2026-09-09T22:55:07.169Z","last_downloaded_at":"2026-09-09T22:55:07.169Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478009","source_sha256":"c43a9049cb1b3e98fd7e693fbdcbdbb2111a9237273b65296b36e2ca8d4399e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bd5fdc5a20f376f7119ead9eab6e9140f37bf618ab0b8a7b504fad6302334129","downloaded_from":"2026-09-09T22:55:07.169Z","last_downloaded_at":"2026-09-09T22:55:07.169Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478009","source_sha256":"c43a9049cb1b3e98fd7e693fbdcbdbb2111a9237273b65296b36e2ca8d4399e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6a13b6223d777b5d42be8056b7918c350f270cc31fda2e9baf276cb9c09e8df3","downloaded_from":"2026-09-09T22:55:07.169Z","last_downloaded_at":"2026-09-09T22:55:07.169Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478009","source_sha256":"c43a9049cb1b3e98fd7e693fbdcbdbb2111a9237273b65296b36e2ca8d4399e6"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Financial Highlights","paragraphs":[{"citation":"205-946-50-1","para":"50-1","html":"
Financial highlights shall be presented either as a separate schedule or within the notes to financial statements for each class of common shares outstanding.
","snippet":"Financial highlights shall be presented either as a separate schedule or within the notes to financial statements for each class of common shares outstanding.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f17caee259b2da21c7613bfb8218fa6f9bbead5dccfab7feaf75410ea93358b9","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-2","para":"50-2","html":"
Investment companies with multiple classes of shares may present financial highlights only for those classes of shares that are included in reports to such shareholders. In such cases, the investment company shall include appropriate disclosures related to all classes so as to ensure that the financial statements are complete (for example, detail of capital share activity in the statement of changes in net assets or notes to financial statements).
","snippet":"Investment companies with multiple classes of shares may present financial highlights only for those classes of shares that are included in reports to such shareholders. In such cases, the investment company shall includ…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3121d2c5db450f7d8757d405bdc433ea73fcb5d4037d76f3c7c775eaae84ff07","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-3","para":"50-3","html":"
Nonregistered investment partnerships shall disclose per-share data for all common classes in general-purpose financial statements. However, it is permissible for financial highlights to be presented only for those classes of shares that are included in reports to those classes.
","snippet":"Nonregistered investment partnerships shall disclose per-share data for all common classes in general-purpose financial statements. However, it is permissible for financial highlights to be presented only for those class…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f233a0dbfb8d8b7bf13a5b3962415d21b6ddda8c488c332320405a2f2b2f8f94","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-4","para":"50-4","html":"
Only the classes related to the nonmanaging investors (that is, classes of investors that do not consist exclusively of managing investor interests) are considered to be the common interests requiring financial highlight disclosure.
","snippet":"Only the classes related to the nonmanaging investors (that is, classes of investors that do not consist exclusively of managing investor interests) are considered to be the common interests requiring financial highlight…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a1d78549e16b6939180ab564e77478dfd2b4c8b99fbbe9db737de7a0e7f0978","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-5","para":"50-5","html":"
If a fund is not unitized, only investment returns (either total return or internal rate of return) and net investment income and expense ratios shall be disclosed as indicated in paragraphs
946-205-50-10 through 50-25
.
","snippet":"If a fund is not unitized, only investment returns (either total return or internal rate of return) and net investment income and expense ratios shall be disclosed as indicated in paragraphs 946-205-50-10 through 50-25.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a5e12e42951ddfc85dae800743c360175231605173f19d4d0dbecf41b777fbc4","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-6","para":"50-6","html":"
The remainder of this guidance is organized according to the nature the item included in the financial highlights as follows:
  1. a
    Per-share information
  2. b
    Ratios
  3. c
    Total return
  4. d
    Capital commitments.
","snippet":"The remainder of this guidance is organized according to the nature the item included in the financial highlights as follows:\n(a) Per-share information\n(b) Ratios\n(c) Total return\n(d) Capital commitments.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7f8c0ede6533b982107f17289290984f722cc9dc6eb7241b4eb9beb045e327b2","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-7","para":"50-7","html":"
Per-share amounts presented are based on a share outstanding throughout each period presented. The caption descriptions in the per-share data shall be the same captions used in the statement of operations and statement of changes in net assets to allow the reader to determine which components of operations are included in or excluded from various per-share data. All of the following per-share information shall be presented for registered investment companies and for investment companies that compute unitized net asset value:
  1. a
    Net asset value at the beginning of the period.
  2. b
    Per-share net investment income or loss. Other methods, such as dividing net investment income by the average or weighted average number of shares outstanding during the period, are acceptable.
  3. c
    Realized and unrealized gains and losses per share, which are balancing amounts necessary to reconcile the change in net asset value per share with the other per-share information presented. The amount shown in this caption might not agree with the change in aggregate gains and losses for the period. If such is the case, the reasons shall be disclosed.
  4. d
    Total from investment operations, which represents the sum of net investment income or loss and realized and unrealized gain or loss.
  5. e
    Distributions to shareholders shall be disclosed as a single line item except that tax return of capital distributions shall be disclosed separately. Details of distributions shall conform to those shown in the statement of changes in net assets.
  6. f
    Purchase premiums, redemption fees, or other capital items.
  7. g
    Payments by affiliates (see paragraphs
    946-20-05-2 through 05-3
    ).
  8. h
    Net asset value at the end of the period.
The information required in (b) through (g) is not required for separate accounts that represent an ownership interest in the underlying separate account portfolios or mutual funds.
","snippet":"Per-share amounts presented are based on a share outstanding throughout each period presented. The caption descriptions in the per-share data shall be the same captions used in the statement of operations and statement o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3698407fb118b90efa1a9a30e08349740f34abc97922fceaf5cdc1b3e8b25228","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-8","para":"50-8","html":"
Nonregistered investment partnerships that compute unitized net asset value shall disclose information for each reporting share class related to nonmanaging investors. The information shall be disclosed for each major category affecting net asset value per share (as shown in the statement of operations and statement of changes in net assets of the fund).
","snippet":"Nonregistered investment partnerships that compute unitized net asset value shall disclose information for each reporting share class related to nonmanaging investors. The information shall be disclosed for each major ca…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a5000148cbdcecb84cb20b3e85ebc20f978852008526ec9cdae5022fb85a6f6d","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-9","para":"50-9","html":"
Paragraph 946-210-45-16 provides guidance on the net asset amount that shall be used for purposes of preparing the per-share disclosures required by this Section as the beginning and ending balance in the statement of changes in net assets of the fund.
","snippet":"Paragraph 946-210-45-16 provides guidance on the net asset amount that shall be used for purposes of preparing the per-share disclosures required by this Section as the beginning and ending balance in the statement of ch…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bcbb3cc5a30118963e9e3c41e4f9cf7b81b8b79d79f3e838ac59acfa90f3166a","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-10","para":"50-10","html":"
Ratios of expenses and net investment income to average net assets are generally annualized for periods less than a year.
","snippet":"Ratios of expenses and net investment income to average net assets are generally annualized for periods less than a year.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:625d34675cd5c41c656db823f1b08c66d91f42327c9c24c5809c938e13f30e6d","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-11","para":"50-11","html":"
The ratio of expenses to average net assets should be increased by brokerage service and expense offset arrangements (see paragraphs 946-20-45-3 and 946-20-45-5).
","snippet":"The ratio of expenses to average net assets should be increased by brokerage service and expense offset arrangements (see paragraphs 946-20-45-3 and 946-20-45-5).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a4c43415422f4baeccfd7a26a911d5f814c9e209e93fc89dac3f8e8a57f38211","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-12","para":"50-12","html":"
When determining expense and net investment income ratios, nonregistered investment partnerships shall calculate average net assets by using the fund's (or class's) weighted-average net assets as measured at each accounting period or periodic valuation (for example, daily, weekly, monthly, quarterly), adjusting for capital contributions or withdrawals from the fund occurring between accounting periods or valuations. (This paragraph is not intended to require any additional interim accounting period or periodic valuation date beyond that which may be provided in offering or organizational documents of the partnership.)
","snippet":"When determining expense and net investment income ratios, nonregistered investment partnerships shall calculate average net assets by using the fund's (or class's) weighted-average net assets as measured at each account…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:805c2f8ae9d9b8cb57ebf5716cad46fabd7c39aff4474f6bec08be2e41beb306","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-13","para":"50-13","html":"
The expense and net investment income ratios shall be calculated by nonregistered investment partnerships based on the expenses allocated to each common or investor class (for example, the limited partner class) before the effects of any incentive allocation. Adequate disclosure shall be made to indicate that the net investment income ratio does not reflect the effects of any incentive allocation. Expenses directly related to the total return of the fund, such as incentive fees, and nonrecurring expenses, such as organizational costs, shall not be annualized when determining the expense ratio. Disclosure shall be made of the expenses that have not been annualized.
","snippet":"The expense and net investment income ratios shall be calculated by nonregistered investment partnerships based on the expenses allocated to each common or investor class (for example, the limited partner class) before t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6c5aab92304aa27e69eedeaf9835ef90780109ed1fc8d9405b1df7c5df614c5b","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-14","para":"50-14","html":"
Generally, the determination of expenses for computing those ratios shall follow the presentation of expenses in the fund's statement of operations. Accordingly, if the manager's or general partner's incentive is structured as a fee rather than an allocation of profits, the incentive fee would be factored into the computation of an expense ratio. Because an incentive allocation of profits is not presented as an expense, it shall not be considered part of the expense ratio. However, to avoid potentially significant inconsistencies in ratio presentations based solely on the structuring of incentives as fees or allocations, all incentives shall be reflected in the disclosure of financial highlights.
","snippet":"Generally, the determination of expenses for computing those ratios shall follow the presentation of expenses in the fund's statement of operations. Accordingly, if the manager's or general partner's incentive is structu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4dbaf1550da4f872d4c6df399e154a9d3697ce131d31f5a64c1ac447fc211945","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-15","para":"50-15","html":"
Additionally, for the expense ratio, disclosure shall be made of the effect of any agreement to waive or reimburse fees and expenses to each reporting class as a whole, as described in paragraph 946-20-50-7, and of expense offsets, as described in paragraphs 946-20-45-3 and 946-20-45-5. Agreements to waive a portion or all of certain fees to a specific investor, which do not relate to the share class as a whole, do not require disclosure in the financial highlights. However, as ratios are calculated for each common class taken as a whole, the financial statements shall disclose that an individual investor's ratio may vary from those ratios.
","snippet":"Additionally, for the expense ratio, disclosure shall be made of the effect of any agreement to waive or reimburse fees and expenses to each reporting class as a whole, as described in paragraph 946-20-50-7, and of expen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e39befdac8cc5526f93a92132d43e8103ea6ea84545ecebac7328e1984ec5b8c","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-16","para":"50-16","html":"
Funds-of-funds shall compute the expense and net investment income ratios using the expenses presented in the fund's statement of operations. Therefore, funds-of-funds typically shall compute these ratios based on the net investment income and expense items at the fund-of-funds level only. Adequate disclosure shall be made so that it is clear to users that the ratios do not reflect the funds-of-funds' proportionate share of income and expenses of the underlying investee funds.
","snippet":"Funds-of-funds shall compute the expense and net investment income ratios using the expenses presented in the fund's statement of operations. Therefore, funds-of-funds typically shall compute these ratios based on the ne…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:189389351a085d5a08ba97da68dc4dec62d92fa07b935df3edad58113325c88d","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-17","para":"50-17","html":"
In a master-feeder structure, the feeder shall include its proportionate share of the income and expenses of the master when computing the ratios at the feeder level. If, in a master-feeder structure, an incentive is levied as an allocation at the master level, the feeder shall present its share of the incentive allocation as a separate line item in the statement of operations.
","snippet":"In a master-feeder structure, the feeder shall include its proportionate share of the income and expenses of the master when computing the ratios at the feeder level. If, in a master-feeder structure, an incentive is lev…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:502936132308da530a09327d7d43ec4c0c7a8a56e5b2b244209b1533b1e83270","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-18","para":"50-18","html":"
Total return shall be presented for all investment companies (for interim periods, the disclosure shall include whether or not total return is annualized).
","snippet":"Total return shall be presented for all investment companies (for interim periods, the disclosure shall include whether or not total return is annualized).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7266cd607efffdf48bdde3e886150eee79667c32224c00136a5b2f34b633a360","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-19","para":"50-19","html":"
For nonregistered investment companies organized in a manner using unitized net asset value, total return shall be computed based on the change in the net asset value per share during the period, and assuming that all dividends are reinvested.
","snippet":"For nonregistered investment companies organized in a manner using unitized net asset value, total return shall be computed based on the change in the net asset value per share during the period, and assuming that all di…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a8a56314cc8a234c55801c05e3fe50817ab3004e5fcd05a35341ad11ed1048b","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-20","para":"50-20","html":"
For investment companies not using unitized net asset value, including investment partnerships, total return shall be computed based on the change in value during the period of a theoretical investment made at the beginning of the period. The change in value of a theoretical investment is measured by comparing the aggregate ending value of each class of investor with the aggregate beginning value of each such class, adjusted for cash flows related to capital contributions or withdrawals during the period.
","snippet":"For investment companies not using unitized net asset value, including investment partnerships, total return shall be computed based on the change in value during the period of a theoretical investment made at the beginn…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f55e5d9661f80904aa18434a81464ece4234fd748472f1f7816f46adf05ae66b","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-21","para":"50-21","html":"
If capital cash flows occur during the reporting period, returns are geometrically linked based on capital cash flow dates. In general, geometrically linking requires the computation of performance for each discrete period within a year in which invested capital is constant (that is, for each period between investor cash flow dates), then multiplying those performance computations together to obtain the total return for a constant investment outstanding for the entire year.
","snippet":"If capital cash flows occur during the reporting period, returns are geometrically linked based on capital cash flow dates. In general, geometrically linking requires the computation of performance for each discrete peri…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:474def4561af5abab04be4b18c805e9c04d6232f7ae04466ff900402364a9b07","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-22","para":"50-22","html":"
Because incentive allocations or fees may vary among investors within a class, total return for reporting classes subject to an incentive allocation or fee should report total return before and after the incentive allocation or fee for each reporting class taken as a whole. The effect of incentive allocations on total return is computed on a weighted-average aggregate capital basis. That results in an incentive computation less than the maximum if, for example, certain partners had loss carryovers at the beginning of the period.
","snippet":"Because incentive allocations or fees may vary among investors within a class, total return for reporting classes subject to an incentive allocation or fee should report total return before and after the incentive alloca…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:20164845898bc00e7c4ccd89d2604491a8058fcc95d7174aec2d23fde392f3b8","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-23","para":"50-23","html":"
An investment company shall disclose the internal rate of return since inception of the investment company's cash flows and ending net assets at the end of the period (residual values) as presented in the financial statements, net of all incentive allocations or fees, to each investor class, as of the beginning and end of the period, if, by the terms of their offering documents, they meet all of the following criteria:
  1. a
    Have limited lives
  2. b
    Do not continuously raise capital and are not required to redeem their interests upon investor request (obtaining initial capital commitments from investors at time of organization and subsequently drawing on those commitments to make investments is not considered continuous for this purpose)
  3. c
    Have as a predominant operating strategy the return of the proceeds from disposition of investments to investors
  4. d
    Have limited opportunities, if any, for investors to withdraw before termination of the entity
  5. e
    Do not routinely acquire (directly or indirectly) as part of their investment strategy market-traded securities and derivative instruments.
","snippet":"An investment company shall disclose the internal rate of return since inception of the investment company's cash flows and ending net assets at the end of the period (residual values) as presented in the financial state…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f999c98b9631b99c7e32f3ed62a501ec41330ad77736b62027a4bab5e4b6fd91","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-24","para":"50-24","html":"
A footnote to the financial highlights shall disclose that the internal rate of return since inception of the investment is net of all incentives. The internal rate of return since inception shall be based on a consistent assumption, no less frequently than quarterly, as to the timing of cash inflows and outflows (for example, on actual cash flow dates or cash inflows at the beginning of each month or quarter and cash outflows at the end of each month or quarter). All significant assumptions with respect to the internal rate of return since inception shall be disclosed in the footnotes to the financial highlights.
","snippet":"A footnote to the financial highlights shall disclose that the internal rate of return since inception of the investment is net of all incentives. The internal rate of return since inception shall be based on a consisten…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e302e0ded1d806fc66ee7dd9601d6e08f452b3dc771ca059549e263e5ff32439","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-25","para":"50-25","html":"
Investment companies that obtain capital commitments from investors and periodically call capital under those commitments to make investments (principally limited-life, nonregistered investment partnerships) shall disclose in the financial highlights or in a note to financial statements the total committed capital of the partnership (including general partner), the year of formation of the entity, and the ratio of total contributed capital to total committed capital.
","snippet":"Investment companies that obtain capital commitments from investors and periodically call capital under those commitments to make investments (principally limited-life, nonregistered investment partnerships) shall disclo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7f2c8fef13bd0f63ec5554edddeba038be28e475c94c0410b50a2455a974926f","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:36def87848ef61b7427be2645abddbed9b1a763fd22161bcc257df032fe0a3c2","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"block":null,"heading":"Complex Capital Structures","paragraphs":[{"citation":"205-946-50-26","para":"50-26","html":"
Management investment companies that have multiple classes of shares or master-feeder structures shall apply the following guidance in preparing financial highlights.
","snippet":"Management investment companies that have multiple classes of shares or master-feeder structures shall apply the following guidance in preparing financial highlights.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d7ff589db17619f05e265a57cff9e13cf6b594693bccbf9d65e1c04e1c95a54f","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-27","para":"50-27","html":"
Financial highlights, including total return, shall be presented by class except for portfolio turnover, which is calculated at the fund level. The financial highlights for any class for which the shareholders are precluded from investing in may be omitted.
","snippet":"Financial highlights, including total return, shall be presented by class except for portfolio turnover, which is calculated at the fund level. The financial highlights for any class for which the shareholders are preclu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:82ec1a930e65de17de8efe475b18def1bcfe9e4f5e23f1903384c06e9003bb89","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-28","para":"50-28","html":"
The feeder fund's ratios of expenses and net investment income to average net assets shall include the expenses of both the feeder and the master fund. Balance credits earned by the master fund shall be reflected in the feeder fund ratios as if they had been earned by the feeder fund directly. Feeder funds need not disclose a portfolio turnover rate because feeders invest all their assets in the master fund.
","snippet":"The feeder fund's ratios of expenses and net investment income to average net assets shall include the expenses of both the feeder and the master fund. Balance credits earned by the master fund shall be reflected in the …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bf34e80bb7b54e4c20add8b9898e2d9ba8fca4581baf1b9e00a69d07d13e045b","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-29","para":"50-29","html":"
The financial highlights section of the master fund organized as a partnership is substantially modified, because per share information is not applicable. The master fund financial highlights section shall include the total return, ratios of expenses and net investment income to average net assets, and portfolio turnover rate. The financial highlights section of master funds not organized as a partnership shall report the normal per-share data.
","snippet":"The financial highlights section of the master fund organized as a partnership is substantially modified, because per share information is not applicable. The master fund financial highlights section shall include the to…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1096d48f2f0220bbf0630c557da1f4faf96ccad40fc6962ab1f6714a265db7d0","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-30","para":"50-30","html":"
The financial highlights for the reporting fund in a fund-of-funds structure are usually similar to a standalone feeder fund in a master-feeder structure. Net investment income and expense ratios shall be computed based on the amounts reported in the statement of operations, and portfolio turnover shall be measured based on the turnover of investments made by the reporting fund in the investee funds, not looking through the investee funds to their portfolio activity.
","snippet":"The financial highlights for the reporting fund in a fund-of-funds structure are usually similar to a standalone feeder fund in a master-feeder structure. Net investment income and expense ratios shall be computed based …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:66cdb3be145313e459b0e43c62555a443c97d9fde41c3163c5c67c18addf48e1","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:daebccc0d4d6538d9df1a89cfab2746332b3c4e514c6463e6599c8b8d7de5a64","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"block":null,"heading":"Separate Accounts","paragraphs":[{"citation":"205-946-50-31","para":"50-31","html":"
Separate accounts with more than two levels of contract charges or net unit values per subaccount may elect to present the required financial highlights for contract expense levels that had units issued or outstanding during the reporting period (including number of units, unit fair value, net assets, expense ratio, investment income ratio, and total return), for either of the following:
  1. a
    Each contract expense level that results in a distinct net unit value and for which units were issued or outstanding during each reporting period
  2. b
    The range of the lowest and highest level of expense ratio and the related total return and unit fair values during each reporting period.
The calculation of the ranges for the total return ratio and unit fair values should correspond to the groupings that produced the lowest and highest expense ratios.
","snippet":"Separate accounts with more than two levels of contract charges or net unit values per subaccount may elect to present the required financial highlights for contract expense levels that had units issued or outstanding du…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0af019a1fcc86b5459b4c0cbb533fad1f5e090da3a16f17a0c40ebdd3f049228","downloaded_from":"2026-09-09T22:55:10.249Z","last_downloaded_at":"2026-09-09T22:55:10.249Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478494","source_sha256":"4f5bafdcde04d6e094349be3773e3177b2d11889b54aaea2ce2b089ccc294b27"}},{"citation":"205-946-50-32","para":"50-32","html":"
The financial highlights table in the separate account's financial statements shall state clearly that the expense ratio considers only the expenses borne directly by the separate account and excludes expenses incurred directly by the underlying funds or charged through the redemption of units.
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","snippet":"The following is the text of Regulation S-X Rule 6-10, What Schedules Are to Be Filed (17 CFR 210.6-10).\n(a) When information is required in schedules for both the person and its subsidiaries consolidated, it may be pres…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8ae9f0a60f70ba9ba4ef91e6f683eb951d96d5eba30770db0b605e99e0abcc00","downloaded_from":"2026-09-09T22:55:25.512Z","last_downloaded_at":"2026-09-09T22:55:25.512Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477975","source_sha256":"73eb7d11cdf964681a966bb28dc59fed1e208efca39724b0ae68c7c58e4eb3d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:55ea9b4dc987c3f0e84a2cd9ea05d4aafe475ca5577f16561dabaf1aa45fe59d","downloaded_from":"2026-09-09T22:55:25.512Z","last_downloaded_at":"2026-09-09T22:55:25.512Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477975","source_sha256":"73eb7d11cdf964681a966bb28dc59fed1e208efca39724b0ae68c7c58e4eb3d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac5b85950cbb7bff4ec372d454fdf6010112e3c5257d0bf2f1fa568cdfb23980","downloaded_from":"2026-09-09T22:55:25.512Z","last_downloaded_at":"2026-09-09T22:55:25.512Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477975","source_sha256":"73eb7d11cdf964681a966bb28dc59fed1e208efca39724b0ae68c7c58e4eb3d5"}}],"enrichment":{"summary":"This subtopic governs how investment companies present the statement of changes in net assets and financial highlights. The statement of changes in net assets must separately show operations (net investment income, realized gains/losses, change in unrealized appreciation), net equalization credits/debits, distributions to shareholders (with tax return of capital separate), and capital share transactions. Financial highlights—per-share data, expense and net investment income ratios, total return (or since-inception IRR for certain limited-life funds), and capital commitment data—must be presented as a separate schedule or in the notes for each class of common shares.","key_points":["The statement of changes in net assets summarizes operations, net equalization credits or debits, distributions to shareholders (tax return of capital shown separately), capital share transactions, and capital contributions; temporary tax/GAAP differences that become permanent are reclassified to paid-in capital (205-946-45-3).","Financial highlights are presented as a separate schedule or in the notes for each class of common shares; funds that are not unitized present only investment returns (total return or IRR) and net investment income and expense ratios (205-946-50-1; 205-946-50-5; 205-946-45-2).","Per-share data for registered funds and funds computing unitized NAV runs from beginning NAV through net investment income, realized/unrealized gains and losses (a balancing amount), total from investment operations, distributions, capital items, payments by affiliates, to ending NAV (205-946-50-7).","Expense and net investment income ratios follow the statement of operations: an incentive structured as a fee is in the expense ratio, but an incentive allocation of profits is not, though all incentives must be reflected in the financial highlights disclosure (205-946-50-13 through 50-14).","Total return is required for all investment companies; unitized funds compute it from change in NAV per share assuming reinvestment, while non-unitized funds use a theoretical investment with returns geometrically linked at capital cash flow dates and reported before and after incentive allocations (205-946-50-18 through 50-22).","Limited-life, non-continuously-offered funds meeting the five criteria must disclose since-inception internal rate of return net of all incentives, and commitment funds must disclose total committed capital, year of formation, and the ratio of contributed to committed capital (205-946-50-23; 205-946-50-25).","In master-feeder structures the feeder's ratios include its proportionate share of master fund expenses (and no portfolio turnover), while funds-of-funds compute ratios only at the reporting fund level with disclosure that underlying investee fund income and expenses are excluded (205-946-50-16 through 50-17; 205-946-50-28 through 50-30)."],"categories":["Presentation","Disclosure","Financial statement presentation","Industry-specific"],"audience_level":"advanced","student_note":"Investment company reporting substitutes financial highlights and the statement of changes in net assets for the ordinary income-statement/equity presentation, so know which items appear where. The classic trap is the incentive arrangement: an incentive fee hits the expense ratio but an incentive allocation of profits does not—yet both must still be reflected in the financial highlights and in the before/after incentive total return.","related_topics":["946-10","946-20","946-205","946-210","946-830","205-10"],"key_concepts":["statement of changes in net assets","financial highlights","expense ratio","net investment income ratio","total return","internal rate of return since inception","master-feeder structure","incentive allocation"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:230b803c64b52a8377959f7546c1f613acad5857ea2428c804d87d3028af4515","downloaded_from":"2026-09-09T22:54:54.562Z","last_downloaded_at":"2026-09-09T22:55:25.512Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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Sheet","score":0.8417,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:85d0a664211fafc954bdc5e3d64169eee66a9952b0d576ebcbc7441cd0901b1e","downloaded_from":"2026-09-09T23:01:25.620Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"220-946","title":"Financial Services—Investment Companies","topic_title":"Income Statement—Reporting Comprehensive Income","score":0.8178,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9cae80179e8eba9c7b428ade83e5bd378e5480887f6ec833399e3188abe9ae58","downloaded_from":"2026-09-09T23:06:14.562Z","last_downloaded_at":"2026-09-09T23:06:52.794Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"946-10","title":"Overall","topic_title":"Financial Services—Investment Companies","score":0.8077,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:38241186549b64e30481b47b4e38a70d3d162949fa8f3c3621acd84bf1ea033b","downloaded_from":"2026-09-10T02:18:44.566Z","last_downloaded_at":"2026-09-10T02:19:25.136Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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It requires a complete set of statements — balance sheet, statement of operations, statement of changes in equity (or net assets), statement of cash flows, and notes (205-954-45-1) — and permits descriptive alternative titles except that the cash flow statement should be titled \"Statement of Cash Flows\" (205-954-45-2). Presentation is essentially the same for both ownership forms except for items that are inapplicable, such as shareholders' equity for NFPs and contributions for investor-owned entities (205-954-05-1).","concepts":["health care entities","not-for-profit business-oriented entity","investor-owned entity","statement of operations","complete set of financial statements","net assets","financial statement titles"],"categories":["Presentation","Financial statement presentation","Industry-specific","Not-for-profit"],"level":"intermediate","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-954-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
Conditional ContributionAddedAccounting Standards Update No. 2018-0806/21/2018
ContributionAmendedAccounting Standards Update No. 2018-0806/21/2018
ContributionAmendedAccounting Standards Update No. 2010-0701/28/2010
Donor-Imposed ConditionAddedAccounting Standards Update No. 2018-0806/21/2018
Promise to GiveAddedAccounting Standards Update No. 2018-0806/21/2018
954-205-45-8SupersededAccounting Standards Update No. 2016-1408/18/2016
954-205-45-9SupersededAccounting Standards Update No. 2016-1408/18/2016
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nConditional Contribution | Added | Accounting Standards Update No. 2018-08 | 06/21/2018 …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:777cff4ef0974ed66b1a7dea67f1fca4ae44a505f9542ad2b135ea50587b365b","downloaded_from":"2026-09-09T22:55:29.204Z","last_downloaded_at":"2026-09-09T22:55:29.204Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478540","source_sha256":"3ed4eabe86fd8c71b8f43e029ccadb4d2898f7f3073a66ee551d1c244e643331"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4b39c895d9611081b30b4bff3668613c1e9fb72c1f1222c9c5818024975e8d74","downloaded_from":"2026-09-09T22:55:29.204Z","last_downloaded_at":"2026-09-09T22:55:29.204Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478540","source_sha256":"3ed4eabe86fd8c71b8f43e029ccadb4d2898f7f3073a66ee551d1c244e643331"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1955a760a5030c7268633dbabcf61c82ce25973328b20149f88053323d81bd9b","downloaded_from":"2026-09-09T22:55:29.204Z","last_downloaded_at":"2026-09-09T22:55:29.204Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478540","source_sha256":"3ed4eabe86fd8c71b8f43e029ccadb4d2898f7f3073a66ee551d1c244e643331"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-954-05-1","para":"05-1","html":"
This Subtopic provides guidance on the presentation of financial statements for health care entities. The financial reporting for not-for-profit, business-oriented entities and investor-owned health care entities is consistent except for transactions that clearly are not applicable. For example, not-for-profit, business-oriented entities would have nothing to report for shareholders' equity. On the other hand, investor-owned health care entities typically would not have anything to report for contributions.
","snippet":"This Subtopic provides guidance on the presentation of financial statements for health care entities. The financial reporting for not-for-profit, business-oriented entities and investor-owned health care entities is cons…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:df95dcf542c5b2f89c762365cd2d5c926ba635bd92cfbd8e5ac5566950334b2d","downloaded_from":"2026-09-09T22:55:32.986Z","last_downloaded_at":"2026-09-09T22:55:32.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478614","source_sha256":"7b23e6d1b54aa6fe6d34d5cdb8045479c897ca90f5142a3ec6dfacdc29458d87"}},{"citation":"205-954-05-2","para":"05-2","html":"
A not-for-profit, business-oriented health care entity also applies guidance in the following Subtopics subject to the more specific guidance that is provided in this Topic:
  1. a
    Not-for-Profit Entities—Presentation of Financial Statements, Subtopic 958-205
  2. b
    Not-for-Profit Entities—Statement of Financial Position, Subtopic 958-210
  3. c
    Not-for-Profit Entities—Income Statement—Reporting Comprehensive Income, Subtopic 958-220
  4. d
    Not-for-Profit Entities—Statement of Cash Flows, Subtopic 958-230.
","snippet":"A not-for-profit, business-oriented health care entity also applies guidance in the following Subtopics subject to the more specific guidance that is provided in this Topic:\n(a) Not-for-Profit Entities—Presentation of Fi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4ac2059fb63d7d971eda49bbbc8b44ff6dcbfe1f8eee8d9172c3d241a2e63945","downloaded_from":"2026-09-09T22:55:32.986Z","last_downloaded_at":"2026-09-09T22:55:32.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478614","source_sha256":"7b23e6d1b54aa6fe6d34d5cdb8045479c897ca90f5142a3ec6dfacdc29458d87"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7d0f3b0e972c9758a3b0592d84d866554b73fb0b65799bda4eba335ebc173a9a","downloaded_from":"2026-09-09T22:55:32.986Z","last_downloaded_at":"2026-09-09T22:55:32.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478614","source_sha256":"7b23e6d1b54aa6fe6d34d5cdb8045479c897ca90f5142a3ec6dfacdc29458d87"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:312126d29941adf57ffc11934e0d2d4bc96db160876b1525e24aa4c46a167e22","downloaded_from":"2026-09-09T22:55:32.986Z","last_downloaded_at":"2026-09-09T22:55:32.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478614","source_sha256":"7b23e6d1b54aa6fe6d34d5cdb8045479c897ca90f5142a3ec6dfacdc29458d87"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"205-954-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 954-10-15.
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It requires a complete set of statements — balance sheet, statement of operations, statement of changes in equity (or net assets), statement of cash flows, and notes (205-954-45-1) — and permits descriptive alternative titles except that the cash flow statement should be titled \"Statement of Cash Flows\" (205-954-45-2). Presentation is essentially the same for both ownership forms except for items that are inapplicable, such as shareholders' equity for NFPs and contributions for investor-owned entities (205-954-05-1).","key_points":["The basic financial statements of a health care entity are a balance sheet, a statement of operations, a statement of changes in equity (or net assets), a statement of cash flows, and notes to the financial statements (205-954-45-1).","Financial reporting for not-for-profit, business-oriented entities and investor-owned health care entities is consistent except for transactions that clearly are not applicable — NFPs report no shareholders' equity, and investor-owned entities typically report no contributions (205-954-05-1).","Alternative descriptive titles may be used (for example, statement of financial position instead of balance sheet), but a statement of cash flows should only be titled 'Statement of Cash Flows' (205-954-45-2).","A not-for-profit, business-oriented health care entity also applies Subtopics 958-205, 958-210, 958-220, and 958-230, subject to the more specific guidance in Topic 954 (205-954-05-2).","The scope of this Subtopic is the same as the Overall Subtopic scope in Section 954-10-15 (205-954-15-1).","Former paragraphs 205-954-45-8 and 45-9 were superseded by ASU 2016-14 (the NFP financial statement presentation update)."],"categories":["Presentation","Financial statement presentation","Industry-specific","Not-for-profit"],"audience_level":"intermediate","student_note":"This is a short industry-specific overlay: the takeaway is the required set of five statement components and that NFP health care entities follow the general NFP presentation Subtopics (958-205 through 958-230) unless Topic 954 says otherwise. 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Entities","area":"Presentation","paragraphs":128,"summary":"ASC 958-205 governs the presentation of a not-for-profit entity's general-purpose financial statements. A complete set consists of a statement of financial position, a statement of activities, a statement of cash flows, and notes (958-205-45-4), with net assets classified in two minimum classes—net assets with donor restrictions and net assets without donor restrictions (958-205-45-2(b)). It also prescribes when donor restrictions expire, how endowment funds (including those under UPMIFA) are classified, and the required endowment and underwater endowment disclosures.","concepts":["net assets with donor restrictions","net assets without donor restrictions","donor-restricted endowment fund","board-designated endowment fund","underwater endowment fund","appropriation for expenditure","functional and natural expense analysis","statement of activities"],"categories":["Not-for-profit","Presentation","Disclosure","Financial statement presentation"],"level":"intermediate","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-958-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
Board-Designated Endowment FundAmendedAccounting Standards Update No. 2016-1408/18/2016
Conditional ContributionAddedAccounting Standards Update No. 2018-0806/21/2018
ContributionAmendedAccounting Standards Update No. 2018-0806/21/2018
ContributionAmendedAccounting Standards Update No. 2010-0701/28/2010
Contributions ReceivableAddedAccounting Standards Update No. 2016-1408/18/2016
Donor-Imposed ConditionAddedAccounting Standards Update No. 2018-0806/21/2018
Donor-Imposed RestrictionAmendedAccounting Standards Update No. 2016-1408/18/2016
Donor-Restricted Endowment FundAmendedAccounting Standards Update No. 2016-1408/18/2016
Donor-Restricted SupportAddedAccounting Standards Update No. 2016-1408/18/2016
Endowment FundAmendedAccounting Standards Update No. 2016-1408/18/2016
Functional ClassificationSupersededAccounting Standards Update No. 2016-1408/18/2016
Functional Expense ClassificationAddedAccounting Standards Update No. 2016-1408/18/2016
Funds Functioning as EndowmentAmendedAccounting Standards Update No. 2016-1408/18/2016
Management and General ActivitiesAmendedAccounting Standards Update No. 2016-1408/18/2016
Natural Expense ClassificationAmendedAccounting Standards Update No. 2024-0311/04/2024
Natural Expense ClassificationAmendedAccounting Standards Update No. 2016-1408/18/2016
Natural Expense ClassificationAddedAccounting Standards Update No. 2014-0603/14/2014
Net AssetsAmendedAccounting Standards Update No. 2016-1408/18/2016
Net Assets with Donor RestrictionsAddedAccounting Standards Update No. 2016-1408/18/2016
Net Assets without Donor RestrictionsAddedAccounting Standards Update No. 2016-1408/18/2016
Permanent EndowmentSupersededAccounting Standards Update No. 2016-1408/18/2016
Permanent RestrictionSupersededAccounting Standards Update No. 2016-1408/18/2016
Permanently Restricted Net AssetsSupersededAccounting Standards Update No. 2016-1408/18/2016
Quasi-endowment FundsSupersededAccounting Standards Update No. 2016-1408/18/2016
ReclassificationSupersededAccounting Standards Update No. 2016-1408/18/2016
Reclassification of Net AssetsAddedAccounting Standards Update No. 2016-1408/18/2016
Restricted SupportSupersededAccounting Standards Update No. 2016-1408/18/2016
Spending RateAddedAccounting Standards Update No. 2014-0603/14/2014
StipulationSupersededAccounting Standards Update No. 2016-1408/18/2016
Temporarily Restricted Net AssetsSupersededAccounting Standards Update No. 2016-1408/18/2016
Underwater Endowment FundAddedAccounting Standards Update No. 2016-1408/18/2016
Unrestricted Net AssetsSupersededAccounting Standards Update No. 2016-1408/18/2016
Unrestricted SupportSupersededAccounting Standards Update No. 2016-1408/18/2016
Voluntary Health and Welfare EntitySupersededAccounting Standards Update No. 2016-1408/18/2016
958-205-05-5 through 05-6AAmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-05-6BAddedAccounting Standards Update No. 2016-1408/18/2016
958-205-05-8 through 05-10
AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-45-2AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-45-4 through 45-6
AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-45-6AmendedAccounting Standards Update No. 2014-0603/14/2014
958-205-45-9 through 45-13
AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-45-10AmendedAccounting Standards Update No. 2015-1006/12/2015
958-205-45-10AAddedAccounting Standards Update No. 2015-1006/12/2015
958-205-45-13A through 45-13J
AddedAccounting Standards Update No. 2016-1408/18/2016
958-205-45-13DAmendedMaintenance Update 2018-12 (PDF)09/10/2018
958-205-45-14 through 45-19
SupersededAccounting Standards Update No. 2016-1408/18/2016
958-205-45-21 through 45-35
SupersededAccounting Standards Update No. 2016-1408/18/2016
958-205-45-21AAmendedAccounting Standards Update No. 2012-0410/01/2012
958-205-45-22AmendedMaintenance Update 2016-05 (PDF)04/12/2016
958-205-45-27AmendedAccounting Standards Update No. 2014-0603/14/2014
958-205-45-36AddedAccounting Standards Update No. 2020-0709/17/2020
958-205-50-1AAmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-50-1BAmendedAccounting Standards Update No. 2016-1912/14/2016
958-205-50-1BAmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-50-1CAddedAccounting Standards Update No. 2016-1408/18/2016
958-205-50-2AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-50-2AAmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-50-4AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-55-1 through 55-2
AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-55-5AmendedAccounting Standards Update No. 2016-1811/17/2016
958-205-55-5 through 55-7
AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-55-9AmendedMaintenance Update 2018-02 (PDF)02/02/2018
958-205-55-9 through 55-21
AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-55-11AmendedMaintenance Update 2017-06 (PDF)04/07/2017
958-205-55-12AmendedAccounting Standards Update No. 2015-0101/09/2015
958-205-55-12AmendedAccounting Standards Update No. 2014-0603/14/2014
958-205-55-13 through 55-17
AmendedAccounting Standards Update No. 2020-0709/17/2020
958-205-55-19 through 55-21
AmendedAccounting Standards Update No. 2016-1811/17/2016
958-205-55-21AmendedAccounting Standards Update No. 2020-0709/17/2020
958-205-55-21AmendedAccounting Standards Update No. 2012-0410/01/2012
958-205-55-22 through 55-30
SupersededAccounting Standards Update No. 2016-1408/18/2016
958-205-55-22AmendedAccounting Standards Update No. 2012-0410/01/2012
958-205-55-31AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-55-32AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-55-32AmendedAccounting Standards Update No. 2012-0410/01/2012
958-205-55-33 through 55-35
SupersededAccounting Standards Update No. 2016-1408/18/2016
958-205-55-36 through 55-39
AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-55-37AmendedMaintenance Update 2016-11 (PDF)06/27/2016
958-205-55-38AmendedAccounting Standards Update No. 2012-0410/01/2012
958-205-55-40SupersededAccounting Standards Update No. 2016-1408/18/2016
958-205-55-40AmendedAccounting Standards Update No. 2012-0410/01/2012
958-205-55-41AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-55-42 through 55-46
SupersededAccounting Standards Update No. 2016-1408/18/2016
958-205-55-47 through 55-52
AmendedAccounting Standards Update No. 2016-1408/18/2016
958-205-55-53SupersededAccounting Standards Update No. 2016-1408/18/2016
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nBoard-Designated Endowment Fund | Amended | Accounting Standards Update No. 2016-14 | 08…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ff98b24351de65173d45cb2b1e4932090aacbbe49464f2c393b7e5b2f43ecdcd","downloaded_from":"2026-09-09T22:55:47.235Z","last_downloaded_at":"2026-09-09T22:55:47.235Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478598","source_sha256":"126e79c2ddbd2a1f5451560d8c90af7063117b587a2ec2c283765e8c11974ea3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:30bd681210667fcd71ec9e3b8839453df926804eef7a5fd138998968351d3caf","downloaded_from":"2026-09-09T22:55:47.235Z","last_downloaded_at":"2026-09-09T22:55:47.235Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478598","source_sha256":"126e79c2ddbd2a1f5451560d8c90af7063117b587a2ec2c283765e8c11974ea3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d1630ea27cb46ddff8e4742334d0b6af0c1ebea54cc4da8f11caf5ae2b4ba918","downloaded_from":"2026-09-09T22:55:47.235Z","last_downloaded_at":"2026-09-09T22:55:47.235Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478598","source_sha256":"126e79c2ddbd2a1f5451560d8c90af7063117b587a2ec2c283765e8c11974ea3"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-958-05-1","para":"05-1","html":"
This Subtopic discusses the presentation of financial statements for not-for-profit entities (NFPs), including the following items:
  1. a
    The objectives of financial reporting by NFPs
  2. b
    A complete set of financial statements
  3. c
    Statement of functional expenses
  4. d
    Comparative financial statements
  5. e
    Expiration of restrictions
  6. f
    Reporting endowment funds
  7. g
    Disclosures of a general nature that do not belong with other Subtopics.
","snippet":"This Subtopic discusses the presentation of financial statements for not-for-profit entities (NFPs), including the following items:\n(a) The objectives of financial reporting by NFPs\n(b) A complete set of financial statem…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8411f09af7b6abfd714a3241053f29c007f4d2d0a7d040f53a60cfc5a7dba276","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"citation":"205-958-05-2","para":"05-2","html":"
Additional information concerning the reporting model of an NFP can be found in the following Subtopics:
  1. a
    Not-for-Profit Entities—Balance Sheet, Subtopic 958-210
  2. b
    Not-for-Profit Entities—Income Statement, Subtopic 958-220
  3. c
    Not-for-Profit Entities—Statement of Cash Flows, Subtopic 958-230.
","snippet":"Additional information concerning the reporting model of an NFP can be found in the following Subtopics:\n(a) Not-for-Profit Entities—Balance Sheet, Subtopic 958-210\n(b) Not-for-Profit Entities—Income Statement, Subtopic …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a2cd06860aae2b4dd19d35b5a064351cae122318dda7cdd4c231c92889e7b05e","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ea566f0db01f9662cc3d1d0000c130cff4e9a64b9f41b62623035a5d87e85061","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"block":null,"heading":"Purpose of Financial Statements","paragraphs":[{"citation":"205-958-05-3","para":"05-3","html":"
The primary purpose of financial statements is to provide relevant information to meet the common interests of donors, members, creditors, and others who provide resources to NFPs. Those external users of financial statements have common interests in assessing both of the following:
  1. a
    The services an NFP provides and its ability to continue to provide those services
  2. b
    How managers discharge their stewardship responsibilities and other aspects of their performance.
","snippet":"The primary purpose of financial statements is to provide relevant information to meet the common interests of donors, members, creditors, and others who provide resources to NFPs. Those external users of financial state…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c42bcddab1c79ab26146f7b30b819439b0fe29dcdcfb06ecb79cbef2c8bcec38","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"citation":"205-958-05-4","para":"05-4","html":"
More specifically, the purpose of financial statements, including accompanying notes, is to provide information about all of the following:
  1. a
    The amount and nature of an NFP's assets, liabilities, and net assets
  2. b
    The effects of transactions and other events and circumstances that change the amount and nature of net assets
  3. c
    The amount and kinds of inflows and outflows of economic resources during a period and the relation between the inflows and outflows
  4. d
    How an NFP obtains and spends cash, its borrowing and repayment of borrowing, and other factors that may affect its liquidity
  5. e
    The service efforts of an NFP.
","snippet":"More specifically, the purpose of financial statements, including accompanying notes, is to provide information about all of the following:\n(a) The amount and nature of an NFP's assets, liabilities, and net assets\n(b) Th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:272c6e768637f450b7d4d356772c0bd93b10d65540e5c813be9c4347f52d5ad4","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d32e1702941f1abd9e4c916018c29a25ced49246fa9ae50eae0e96ecfea89597","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"block":null,"heading":"A Complete Set of Financial Statements","paragraphs":[{"citation":"205-958-05-5","para":"05-5","html":"
General-purpose external financial statements provided by an NFP include a statement of financial position, a statement of activities, and a statement of cash flows. Individual financial statements provide different information, and the information each statement provides generally complements information in other financial statements.
","snippet":"General-purpose external financial statements provided by an NFP include a statement of financial position, a statement of activities, and a statement of cash flows. Individual financial statements provide different info…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:178c7d7019664ea4928aa1c0cba836f6f9e7431d02b8f565a792a80413e86f00","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"citation":"205-958-05-6","para":"05-6","html":"
General-purpose financial statements classify and report net assets in two groups—net assets with donor restrictions and net assets without donor restrictions—based on the existence or absence of donor-imposed restrictions and the nature of those restrictions.
","snippet":"General-purpose financial statements classify and report net assets in two groups—net assets with donor restrictions and net assets without donor restrictions—based on the existence or absence of donor-imposed restrictio…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4ffe8416a7751578a8fa1230135246ef0a70bde175bb74cc0b15a78692cc2511","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"citation":"205-958-05-6A","para":"05-6A","html":"
The guidance in the Not-for-Profit Entities Topic uses certain statement titles and the terms net assets without donor restrictions and net assets with donor restrictions. Other titles and other labels may also be used, as illustrated in paragraphs 958-205-55-2 and 958-210-55-3.
","snippet":"The guidance in the Not-for-Profit Entities Topic uses certain statement titles and the terms net assets without donor restrictions and net assets with donor restrictions. Other titles and other labels may also be used, …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ed318200dd5451c11f55cf8f095b10ff9a2e026751aaa87ff1c8911af31670d6","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"citation":"205-958-05-6B","para":"05-6B","html":"
The two required net asset classes (with donor restrictions and without donor restrictions) are a minimum classification scheme, if they are applicable. An NFP can choose to further disaggregate the two net asset classes. For example, an NFP may wish to disaggregate net assets with donor restrictions between those expected to be maintained in perpetuity and those expected to be spent over time or for a particular purpose. However, paragraph 958-210-45-1 does require that the amounts for each of the two classes of net assets and the total of net assets be reported in a statement of financial position.
","snippet":"The two required net asset classes (with donor restrictions and without donor restrictions) are a minimum classification scheme, if they are applicable. An NFP can choose to further disaggregate the two net asset classes…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:22d0dd9509828f0bb8ce5ff49811925e35b046801de1b64f5b08d03dd1480166","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"citation":"205-958-05-7","para":"05-7","html":"
The Not-for-Profit Entities Topic does not use the terms fund balance or changes in fund balances because in current practice those terms are commonly used to refer to individual groups of assets and related liabilities rather than to an entity's net assets or changes in net assets taken as a whole. While reporting by fund groups is not a necessary part of external financial reporting, paragraph 958-205-45-3 does not preclude providing disaggregated information by fund groups.
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Laws concerning use of net appreciation of endowment funds that are donor-restricted may vary from jurisdiction to jurisdiction. For example, most jurisdictions follow enacted versions of the Uniform Prudent Management of Institutional Funds Act of 2006 or similar legal guidance (including interpretations of the law issued by state Attorneys General) and some jurisdictions follow trust law.
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Because donor stipulations and laws vary, NFPs must assess the relevant facts and circumstances for their endowment gifts and their relevant laws to determine the classification of endowment funds within the NFP financial reporting model (see paragraph 958-205-45-2), including whether some or all of the investment return on endowments is available for spending.
","snippet":"Because donor stipulations and laws vary, NFPs must assess the relevant facts and circumstances for their endowment gifts and their relevant laws to determine the classification of endowment funds within the NFP financia…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cbc2afc4c8a8d6c2e8991756982e0ccdaab9946483012a14c9b5da00f0dcad20","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"citation":"205-958-05-10","para":"05-10","html":"
Subsection 4(a) of the Uniform Prudent Management of Institutional Funds Act of 2006 provides that, unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution. For related guidance, see paragraphs 958-205-45-13 through 45-13F.
","snippet":"Subsection 4(a) of the Uniform Prudent Management of Institutional Funds Act of 2006 provides that, unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until approp…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7e029e58d79212f4320eb354ae06ffee2e3679d3cf29492de38e83abb277d550","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7c4693d6845211d7e640440a9ef680658209c9d7a8dea74190971da2e4dcbde8","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:590318c65eb48fcc9e6ce11e2d3d88602e739008e5956404f5ad906f63fae49d","downloaded_from":"2026-09-09T22:55:50.396Z","last_downloaded_at":"2026-09-09T22:55:50.396Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479479","source_sha256":"3e39924fa796258971acdd4e04a355c55d617cd7d4cdd74ac379477fa736776a"}},{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-958-10-1","para":"10-1","html":"
The standards for reporting financial information in this Subtopic, in combination with Subtopics 958-210, 958-220, and 958-230, focus on the content of financial statements, that is, on the basic information to be provided in financial statements by a not-for-profit entity (NFP). These Subtopics have the following objectives:
  1. a
    Require information that meets the objectives of financial reporting for NFPs
  2. b
    Define what constitutes a complete set of general-purpose financial statements for those entities
  3. c
    Require methods of reporting that information that are all of the following:
    1. 1
      Comprehensive
    2. 2
      Understandable
    3. 3
      Useful for decisions by present and potential resource providers
    4. 4
      Consistent with the conceptual framework.
","snippet":"The standards for reporting financial information in this Subtopic, in combination with Subtopics 958-210, 958-220, and 958-230, focus on the content of financial statements, that is, on the basic information to be provi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2dd4f0e37ceff4e6aebbba8078a8157b7e4e3149df9fa9a7e26188b937c775eb","downloaded_from":"2026-09-09T22:55:53.033Z","last_downloaded_at":"2026-09-09T22:55:53.033Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478275","source_sha256":"2f7bac1ff90414370ec8a6242867ca8cbae374b8ad6573de969e9046b05eb8d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a0d7145c094d52819df2dc70233c19b78cdaf555c8fec3b45de141c5af4b684d","downloaded_from":"2026-09-09T22:55:53.033Z","last_downloaded_at":"2026-09-09T22:55:53.033Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478275","source_sha256":"2f7bac1ff90414370ec8a6242867ca8cbae374b8ad6573de969e9046b05eb8d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03d9322acc9fcd7138c887a518591ff96468eae4e8dc9cd7b012441f2fcddbf6","downloaded_from":"2026-09-09T22:55:53.033Z","last_downloaded_at":"2026-09-09T22:55:53.033Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478275","source_sha256":"2f7bac1ff90414370ec8a6242867ca8cbae374b8ad6573de969e9046b05eb8d5"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"205-958-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 958-10-15. It discusses how not-for-profit entities (NFPs) report assets, liabilities, net assets, revenues, expenses, gains, and losses in financial statements; however, it does not specify when to recognize or how to measure those elements.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 958-10-15. It discusses how not-for-profit entities (NFPs) report assets, liabilities, net assets, revenues, expe…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c48778ee635e252203e4256e298961e8eedcd51be3a2440d753a7b988da29b2","downloaded_from":"2026-09-09T22:55:55.086Z","last_downloaded_at":"2026-09-09T22:55:55.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477667","source_sha256":"23b341ad61f061ddb53f146803f137ab39b99166a8c29c387c2bf97ea07ecf9d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f5b0f916401e68853c658959d8c1057178403943522763cc526751d80f0f7d99","downloaded_from":"2026-09-09T22:55:55.086Z","last_downloaded_at":"2026-09-09T22:55:55.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477667","source_sha256":"23b341ad61f061ddb53f146803f137ab39b99166a8c29c387c2bf97ea07ecf9d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1456a8ea5f660688828706b2546eb0cf9b8306bc91857aabf6dd8be473d17643","downloaded_from":"2026-09-09T22:55:55.086Z","last_downloaded_at":"2026-09-09T22:55:55.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477667","source_sha256":"23b341ad61f061ddb53f146803f137ab39b99166a8c29c387c2bf97ea07ecf9d"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-958-45-1","para":"45-1","html":"
This Subtopic specifies certain basic information to be reported in financial statements of not-for-profit entities (NFPs). The requirements generally are no more stringent than requirements for business entities. The degree of aggregation and order of presentation of items of assets and liabilities in statements of financial position or of items of revenues and expenses in statements of activities of NFPs, although not specified, generally should be similar to those required or permitted for business entities. Particular formats for a statement of financial position, a statement of activities, or a statement of cash flows, are neither prescribed nor prohibited in part because similar prescriptions and proscriptions do not exist for business entities.
","snippet":"This Subtopic specifies certain basic information to be reported in financial statements of not-for-profit entities (NFPs). The requirements generally are no more stringent than requirements for business entities. The de…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d3b222f581f2354c38b222dc1020b5c2b0e84529472b8505e97640b7a7f4d495","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-2","para":"45-2","html":"
The usefulness of information provided by financial statements of NFPs can be vastly improved if certain basic information is classified in comparable ways. NFPs shall do the following:
  1. a
    Report assets and liabilities in reasonably homogeneous groups and sequence or classify them in ways that provide relevant information about their interrelationships, liquidity, and financial flexibility.
  2. b
    Classify and report net assets in two groups—net assets with donor restrictions and net assets without donor restrictions—based on the existence or absence of donor-imposed restrictions. Information about restrictions imposed by donors on the use of contributed assets, including their potential effects on specific assets and on liabilities or classes of net assets, shall be disclosed in accordance with paragraph 958-210-50-3, because it is helpful in assessing the financial flexibility of an NFP.
  3. c
    Aggregate items of revenues, expenses, gains, and losses into reasonably homogeneous groups and classify and report them as increases or decreases in net assets with donor restrictions or net assets without donor restrictions.
  4. d
    Classify and report cash receipts and cash payments as resulting from investing, financing, or operating activities.
","snippet":"The usefulness of information provided by financial statements of NFPs can be vastly improved if certain basic information is classified in comparable ways. NFPs shall do the following:\n(a) Report assets and liabilities …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9af320dc7861f35a370df646251cdae7c707732fa863eaf4ec3d10fa883e36ab","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-3","para":"45-3","html":"
Reporting by fund groups is not a necessary part of external financial reporting; however, this Subtopic does not preclude providing disaggregated information by fund groups.
","snippet":"Reporting by fund groups is not a necessary part of external financial reporting; however, this Subtopic does not preclude providing disaggregated information by fund groups.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4899d598b6ee82bb913e0f9b4bb8576850d18d96d5e76cd4b557a6a2bd8285c9","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:27bfd7988f5794f8feb9f1c29d20516a48b57d6c100abeec9bd88a22d2c0656b","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"block":null,"heading":"Complete Set of Financial Statements","paragraphs":[{"citation":"205-958-45-4","para":"45-4","html":"
A complete set of financial statements of an NFP shall include a statement of financial position as of the end of the reporting period, a statement of activities and a statement of cash flows for the reporting period, and accompanying notes to financial statements.
","snippet":"A complete set of financial statements of an NFP shall include a statement of financial position as of the end of the reporting period, a statement of activities and a statement of cash flows for the reporting period, an…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:efd7280ae4ab1a41f298baf94b3aca19dea64dd357813d303feac6745cef326c","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-5","para":"45-5","html":"
A set of financial statements shall include, either in the body of financial statements or in the accompanying notes, information required by generally accepted accounting principles (GAAP) or required by applicable specialized accounting and reporting principles and practices unless NFPs are specifically exempt from providing that information.
","snippet":"A set of financial statements shall include, either in the body of financial statements or in the accompanying notes, information required by generally accepted accounting principles (GAAP) or required by applicable spec…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8074e6ea866520280e689022d150e0801edabdbb6977ec0afffafec26c993d08","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:02e2294c8af0e266f9947517115483a972c2624f46753e31baa7cabed01419c7","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"block":null,"heading":"Reporting of Expenses by Nature and Function","paragraphs":[{"citation":"205-958-45-6","para":"45-6","html":"
Reporting expenses by nature and function is useful in associating expenses with service efforts and accomplishments of NFPs. All NFPs shall report information about all expenses in one location—on the face of the statement of activities, as a schedule in the notes to financial statements, or in a separate financial statement—as required by paragraph 958-720-45-15. The relationship between functional classification and natural classification for all expenses shall be presented in an analysis that disaggregates functional expense classifications, such as major classes of program services and supporting activities by their natural expense classifications, such as salaries, rent, electricity, supplies, interest expense, depreciation, awards and grants to others, and professional fees. To the extent that expenses are reported by other than their natural classification (such as salaries included in cost of goods sold or facility rental costs of special events reported as direct benefits to donors), they shall be reported by their natural classification in the functional expense analysis. For example, salaries, wages, and fringe benefits that are included as part of the cost of goods sold on the statement of activities shall be included with other salaries, wages, and fringe benefits in the functional expense analysis. External and direct internal investment expenses that have been netted against investment return shall not be included in the functional expense analysis. Certain items that are typically reported in other comprehensive income of for-profit entities, such as those items listed in paragraph 220-10-45-10A, are considered gains or losses and, like other gains and losses, shall not be included in the functional expense analysis. See Note F in paragraph 958-205-55-21 for an example that illustrates the reporting of expenses by nature and function.
","snippet":"Reporting expenses by nature and function is useful in associating expenses with service efforts and accomplishments of NFPs. All NFPs shall report information about all expenses in one location—on the face of the statem…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:910a1a0385a5939fa3ead496318ab66bb53b26debae44470ca2a7a5c11a176fb","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:88a6715b3848c778abdaf9392806936bac267f716f17e17d48b2e0762f876ad8","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"block":null,"heading":"Comparative Financial Statements","paragraphs":[{"citation":"205-958-45-7","para":"45-7","html":"
The guidance provided by Section 205-10-45 encourages but does not require comparative financial statements.
","snippet":"The guidance provided by Section 205-10-45 encourages but does not require comparative financial statements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e31ccfd67754d07ca51ee41170cf2ae1886c25f2661b3304173bb80a1ef2977f","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-8","para":"45-8","html":"
NFPs sometimes present comparative information for a prior year or years only in total rather than by net asset class. Such summarized information may not include sufficient detail to constitute a presentation in conformity with GAAP. If the prior year's financial information is summarized and does not include the minimum information required by this Topic (for example, if the statement of activities does not present revenues, expenses, gains, and losses by net asset class), the nature of the prior-year information shall be described by the use of appropriate titles on the face of the financial statements and in a note to financial statements. The use of appropriate titles includes a phrase such as with summarized financial information for the year ended June 30, 19PY, following the title of the statement or column headings that indicate the summarized nature of the information. Labeling the prior-year summarized financial information for comparative purposes only without further disclosure in the notes to financial statements would not constitute the use of an appropriate title.
","snippet":"NFPs sometimes present comparative information for a prior year or years only in total rather than by net asset class. Such summarized information may not include sufficient detail to constitute a presentation in conform…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b10fb01dd9ae476822946383d4d9cec167cd4f7c1afa929424d56c10cb86787","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:41846446de3fbedb2d7508c047e7e3005bd349c718e73367a071026a5f03b058","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"block":null,"heading":"Expirations of Donor-Imposed Restrictions","paragraphs":[{"citation":"205-958-45-9","para":"45-9","html":"
An NFP shall recognize the expiration of a donor-imposed restriction on a contribution in the period in which the restriction expires. A restriction expires when the stipulated time has elapsed, when the stipulated purpose for which the resource was restricted has been fulfilled, or both. If two or more donor-imposed restrictions that are temporary in nature are imposed on a contribution, the effect of the expiration of those restrictions shall be recognized in the period in which the last remaining restriction has expired.
","snippet":"An NFP shall recognize the expiration of a donor-imposed restriction on a contribution in the period in which the restriction expires. A restriction expires when the stipulated time has elapsed, when the stipulated purpo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:059bd291f06d267318f1bb749e66ef9ce2357cd5fef1111c84594946960d9f7d","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-10","para":"45-10","html":"
For example, a gift of a term endowment that is to be invested for five years has two donor-imposed restrictions that are temporary in nature—a purpose restriction (to be invested) and a time restriction (for a period of five years). After five years of investing, the purpose restriction will be met and the time restriction will lapse.In Year 5, when that term endowment is no longer donor-restricted, a reclassification of net assets shall be reported to reflect the decrease in net assets with donor restrictions and the increase in net assets without donor restrictions.
","snippet":"For example, a gift of a term endowment that is to be invested for five years has two donor-imposed restrictions that are temporary in nature—a purpose restriction (to be invested) and a time restriction (for a period of…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c315cbf2b92407b871f916d0711263900dcb9134d0e63f5f2cc1cbaa87bfda6f","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-10A","para":"45-10A","html":"
In determining when the last of two or more donor-imposed restrictions that are temporary in nature has expired, explicit donor stipulations generally carry more weight than implied restrictions. For example, assume in Year 1 that an entity receives an unconditional promise to give that is payable in two equal installments in Years 2 and 3 with an explicit donor stipulation that its gift is to cover purchases of new equipment for the new School of Chemistry, which is expected to be completed in Year 3. That gift would have a purpose restriction (to be used to acquire new equipment to be housed in the new building), and because the unconditional promise is payable in Years 2 and 3, an entity generally would imply a time restriction (see paragraph 958-605-45-5). If, however, the building was completed early and opened in Year 2 and all of the needed equipment was purchased in Year 2 and exceeded the promised amount, absent an explicit stipulation to the contrary, it would be reasonable to conclude that those purchases fulfilled the donor restriction on the promised gift. The restriction for the purchase of the equipment expires when the equipment is placed in service in accordance with paragraph 958-205-45-12. In addition, a reclassification of net assets would be reported to reflect the decrease in net assets with donor restrictions and the increase in net assets without donor restrictions in Year 2.
","snippet":"In determining when the last of two or more donor-imposed restrictions that are temporary in nature has expired, explicit donor stipulations generally carry more weight than implied restrictions. For example, assume in Y…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:336c102ad2624cf42d49e922d87e792367a5aba3ad6af9ca18c8ce9c087c9641","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-11","para":"45-11","html":"
If an expense is incurred for a purpose for which both net assets without donor restrictions and net assets with donor restrictions are available, a donor-imposed restriction is fulfilled to the extent of the expense incurred unless the expense is for a purpose that is directly attributable to another specific external source of revenue. For example, an expense does not fulfill an existing donor restriction if that expense is incurred for a purpose that is directly attributable to and reimbursed by a sponsored exchange agreement or a conditional award from a government agency, private foundation, or others. Explicit time restrictions, such as those discussed in paragraph 958-205-45-10, and implied time restrictions, such as those discussed in paragraph 958-605-45-5, make net assets unavailable to support expenses until the time restrictions have expired.
","snippet":"If an expense is incurred for a purpose for which both net assets without donor restrictions and net assets with donor restrictions are available, a donor-imposed restriction is fulfilled to the extent of the expense inc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:938699254647e7e7e3a5cf9fe543067782a6a860e98bc118cdccb7c8a3505df1","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-12","para":"45-12","html":"
Unless donor stipulations limit the use of the assets for a period of time or for a particular purpose, donor restrictions on long-lived assets, if any, or cash to acquire or construct long-lived assets are considered to have expired when the assets are placed in service.
","snippet":"Unless donor stipulations limit the use of the assets for a period of time or for a particular purpose, donor restrictions on long-lived assets, if any, or cash to acquire or construct long-lived assets are considered to…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:069ee76da9699004bb2b4e34fb686acc66e6a11843f8651f496a1292a6a53687","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:99358fce1354c79eb7bb093900cf1ac5f9e978d0b01a8675fb0a18fdc1091233","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"block":null,"heading":"Reporting Endowment Funds","paragraphs":[{"citation":"205-958-45-13","para":"45-13","html":"
Endowment funds are established either by a donor or by a governing board and can be either with donor restrictions or without donor restrictions. Endowment funds with donor restrictions are referred to as donor-restricted endowment funds. A donor-restricted endowment fund results from a gift with a stipulation that the resources be invested either for a long, specified period of time or in perpetuity. Those without donor restrictions are referred to as board-designated endowment funds (sometimes called funds functioning as endowment or quasi-endowment funds). A board-designated endowment fund is created when a governing board designates or earmarks a portion of its net assets without donor restrictions to be invested, generally for a long but possibly unspecified period of time.
","snippet":"Endowment funds are established either by a donor or by a governing board and can be either with donor restrictions or without donor restrictions. Endowment funds with donor restrictions are referred to as donor-restrict…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e6d995a9f923357a7b8a209944371e38196464011cfd778425b47d687ab52cc","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-13A","para":"45-13A","html":"
An NFP shall report the net assets of an endowment fund in a statement of financial position within the following two classes of net assets on the basis of the existence or absence of donor-imposed restrictions:
  1. a
    Net assets with donor restrictions. For example, a donor-restricted endowment would be classified as net assets with donor restrictions.
  2. b
    Net assets without donor restrictions. For example, a board-designated endowment fund, which generally results from an internal designation of net assets without donor restrictions, would thus generally be classified as net assets without donor restrictions.
In rare circumstances, a board-designated endowment fund also can include a portion of net assets with donor restrictions. For example, if an NFP is unable to spend donor-restricted contributions in the near term, then the board sometimes considers the long-term investment of these funds.
","snippet":"An NFP shall report the net assets of an endowment fund in a statement of financial position within the following two classes of net assets on the basis of the existence or absence of donor-imposed restrictions:\n(a) Net …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:76f332c2ac35081d34ef44a3f0f4b130835474e937b8469e5b1495a6f8e6a70e","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-13B","para":"45-13B","html":"
When classifying a donor-restricted endowment fund, consideration shall be given to both the donor's explicit stipulations and the applicable laws that extend donor restrictions. Investment return generally is considered free of donor restrictions unless its use is limited by a donor-imposed restriction or by law. In the United States, most donor-restricted endowment funds are subject to an enacted version of the Uniform Prudent Management of Institutional Funds Act of 2006 (UPMIFA) that extends a donor's restriction to use of the funds, including the investment return, until the funds are appropriated for expenditure by the governing board. Thus, if a donor or law imposes a restriction on the investment return, those returns shall be reported within net assets with donor restrictions until appropriated for expenditure. Conversely, for an endowment fund that is created by a governing board (board-designated endowment fund), assuming no other purpose-type restrictions exist on the use of those funds, that original fund and all investment returns are free of donor restrictions and shall be reported in net assets without donor restrictions.
","snippet":"When classifying a donor-restricted endowment fund, consideration shall be given to both the donor's explicit stipulations and the applicable laws that extend donor restrictions. Investment return generally is considered…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:258325058dab71e74e65e942a689913eb1a450c668068cb0f4e3075710a91150","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-13C","para":"45-13C","html":"
Paragraphs
958-205-45-13D through 45-13F
provide guidance for classification of net assets of donor-restricted endowment funds for NFPs that follow an enacted version of UPMIFA.
","snippet":"Paragraphs 958-205-45-13D through 45-13F provide guidance for classification of net assets of donor-restricted endowment funds for NFPs that follow an enacted version of UPMIFA.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fc77dba31272033a04864dfc2ce47fe54106cf81cd159c46eaa505ad7b670c64","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-13D","para":"45-13D","html":"
Donor-restricted endowment funds generally result from a donor's stipulation or by extension of a donor restriction imposed through UPMIFA that limits an NFP's use of an endowment fund. The original gifted amount, any additional gifts to that fund, and any resulting investment returns shall initially be classified as net assets with donor restrictions. Therefore, unless stated otherwise in the gift instrument, the assets in a donor-restricted endowment fund are donor-restricted assets until they are appropriated for expenditure by the NFP's governing board. Donors may provide specific instructions on spending from a donor-restricted endowment fund or from the components of investment return generated from the fund.
","snippet":"Donor-restricted endowment funds generally result from a donor's stipulation or by extension of a donor restriction imposed through UPMIFA that limits an NFP's use of an endowment fund. The original gifted amount, any ad…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cb757cf5326c551f0111381025b8766b8fc52b64d3fac678d34b595259384c08","downloaded_from":"2026-09-09T22:55:59.657Z","last_downloaded_at":"2026-09-09T22:55:59.657Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478255","source_sha256":"2c8edcb4fce397e33c25fd95e0142e29a027b66f6e51967ca74afe85e5d3e37f"}},{"citation":"205-958-45-13E","para":"45-13E","html":"
The amount of net assets with donor restrictions in the donor-restricted endowment fund is reduced when the governing board appropriates for expenditure funds from the endowment fund. Upon appropriation for expenditure, the restriction expires to the extent of the amount appropriated as long as all of the time restrictions have lapsed and all of the purpose restrictions have been met. At that time, the appropriated amount is reclassified from net assets with donor restrictions to net assets without donor restrictions in accordance with paragraph 958-205-45-9. However, if purpose restrictions from a donor have not yet been met, those funds shall remain in net assets with donor restrictions until those purpose restrictions have been satisfied.
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In the absence of interpretation of the phrase appropriated for expenditure in subsection 4(a) of UPMIFA (see paragraph 958-205-05-10) by legal or regulatory authorities (for example, court decisions or interpretations by state attorneys general), for purposes of the guidance in this Subtopic, appropriation for expenditure is deemed to occur upon approval for expenditure, unless approval is for a future period, in which case appropriation is deemed to occur when that period is reached. Approval for expenditure may occur through different means within and across NFPs. For example, expenditures could be approved as part of a formal, annual budget. Expenditures also could be approved during the year as unexpected needs arise (such as for emergency relief efforts).
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As discussed in paragraph 958-205-05-8, some NFPs follow trust law. For donor-restricted endowment funds that are subject to trust law, typically at least, the amount of the original gift(s) and any gains or net appreciation of the fund are not considered to be available for expenditure. Generally, interest, dividends, rents, or other forms of ordinary income are available for spending and are classified as net assets without donor restrictions unless a purpose or other donor restriction exists on use of the investment income.
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If a donor-restricted endowment fund is an underwater endowment fund, the accumulated losses shall be included together with that fund in net assets with donor restrictions. An NFP shall disclose the required information in accordance with paragraph 958-205-50-2.
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See Note E of Example 1 (paragraph 958-205-55-21) for an illustrative disclosure about endowment funds and investment management policies.
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See Example 1 (paragraph 958-205-55-2) for an illustration of a statement of activities, showing support from both a donor-restricted endowment fund and a board-designated endowment fund, along with a statement of financial position, statement of cash flows, and example notes for an NFP.
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An NFP shall present contributed nonfinancial assets as a separate line item in the statement of activities, apart from contributions of cash and other financial assets, as discussed in paragraph 958-605-45-7A.
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The financial statements shall provide a description of the nature of the not-for-profit entity's (NFP's) activities, including a description of each of its major classes of programs. If not provided in the notes to financial statements, the description can be presented on the statement of activities (for example, using column headings).
","snippet":"The financial statements shall provide a description of the nature of the not-for-profit entity's (NFP's) activities, including a description of each of its major classes of programs. If not provided in the notes to fina…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cac10f2e3b300ffbfb005b51e9d30267c9b7e1f76c4485c4f4967aabb0593751","downloaded_from":"2026-09-09T22:56:03.410Z","last_downloaded_at":"2026-09-09T22:56:03.410Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477884","source_sha256":"8aaf53856bfe14928020d4b341f779b2d797f278c071b051e2b479a4e2d01f45"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:64f6543c3089891664c6aa1e4f76177c04fc6c53330ca267374f62f051bca2ab","downloaded_from":"2026-09-09T22:56:03.410Z","last_downloaded_at":"2026-09-09T22:56:03.410Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477884","source_sha256":"8aaf53856bfe14928020d4b341f779b2d797f278c071b051e2b479a4e2d01f45"}},{"block":null,"heading":"Reporting Endowment Funds","paragraphs":[{"citation":"205-958-50-1A","para":"50-1A","html":"
An NFP shall disclose information to enable users of financial statements to understand all of the following about its endowment funds (both donor restricted and board designated):
  1. a
    Net asset classification (for example, net assets with donor restrictions or net assets without donor restrictions)
  2. b
    Net asset composition (for example, board-designated endowment funds or donor-restricted endowment funds)
  3. c
    Changes in net asset composition
  4. d
    Spending policies
  5. e
    Related investment policies.
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At a minimum, an NFP shall disclose all of the following information for each period for which it presents financial statements:
  1. a
    A description of the governing board's interpretation of the law or laws that underlie the NFP's net asset classification of donor-restricted endowment funds, including its interpretation of the ability to spend from underwater endowment funds.
  2. b
    A description of the NFP's policy or policies for the appropriation of endowment assets for expenditure (its endowment spending policy or policies), including its policy, and any actions taken during the period, concerning appropriation from underwater endowment funds.
  3. c
    A description of the NFP's endowment investment policies, including all of the following:
    1. 1
      Return objectives and risk parameters
    2. 2
      How return objectives relate to the NFP's endowment spending policy or policies
    3. 3
      The strategies employed for achieving return objectives.
  4. d
    The composition of the NFP's endowment by net asset class at the end of the period, in total and by type of endowment fund, showing donor-restricted endowment funds separately from board-designated endowment funds.
  5. e
    A reconciliation of the beginning and ending balance of the NFP's endowment, in total and by net asset class, including, at a minimum, all of the following line items that apply:
    1. 1
      Investment return, net
    2. 2
      Contributions
    3. 3
      Amounts appropriated for expenditure
    4. 4
      Subparagraph superseded by Accounting Standards Update No. 2016-14.
    5. 5
      Other changes.
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If an NFP is subject to a donor restriction or applicable laws that its governing board interprets as requiring the maintenance of purchasing power for donor-restricted endowment funds, the NFP shall periodically adjust the disclosed amount that is required to be maintained either by the donor or by law to reflect that interpretation to maintain the purchasing power of the endowment fund in perpetuity. Under those circumstances, unless a donor provides an amount or an index, an NFP shall use the inflation (deflation) index (or indexes) that it deems most relevant for adjusting that amount (for example, the Consumer Price Index or the Higher Education Price Index).
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For each period for which a statement of financial position is presented, an NFP shall disclose each of the following, in the aggregate, for all underwater endowment funds:
  1. a
    The fair value of the underwater endowment funds
  2. b
    The original endowment gift amount or level required to be maintained by donor stipulations or by law that extends donor restrictions
  3. c
    The amount of the deficiencies of the underwater endowment funds ((a) less (b)).
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Example 3 (see paragraphs
958-205-55-31 through 55-52
) illustrates the application of the disclosure requirements in paragraphs
958-205-50-1A through 50-2
.
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If an NFP discloses in its financial statements a ratio of fundraising expenses to amounts raised, it also shall disclose how it computes that ratio.
","snippet":"If an NFP discloses in its financial statements a ratio of fundraising expenses to amounts raised, it also shall disclose how it computes that ratio.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3cec2204fdc5693ecfa4129002a6decda927574bfc08e9d920178e065ac5c31d","downloaded_from":"2026-09-09T22:56:03.410Z","last_downloaded_at":"2026-09-09T22:56:03.410Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477884","source_sha256":"8aaf53856bfe14928020d4b341f779b2d797f278c071b051e2b479a4e2d01f45"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:23732bba6f38c7ef2ea9718216a36195b033903cea4674b1e34641d524788a51","downloaded_from":"2026-09-09T22:56:03.410Z","last_downloaded_at":"2026-09-09T22:56:03.410Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477884","source_sha256":"8aaf53856bfe14928020d4b341f779b2d797f278c071b051e2b479a4e2d01f45"}},{"block":null,"heading":"Comparative Financial Statements","paragraphs":[{"citation":"205-958-50-4","para":"50-4","html":"
If the prior year's financial information is summarized and does not include the minimum information required by the Not-for-Profit Entities Topic (for example, if the statement of activities does not present revenues, expenses, gains, and losses by net asset class), the nature of the prior-year information shall be described by the use of appropriate titles on the face of the financial statements and in a note to financial statements (see paragraph 958-205-45-8).
","snippet":"If the prior year's financial information is summarized and does not include the minimum information required by the Not-for-Profit Entities Topic (for example, if the statement of activities does not present revenues, e…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7653ebb546e57a0be792b1d2dbf84e78721301eb0673bcf0f16559f8469e5094","downloaded_from":"2026-09-09T22:56:03.410Z","last_downloaded_at":"2026-09-09T22:56:03.410Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477884","source_sha256":"8aaf53856bfe14928020d4b341f779b2d797f278c071b051e2b479a4e2d01f45"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ef3f2e2739fb3d7ec6ad611516fe50d725b3c27888549e395c59a0aca76e293d","downloaded_from":"2026-09-09T22:56:03.410Z","last_downloaded_at":"2026-09-09T22:56:03.410Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477884","source_sha256":"8aaf53856bfe14928020d4b341f779b2d797f278c071b051e2b479a4e2d01f45"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d36e2cd3ca5cae60e0f07674866e5c06828c0993f39a5599b1cae162e234d2bb","downloaded_from":"2026-09-09T22:56:03.410Z","last_downloaded_at":"2026-09-09T22:56:03.410Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477884","source_sha256":"8aaf53856bfe14928020d4b341f779b2d797f278c071b051e2b479a4e2d01f45"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Implementation Guidance","paragraphs":[{"citation":"205-958-55-1","para":"55-1","html":"
This paragraph provides implementation guidance on the application of paragraphs
958-205-45-13C through 45-13F
. Enacted versions of the Uniform Prudent Management of Institutional Funds Act of 2006 vary across jurisdictions, so a not-for-profit entity (NFP) would have to assess the specific law applicable to its operations for guidance. Other sources that may be helpful in that assessment could include discussion that occurred in the legislative committees leading to the law adopted in a particular state, announcements from the state attorney general, a consensus of learned lawyers in the state, or similar information. In the absence of new legislation, clarifying court decisions, additional guidance issued by the state attorney general, or similar developments, the governing board's interpretation of the relevant law shall be consistent from year to year.
","snippet":"This paragraph provides implementation guidance on the application of paragraphs 958-205-45-13C through 45-13F. Enacted versions of the Uniform Prudent Management of Institutional Funds Act of 2006 vary across jurisdicti…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:67e82c7003f09229905dfe9a319f7d5019e55ed8309c33cbc5d752b07a72fe31","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a51ae604170ab7f2224d639c6ae4244d730ccfbebe7c6e7620f879691d63fbcc","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"205-958-55-1A","para":"55-1A","html":"
This Section, which is an integral part of the requirements of this Subtopic, provides general guidance to be used in the presentation of a full set of financial statements, including certain notes to the financial statements, by an NFP.
","snippet":"This Section, which is an integral part of the requirements of this Subtopic, provides general guidance to be used in the presentation of a full set of financial statements, including certain notes to the financial state…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c9c4d1506054f49d7d43eab0898e4ab3a17d2c5ef6e204efd185c1cbafc9f8b5","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-2","para":"55-2","html":"
This Example provides illustrations of statements of financial position, statements of activities, statements of cash flows, and selected notes to the financial statements for Not-for-Profit Entity A. The terms statement of financial position and statement of activities indicate the content and purpose of the respective statements and serve as possible titles for those statements. Other appropriately descriptive titles may also be used. For example, a statement reporting financial position could be called a balance sheet. Current practice and the statement's purpose suggest, however, that a statement of cash flows only be titled statement of cash flows. These illustrations are intended as examples only; they present only a few of the permissible formats. Other formats or levels of detail may be appropriate for certain circumstances. For example, a schedule of expenses by nature and function is illustrated in the notes to the financial statements but also may be presented on the face of the statement of activities or as a separate statement. Not-for-profit entities (NFPs) are encouraged to provide information in ways that are most relevant and understandable to donors, creditors, and other external users of financial statements. NFPs typically provide comparative financial statements; however, for simplicity, the illustrative statements of activities and statements of cash flows provide information for a single period.
","snippet":"This Example provides illustrations of statements of financial position, statements of activities, statements of cash flows, and selected notes to the financial statements for Not-for-Profit Entity A. The terms statement…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c0589088b656ce20dc02ccb2e383cbb81c6014b5f45128e89e5d3c578a78359","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-3","para":"55-3","html":"
The illustrations also include certain notes to financial statements for matters discussed in Subtopics 958-210, 958-220, and 958-230. The illustrative notes are not intended to illustrate compliance with all generally accepted accounting principles (GAAP) and specialized accounting and reporting principles and practices.
","snippet":"The illustrations also include certain notes to financial statements for matters discussed in Subtopics 958-210, 958-220, and 958-230. The illustrative notes are not intended to illustrate compliance with all generally a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f232dfcaf01891e320826b3178aac9d93c14e955d9d51fe8201fd96da2e43e19","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-4","para":"55-4","html":"
Shading is used to highlight certain basic totals that must be reported in financial statements to comply with the provisions of Subtopics 958-210, 958-220, and 958-230. Together they require not only reporting those certain basic totals but also reporting components of those aggregates; for example, they require reporting information about the gross amounts of items of revenues and expenses and cash receipts and payments.
","snippet":"Shading is used to highlight certain basic totals that must be reported in financial statements to comply with the provisions of Subtopics 958-210, 958-220, and 958-230. Together they require not only reporting those cer…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2e41bf4bc83b8907c0f215a1e1dd30805627177c30721722ea67f563f7efd455","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-5","para":"55-5","html":"
The following facts and transactions are reflected in the illustrative financial statements in Example 1. The transactions are presented by class of net assets to facilitate locating their effects in the statements and notes. The transactions in (a) through (hh) affect net assets without donor restrictions. The transactions in (i) through (n), (s), (t), and (w) affect net assets with donor restrictions. The transactions in (hhh), (o) through (r), and (u) affect both classes of net assets.
  1. a
    Not-for-Profit Entity A invested cash in excess of daily requirements in short-term investment instruments. Interest earned on these investments totaled $850, which is included in the net investment return on the statement of activities. The governing board previously designated a portion of net assets without donor restrictions for long-term investment (quasi-endowment). Those assets earned $5,800, comprising $2,000 of dividends, interest, and rents and $3,800 of realized and unrealized net gains.
  2. b
    Not-for-Profit Entity A received contributions without donor restrictions of the following: cash, $5,120; recognizable contributed services, $300; other consumable assets, $1,410; equipment, $140; and unconditional promises to give to support activities of 20X1, $1,020.
  3. c
    Equipment with an original cost of $660 and accumulated depreciation of $330 was destroyed in a fire. Insurance proceeds of $250 were received. The equipment was originally purchased with assets without associated donor restrictions.
  4. d
    All conditions of a prior year's grant of $650 were substantially met. The grant proceeds were originally recorded as a refundable advance.
  5. e
    Not-for-Profit Entity A made a payment of $425 on its prior year unconditional grant to an unrelated agency.
  6. f
    Not-for-Profit Entity A repaid $1,140 of its notes payable. Interest of $32 was incurred and paid on these notes.
  7. g
    Not-for-Profit Entity A repaid $1,000 of its long-term debt. Interest of $350 was incurred and paid on the debt.
  8. h
    Depreciation amounted to $3,200.
  9. hh
    Not-for-Profit Entity A sold equipment that was fully depreciated for $200.
  10. hhh
    Not-for-Profit Entity A's financial assets consisted of cash and cash equivalents, short-term investments, accounts and interest receivable, contributions receivable, assets restricted to investment in land, buildings, and equipment, and long-term investments. The $193,490 of donor-restricted net assets included the net assets resulting from contributions receivable of $1,000, which were without purpose restrictions and were due within one year. The remaining amounts of contributions receivable were either purpose-restricted or due in greater than one year. In addition, amounts made unavailable by the governing board included $36,600 of board-designated long-term investments. The $1,300 liquidity reserve, created in a prior year when the governing board designated net assets without donor restrictions, was included as a reconciling item in Not-for-Profit Entity A's note on liquidity risk and the availability of resources because the intention of the designation was to support unanticipated liquidity needs and not general expenditures.
  11. i
    Not-for-Profit Entity A received contributions with donor restrictions as follows.
    • Restricted to: Cash Consumable Assets Promises to Give Program purposes \" $2,170 \" $960 $920 Use in future periods 740 1000 \"Acquisition of land, buildings, and equipment\" 770 \" 1,380 \"
  12. ii
    The composition of assets restricted to investment in land, buildings, and equipment as of June 30, 20X1, and 20X0, is shown below. The change in restricted cash below represents a purchase of investments restricted to investment in land, buildings, and equipment.
    • 6/30/20X1 6/30/20X0 Restricted cash $60 $160 Contributions receivable \" 2,440 \" \" 1,500 \" Investments \" 2,710 \" \" 2,900 \" \" $5,210 \" \" $4,560 \"
  13. j
    In addition, a donor transferred cash of $200 to set up an annuity trust having a related annuity obligation with a present value of $100. Upon the death of the beneficiary, the remaining interest will be used for a donor-restricted purpose.
  14. k
    In addition, a donor contributed cash of $70 to create a term endowment. At the end of 15 years the endowment assets can be used to support Not-for-Profit Entity A's operations.
  15. l
    Not-for-Profit Entity A made payments of $145 to beneficiaries of annuity trust agreements.
  16. m
    A donor contributed a paid-up life insurance policy with a cash surrender value of $80. Upon the death of the insured, the death benefit must be used to create a donor-restricted endowment fund. There was no change in the cash surrender value between the date of the gift and the end of the fiscal year.
  17. n
    A donor contributed cash of $200 to create a donor-restricted endowment fund. The income is restricted to use for Program A activities.
  18. o
    Not-for-Profit Entity A collected promises to give of $3,055: $980 of amounts for general purposes, $610 of amounts restricted to future periods, $1,025 of amounts restricted to program purposes, and $440 of amounts for acquisition of land, buildings, and equipment.
  19. p
    Not-for-Profit Entity A utilized all of the $1,410 consumable assets contributed for general purposes, and $350 of the $960 consumable assets contributed for program purposes.
  20. q
    A trust annuitant died and the $400 remainder interest became available for the general use of Not-for-Profit Entity A. Management decided to invest the remainder interest in short-term investments. The actuarial gain on death of the annuitant is included in the actuarial loss on annuity obligations.
  21. r
    Not-for-Profit Entity A acquired and placed in service $1,500 of equipment for Program A; net assets with donor restrictions were available at the time the equipment was purchased.
  22. s
    Net investment return of $18,000 was earned from the pooled donor-restricted endowment. This comprised $12,000 of realized and unrealized net gains and $6,000 of interest and dividends. Additionally, $300 of interest and dividends was earned from separately invested donor-restricted endowment funds and annuity trust assets, which are required to be reinvested. The original endowment gift amount as adjusted to the level required by donor stipulations or by law that extends donor restrictions was $122,337.
  23. t
    Not-for-Profit Entity A reinvested the yield of $120 on a donor-restricted endowment fund that requires income to be added to the original gift until the fund's value is $2,500.
  24. u
    Not-for-Profit Entity A's governing board appropriated for current operations $7,500 of net assets with donor restrictions from the donor-restricted endowment fund. The full amount appropriated was reclassified to net assets without donor restrictions in the current year because the purpose restrictions on $3,000 of the appropriated amount were met in the current year and there were no purpose restrictions on the remaining $4,500.
  25. v
    Not-for-Profit Entity A follows an enacted version of UPMIFA.
  26. w
    None of Not-for-Profit Entity A's endowment funds were underwater as of the date of the financial statements.
","snippet":"The following facts and transactions are reflected in the illustrative financial statements in Example 1. The transactions are presented by class of net assets to facilitate locating their effects in the statements and n…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f5b9a3466f1931b34c125929d2a538365feb69b4555e891a4ab19aca288aec4f","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-6","para":"55-6","html":"
The following illustrates the requirements of Subtopic 958-210. Comparative statements of financial position are provided to facilitate understanding of the statement of activities and the statement of cash flows.
","snippet":"The following illustrates the requirements of Subtopic 958-210. Comparative statements of financial position are provided to facilitate understanding of the statement of activities and the statement of cash flows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0e8b3aa6d838916114bcfbeff150ce5cfc96d0ce46831aab8825bd33abed64e4","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-7","para":"55-7","html":"
A statement of financial position that sequences assets and liabilities based on their relative liquidity is presented. For instance, cash and cash equivalents of donor-restricted endowment funds held temporarily until suitable long-term investment opportunities are identified are included in the classification long-term investments. Similarly, cash and contributions receivable restricted by donors to investment in land, buildings, and equipment are not included with the line items cash and cash equivalents or contributions receivable. Rather, those items are reported as assets restricted to investment in land, buildings, and equipment and are sequenced closer to land, buildings, and equipment. (Pursuant to paragraph 958-210-50-3, the kind of asset is required to be described in the notes to financial statements because its nature is not clear from the description on the face of the statement of financial position. That note is not illustrated in this Example.) Assets and liabilities also may be arrayed by their relationship to net asset classes, classified as current and noncurrent, or arranged in other ways.
","snippet":"A statement of financial position that sequences assets and liabilities based on their relative liquidity is presented. For instance, cash and cash equivalents of donor-restricted endowment funds held temporarily until s…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:732bf59048faee955573f540e523c001a900f0fd79c25ef281aac6c5bc472df9","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-8","para":"55-8","html":"
For an alternative presentation of the net asset section of a statement of financial position, see Example 1 (paragraph 958-210-55-3).
","snippet":"For an alternative presentation of the net asset section of a statement of financial position, see Example 1 (paragraph 958-210-55-3).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b1d3278cf6a4e1fd906e555943b5dd31b1cdd03adc628c4eca1348c6036f682a","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-9","para":"55-9","html":"
The following illustrates a statement of financial position for Not-for-Profit Entity A.
","snippet":"The following illustrates a statement of financial position for Not-for-Profit Entity A.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5997e7715940d87c98444e4571f7c8253d549c1e44eb9e8888af8c8f1f3d3aee","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-10","para":"55-10","html":"
The following illustrates the requirements of Subtopic 958-220. Three formats of statements of activities are presented. To facilitate comparison of the formats, the same level of aggregation is used in each of the statements of activities. The guidance in Subtopic 958-220 permits flexibility to present information in a number of ways as long as the requirements are met. Each format has certain advantages, as follows:
  1. a
    Format A reports information in a single column. That format most easily accommodates presentation of multiyear comparative information.
  2. b
    Format B reports the same information in columnar (or multicolumn) format with a column for each class of net assets. Use of a total column is optional as long as the change in total net assets is presented in accordance with paragraph 958-210-45-1. That format makes evident that the effects of expirations on donor restrictions result in reclassification of net assets. It also accommodates presentation of aggregated information about contributions and investment return for the entity as a whole. However, care is needed for labels and headings to ensure that they clearly communicate all columns and subtotals.
  3. c
    Format C reports information in two statements with summary amounts from a statement of revenues, expenses, and other changes in net assets without donor restrictions (Part 1 of 2) and a statement of changes in net assets (Part 2 of 2). Alternative formats for the statement of changes in net assets—a single-column and a multicolumn or columnar—are illustrated. The two-statement format focuses attention first on changes in net assets without donor restrictions. That format may be preferred by membership organizations and other NFPs that view certain transactions and events, including the receipts of donor-restricted revenues and gains from contributions and investment return, as incidental or insignificant to their daily operations.
","snippet":"The following illustrates the requirements of Subtopic 958-220. Three formats of statements of activities are presented. To facilitate comparison of the formats, the same level of aggregation is used in each of the state…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3a0cbf4784486c49e3c88d8b8cc7ea621be6d05d43c081be94590297b5025fdc","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-11","para":"55-11","html":"
The three illustrative statements of activities show items of revenues and gains first, then expenses, then losses; reclassification of net assets, which must be shown separately, is reported with revenues and gains. Those items could be arranged in other ways and other subtotals may be included. For example, the items may be sequenced using any one of the following sequences:
  1. a
    Revenues, expenses, gains and losses, and reclassification of net assets shown last
  2. b
    Certain revenues, less directly related expenses, followed by a subtotal, then other revenues, other expenses, gains and losses, and reclassification of net assets
  3. c
    Expenses followed by revenues, gains and losses, and the reclassification of net assets.
Although in the illustrative statements of activities, expenses are reported by nature in the single-column format example and by function in the multicolumn format example, expenses may be reported in the statement of activities by either natural classification or functional classification or by both.
","snippet":"The three illustrative statements of activities show items of revenues and gains first, then expenses, then losses; reclassification of net assets, which must be shown separately, is reported with revenues and gains. Tho…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4435de17c546efb9c5c8b9dde0e84108483af1f7890784582fb09dc3d314ff19","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-12","para":"55-12","html":"
The following provide additional illustrations of statements of activities:
  1. a
    Example 1 in Subtopic 958-220 (see paragraph 958-220-55-5) provides an illustration that shows how items may be sequenced to distinguish between operating and nonoperating activities or to make other distinctions, if desired.
  2. b
    Example 2 in Subtopic 958-220 (see paragraph 958-220-55-7) illustrates the display of an appropriately labeled subtotal for change in a class of net assets before the effects of a discontinued operation.
  3. c
    Example 3 in Subtopic 958-220 (see paragraph 958-220-55-8) provides three possible methods of displaying fundraising efforts in the revenue section of the statement of activities if an NFP acts as an agent, trustee, or intermediary in raising resources for another.
  4. d
    Example 1 in Subtopic 958-320 (see paragraph 958-320-55-4) provides an illustration of an NFP that presents:
    1. 1
      Net investment return
    2. 2
      Appropriation of funds from the quasi-endowment
    3. 3
      Appropriation of funds from a donor-restricted endowment fund in which the purpose restrictions on the appropriated amount have been met during the period.
","snippet":"The following provide additional illustrations of statements of activities:\n(a) Example 1 in Subtopic 958-220 (see paragraph 958-220-55-5) provides an illustration that shows how items may be sequenced to distinguish bet…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d31a471640cfcfd4340c5e4301d9ccb321ded913122287e0b67c00ff1caa7a6b","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-13","para":"55-13","html":"
Format A (a single-column format) is as follows.
","snippet":"Format A (a single-column format) is as follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a9dbf4bf2b1be98cadcb9577e78a2751d76f4af473b7b90d6fffb43debbdccef","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-14","para":"55-14","html":"
Format B (a multicolumn format) is as follows.
","snippet":"Format B (a multicolumn format) is as follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ee8d155c3bcf3ad2ddc8345100e519088fb5438c8040b74fb019371ed888804a","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-15","para":"55-15","html":"
Format C, Part 1 of 2 is as follows.
","snippet":"Format C, Part 1 of 2 is as follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:51fb0f0e9d8eb6da7e70142f660fffec8ada8b2d6115b39e213ed860b9326e1b","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-16","para":"55-16","html":"
Format C, Part 2 of 2 is as follows.
","snippet":"Format C, Part 2 of 2 is as follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eb1ba3fbe3003c9a50308ae4c644c91e223ca170e851fd7ae5fd28eeb66b0287","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-17","para":"55-17","html":"
Format C, Part 2 of 2 (Alternate) is as follows.
","snippet":"Format C, Part 2 of 2 (Alternate) is as follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1f07d3b49f88dae67b98018a7ffc48015ed50231427e02771b2a1da4938331e0","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-18","para":"55-18","html":"
The following illustrates the requirements of Subtopic 958-230. Statements of cash flows are illustrated using both the direct and indirect methods of reporting cash flow from operating activities. An NFP may choose either method of reporting cash flows from operating activities. If the direct method is used, a reconciliation to the indirect method (as illustrated in paragraph 230-10-55-10) may be reported but is not required.
","snippet":"The following illustrates the requirements of Subtopic 958-230. Statements of cash flows are illustrated using both the direct and indirect methods of reporting cash flow from operating activities. An NFP may choose eith…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:93d6ebddee45ba6800391efbe5481e56ba6aee4c68fcd6fab811373736fb9d2c","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-19","para":"55-19","html":"
The direct method is as follows.
","snippet":"The direct method is as follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d2f0e95ed0877c57e04b6af2ce00baf4d6cc1a680b8d7587d61c694f76de3fed","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-20","para":"55-20","html":"
The indirect method is as follows.
","snippet":"The indirect method is as follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:735b12fa8cd30a260eae04830a04f1dd153142fa082a314c49b93c50235e868e","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-21","para":"55-21","html":"
The following are illustrative notes to financial statements. Note B provides information required by paragraph 958-210-45-9. Note DD provides information required by paragraph 958-210-45-11. Note F provides information required by paragraph 958-720-45-15. Note G provides information required by paragraphs 958-210-45-7(c) and 958-210-50-1A. Note D and Note E provide information that is useful to users but is not explicitly required. Note H provides information required by paragraphs
230-10-50-7 through 50-8
. Comparative statements of financial position are provided in the illustrative example in paragraph 958-205-55-9 only to facilitate understanding of the statement of cash flows. For purposes of applying paragraphs
230-10-50-7 through 50-8
to this illustrative example, assume that the year ended June 30, 20X1, is the only period for which a statement of financial position is presented. Additional disclosure examples for contributed nonfinancial assets recognized are illustrated in paragraph 958-605-55-70U. Additional endowment disclosure requirements are illustrated in Example 3 included in this Section. All amounts are in thousands.
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This Example illustrates application of the disclosure guidance in paragraphs
958-205-50-1A through 50-2
by an NFP (NFP B) subject to an enacted version of the Uniform Prudent Management of Institutional Funds Act of 2006 even though that disclosure guidance applies whether or not an NFP is subject to an enacted version of that law.
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This Example makes all of the following assumptions:
  1. a
    NFP B is issuing a full set of financial statements for both the current fiscal year, 200Y, and the previous fiscal year, 200X.NFP B is required to disclose the information in paragraph 958-205-50-1B for each period for which it presents financial statements; however, for simplicity, the disclosures provide information for a single period, 200Y.
  2. b
    NFP B has a sizable endowment.
  3. c
    Before 200Y, an enacted version of the Uniform Prudent Management of Institutional Funds Act of 2006 became effective for the State to whose law NFP B is subject.
  4. d
    Subparagraph superseded by Accounting Standards Update No. 2016-14.
  5. e
    None of the funds have donor stipulations that override the restriction described in subsection 4(a) of the law, which the enacted version in the State included verbatim: \"unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution.\"
  6. f
    Subparagraph superseded by Accounting Standards Update No. 2016-14.
  7. g
    Subparagraph superseded by Accounting Standards Update No. 2016-14.
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The following table contains assumptions about NFP B's endowment-related activities in the year 200Y.
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NFP B's disclosure of its endowment follows.
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NFP B's disclosure of its interpretation of the law or laws that underlie NFP B's net asset classification of donor-restricted endowment funds follows as required by paragraph 958-205-50-1B(a).
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NFP B's disclosure of its endowment net asset composition by type of fund as of June 30, 200Y, follows as required by paragraph 958-205-50-1B(d).
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NFP B's disclosure of a reconciliation of the beginning and ending balances of the endowment, in total and by net asset classes, for the fiscal year ended June 30, 200Y, follows as required by paragraph 958-205-50-1B(e).
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NFP B's presentation under paragraphs
958-210-45-9 through 45-10
and disclosure under paragraph 958-210-50-3 follows.
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The illustrative disclosure in the preceding paragraph includes only the net assets with donor restrictions within NFP B's endowment. A typical disclosure would be presented outside an endowment note disclosure and include all of the net assets classified within net assets with donor restrictions.
","snippet":"The illustrative disclosure in the preceding paragraph includes only the net assets with donor restrictions within NFP B's endowment. A typical disclosure would be presented outside an endowment note disclosure and inclu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b404726336edef0f43ca619b9272c9a5b4ff60e282d11ccb79e4a462b656e3a9","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-49","para":"55-49","html":"
NFP B's disclosure under paragraph 958-205-50-2 follows.
","snippet":"NFP B's disclosure under paragraph 958-205-50-2 follows.\nUnderwater Endowment Funds\nFrom time to time, the fair value of assets associated with individual donor-restricted endowment funds may fall below the level that th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:af3b02aef4a264dc817482a5d0098eec2ad07cb8bf07a379cfd0fdbab7afce29","downloaded_from":"2026-09-09T22:56:06.531Z","last_downloaded_at":"2026-09-09T22:56:06.531Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477852","source_sha256":"f4d5a069164e2118d0f8b6eff4884baa45f43361b7854e86e7003a3a5bc1fe89"}},{"citation":"205-958-55-50","para":"55-50","html":"
NFP B's disclosure under paragraph 958-205-50-1B(c)(1) follows.
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NFP B's disclosure under paragraph 958-205-50-1B(c)(3) follows.
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NFP B's disclosure under paragraph 958-205-50-1B(b) and (c)(2) follows.
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For disclosures about the principal services performed by a not-for-profit entity (NFP) and the revenue sources for the entity's services, see paragraph 275-10-50-2.
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Paragraph superseded on 03/23/2010 after the end of the transition period stated in FASB Staff Position FAS 117-1, Endowments of Not-for-Profit Organizations: Net Asset Classification of Funds Subject to an Enacted Version of the Uniform Prudent Management of Institutional Funds Act, and Enhanced Disclosures for All Endowment Funds.
","snippet":"Paragraph superseded on 03/23/2010 after the end of the transition period stated in FASB Staff Position FAS 117-1, Endowments of Not-for-Profit Organizations: Net Asset Classification of Funds Subject to an Enacted Versi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:830a96fba954cafeb6b5a3d5da3c602497286bdd858ad7ef0446dd2fc9840e0a","downloaded_from":"2026-09-09T22:56:13.307Z","last_downloaded_at":"2026-09-09T22:56:13.307Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479062","source_sha256":"7a39775bd98a28e32ef5e9126e58a89471b91a043406df85e3277dd0500fb407"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5e81ace15670bb58b436ab1e1607fd5f9ffc376d67664a848efc2d448a5ad161","downloaded_from":"2026-09-09T22:56:13.307Z","last_downloaded_at":"2026-09-09T22:56:13.307Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479062","source_sha256":"7a39775bd98a28e32ef5e9126e58a89471b91a043406df85e3277dd0500fb407"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:af38c36595611ef0800d498b2f62c3e7ba5f171f9c869f2b845ca01bfcd7f7e0","downloaded_from":"2026-09-09T22:56:13.307Z","last_downloaded_at":"2026-09-09T22:56:13.307Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479062","source_sha256":"7a39775bd98a28e32ef5e9126e58a89471b91a043406df85e3277dd0500fb407"}}],"enrichment":{"summary":"ASC 958-205 governs the presentation of a not-for-profit entity's general-purpose financial statements. A complete set consists of a statement of financial position, a statement of activities, a statement of cash flows, and notes (958-205-45-4), with net assets classified in two minimum classes—net assets with donor restrictions and net assets without donor restrictions (958-205-45-2(b)). It also prescribes when donor restrictions expire, how endowment funds (including those under UPMIFA) are classified, and the required endowment and underwater endowment disclosures.","key_points":["A complete set of NFP financial statements includes a statement of financial position at period end, a statement of activities and statement of cash flows for the period, plus accompanying notes (958-205-45-4).","NFPs must classify and report net assets in two groups—with donor restrictions and without donor restrictions—based on the existence or absence of donor-imposed restrictions; the two classes are a minimum scheme that may be further disaggregated (958-205-45-2(b); 958-205-05-6B).","All NFPs must report information about all expenses in one location (face of the statement of activities, a note schedule, or a separate statement) in an analysis showing the relationship of functional to natural classifications (958-205-45-6; 958-720-45-15).","Expiration of a donor-imposed restriction is recognized in the period the restriction expires—when the stipulated time elapses or the stipulated purpose is fulfilled—and where multiple temporary restrictions exist, when the last one expires (958-205-45-9); restrictions on long-lived assets expire when the assets are placed in service (958-205-45-12).","Under an enacted version of UPMIFA, the original gift, subsequent gifts, and investment returns of a donor-restricted endowment fund are net assets with donor restrictions until appropriated for expenditure by the governing board, at which point the appropriated amount is reclassified if time and purpose restrictions are met (958-205-45-13D through 45-13F).","Accumulated losses of an underwater endowment fund stay with that fund in net assets with donor restrictions, and the NFP must disclose in the aggregate the fair value, the original gift/required level, and the deficiency (958-205-45-13H; 958-205-50-2).","Required endowment disclosures include the board's interpretation of relevant law, spending and investment policies, endowment composition by net asset class and fund type, and a beginning-to-ending reconciliation of endowment balances (958-205-50-1A through 50-1B); reporting by fund groups is not required but is not precluded (958-205-45-3)."],"categories":["Not-for-profit","Presentation","Disclosure","Financial statement presentation"],"audience_level":"intermediate","student_note":"This is the backbone of NFP reporting and a heavy CPA exam topic: know the three required statements, the two net asset classes, and the functional/natural expense analysis. The classic misunderstanding is endowment classification—under UPMIFA the entire donor-restricted endowment (including accumulated investment return and underwater deficits) stays in net assets with donor restrictions until the board appropriates it, while a board-designated (quasi-) endowment sits in net assets without donor restrictions.","related_topics":["958-210","958-220","958-230","958-605","958-720","958-320"],"key_concepts":["net assets with donor restrictions","net assets without donor restrictions","donor-restricted endowment fund","board-designated endowment fund","underwater endowment fund","appropriation for expenditure","functional and natural expense analysis","statement of 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established by retrieval timestamps"}},{"number":"220-958","title":"Not-for-Profit Entities","topic_title":"Income Statement—Reporting Comprehensive Income","score":0.8974,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c45f5ed36c934b285847de34911b587b2442711c392b739bdce9f60cfb5c3531","downloaded_from":"2026-09-09T23:07:15.767Z","last_downloaded_at":"2026-09-09T23:07:32.842Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"320-958","title":"Not-for-Profit Entities","topic_title":"Investments—Debt 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Statements","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7aa3eddb30a13fdf8d2e9a4a6dd126dc7dd6219a6a09985585b900ff6d9d80ce","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:46bae6ca391aa1be6dc19231325f4b29bc6525e3f7a6de4e83577be770c83242","downloaded_from":"2026-09-09T22:55:47.235Z","last_downloaded_at":"2026-09-09T22:56:13.307Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"205-960","topic":"205","title":"Plan Accounting—Defined Benefit Pension Plans","area":"Presentation","paragraphs":21,"summary":"This Subtopic governs the form and content of the annual financial statements of a defined benefit pension plan. The overriding objective is to provide information useful in assessing the plan's present and future ability to pay benefits when due, with content focused on plan participants' needs (960-205-10-1 through 10-2). Annual statements must present net assets available for benefits, changes in those net assets, the actuarial present value of accumulated plan benefits, and the significant factors causing the year-to-year change in that actuarial present value (960-205-45-1).","concepts":["net assets available for benefits","actuarial present value of accumulated plan benefits","benefit information date","funding policy","plan termination priority","pbgc guarantee","401(h) account","master trust interest"],"categories":["Presentation","Disclosure","Compensation and benefits","Financial statement presentation"],"level":"intermediate","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
BenefitsAmendedAccounting Standards Update No. 2016-1912/14/2016
Benefits (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Benefits (3rd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Contract ValueAmendedAccounting Standards Update No. 2014-0603/14/2014
Contributory Plan (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Contributory Plan (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Defined Benefit PlanAddedAccounting Standards Update No. 2014-0603/14/2014
Defined Benefit Pension Plan (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Funding Policy (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Funding Policy (3rd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Pension Benefits (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Pension Benefits (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Pension FundAddedAccounting Standards Update No. 2014-0603/14/2014
Plan Assets (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Service (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Service (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Sponsor (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Sponsor (3rd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Unallocated Contract (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Unallocated Contract (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Vested Benefits (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Vested Benefits (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
960-205-05-1AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-05-2AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-10-1AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-45-2AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-45-4AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-45-7AddedAccounting Standards Update No. 2017-0602/27/2017
960-205-50-1AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-50-5AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-55-1AmendedAccounting Standards Update No. 2015-12 (Part II)07/31/2015
960-205-55-1AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-55-2AmendedAccounting Standards Update No. 2014-0603/14/2014
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nBenefits | Amended | Accounting Standards Update No. 2016-19 | 12/14/2016 |\nBenefits (1s…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:85cf1a6d170232adf1b9a8922f5a09cf2df6e2026e48394278bb83ca3926857d","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:15.107Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477437","source_sha256":"55447b194afb5855741004b62c8244e37bbbb290f21e05a4d14d979ff144193d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:77570f9684e5384bed8d1cbfbdca48fc1b3aa8cbd5c6352fdf2c0f0e61ccd8d7","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:15.107Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477437","source_sha256":"55447b194afb5855741004b62c8244e37bbbb290f21e05a4d14d979ff144193d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b59de81249ba0426188af829c4bcc572ea9c2321d03676cf8937caeddb6a33ce","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:15.107Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477437","source_sha256":"55447b194afb5855741004b62c8244e37bbbb290f21e05a4d14d979ff144193d"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-05-1","para":"05-1","html":"
This Subtopic provides guidance on the presentation of financial statements for defined benefit pension plans.
","snippet":"This Subtopic provides guidance on the presentation of financial statements for defined benefit pension plans.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e84c262412b0a364c7fd6e49ad65f22edb56b28fc98fa5b36a98cec206d5162c","downloaded_from":"2026-09-09T22:56:36.349Z","last_downloaded_at":"2026-09-09T22:56:36.349Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477453","source_sha256":"9b838c4cfe4c6459c3a9f1588c252ad2f781b02a67bac73178ad6c8b595f585a"}},{"citation":"205-960-05-2","para":"05-2","html":"
To enhance their usefulness, plan administrators may wish to supplement the financial statements with a brief explanation that highlights those matters expected to be of most interest to participants. Including summary financial information for a period of years in such supplementary information, and thereby disclosing trends, may also be helpful. With the information presented in plan financial statements, users can assess the extent to which the plan itself is able to pay participants' benefits and the extent to which payment of benefits is dependent on other factors, namely, the commitment and financial ability of the employer(s), and, for Employee Retirement Income Security Act plans, the security provided by the Pension Benefit Guaranty Corporation.
","snippet":"To enhance their usefulness, plan administrators may wish to supplement the financial statements with a brief explanation that highlights those matters expected to be of most interest to participants. Including summary f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e061ceb10eaff3925b1b586da7f0070ae54b91e8694ef2a79423e3112ee8a95b","downloaded_from":"2026-09-09T22:56:36.349Z","last_downloaded_at":"2026-09-09T22:56:36.349Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477453","source_sha256":"9b838c4cfe4c6459c3a9f1588c252ad2f781b02a67bac73178ad6c8b595f585a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ce8b98d59c2b91227044f917c7777519116426079c7a5a67643d1ca2605817be","downloaded_from":"2026-09-09T22:56:36.349Z","last_downloaded_at":"2026-09-09T22:56:36.349Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477453","source_sha256":"9b838c4cfe4c6459c3a9f1588c252ad2f781b02a67bac73178ad6c8b595f585a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a74de38f45cdc4360c6ca7c3fb3002d13599d4be54949d0f2835f9824fbbb955","downloaded_from":"2026-09-09T22:56:36.349Z","last_downloaded_at":"2026-09-09T22:56:36.349Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477453","source_sha256":"9b838c4cfe4c6459c3a9f1588c252ad2f781b02a67bac73178ad6c8b595f585a"}},{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-10-1","para":"10-1","html":"
The primary objective of a pension plan's financial statements is to provide financial information that is useful in assessing the plan's present and future ability to pay benefits when due. In that regard, both of the following are recognized:
  1. a
    Information in addition to that contained in a plan's financial statements is needed in assessing the plan's present and future ability to pay benefits when due.
  2. b
    Financial statements for several plan years can provide information more useful in assessing the plan's future ability to pay benefits than can the financial statements for a single plan year (see paragraph 960-205-05-2).
","snippet":"The primary objective of a pension plan's financial statements is to provide financial information that is useful in assessing the plan's present and future ability to pay benefits when due. In that regard, both of the f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:601d6adc9e774d0eb0ab93493d582f16993056cbdaff780cbbca5f0baa0e1507","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}},{"citation":"205-960-10-2","para":"10-2","html":"
Although this Subtopic does not identify any one group as the primary users, the content of plan financial statements shall focus on the needs of plan participants because pension plans exist primarily for their benefit. However, plan financial statements should also be useful to others who have any of the following characteristics:
  1. a
    Advise or represent participants
  2. b
    Are present or potential investors or creditors of the employer(s)
  3. c
    Are responsible for funding the plan (for example, state legislators)
  4. d
    For other reasons have a derived or indirect interest in the financial status of the plan.
","snippet":"Although this Subtopic does not identify any one group as the primary users, the content of plan financial statements shall focus on the needs of plan participants because pension plans exist primarily for their benefit.…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7e7aaa27e6ad8d6b3938657412efe79f54cf3329b5456ad7742089eaf2be168b","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}},{"citation":"205-960-10-3","para":"10-3","html":"
To accomplish its primary objective, a plan's financial statements shall provide information about all of the following:
  1. a
    Plan resources and how the stewardship responsibility for those resources has been discharged
  2. b
    The accumulated plan benefits of participants
  3. c
    The results of transactions and events that affect the information regarding those resources and benefits
  4. d
    Other factors necessary for users to understand the information provided.
","snippet":"To accomplish its primary objective, a plan's financial statements shall provide information about all of the following:\n(a) Plan resources and how the stewardship responsibility for those resources has been discharged\n(…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de1206e1a2bb59066ec1632ff40f91e238b549c3c6a7eed8e22a0256c37536b4","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4fb5981b321bc437803b913abf866a25cb888a2634b9e46c9229a199d272c6aa","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9f4df0360ca1d9925caaf397f07917c4db5376fd3ea7345423f72beb51354b08","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"205-960-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 960-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 960-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:886fc3895ba41ac9a030e9d239bf3ffd77d23243e78b3bd9dbc8e18073d335bc","downloaded_from":"2026-09-09T22:56:42.495Z","last_downloaded_at":"2026-09-09T22:56:42.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477888","source_sha256":"8612c719f46d93a39e697a479dc2b63e2fbda819a32c15fbd202c2ad3ca60c63"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:79f71442c351545119596b7a5ea27be61c933c91c8a44a039ec8c1d9edb78332","downloaded_from":"2026-09-09T22:56:42.495Z","last_downloaded_at":"2026-09-09T22:56:42.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477888","source_sha256":"8612c719f46d93a39e697a479dc2b63e2fbda819a32c15fbd202c2ad3ca60c63"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:92dfed87db194b2570a6c51ce13317238567285696dd5c7756a9dd999d209ae4","downloaded_from":"2026-09-09T22:56:42.495Z","last_downloaded_at":"2026-09-09T22:56:42.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477888","source_sha256":"8612c719f46d93a39e697a479dc2b63e2fbda819a32c15fbd202c2ad3ca60c63"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-45-1","para":"45-1","html":"
The annual financial statements of a plan shall include all of the following:
  1. a
    A statement that includes information regarding the net assets available for benefits as of the end of the plan year.
  2. b
    A statement that includes information regarding the changes during the year in the net assets available for benefits.
  3. c
    Information regarding the actuarial present value of accumulated plan benefits as of either the beginning or end of the plan year. Financial information presented as of the beginning of the year shall be the amounts as of the end of the preceding year. See paragraph 960-20-45-1 for related guidance.
  4. d
    Information regarding the effects, if significant, of certain factors affecting the year-to-year change in the actuarial present value of accumulated plan benefits.
","snippet":"The annual financial statements of a plan shall include all of the following:\n(a) A statement that includes information regarding the net assets available for benefits as of the end of the plan year.\n(b) A statement that…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8a4817e86ca28cb04fe6951fbd323bb9b016756917431fbb9690b7b8502145b","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"citation":"205-960-45-2","para":"45-2","html":"
Example 1 (see paragraph 960-205-55-1) illustrates annual financial statements of a defined benefit pension plan.
","snippet":"Example 1 (see paragraph 960-205-55-1) illustrates annual financial statements of a defined benefit pension plan.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3fe0dd69beb98eb99c767ad7b60769d2572600f7d7e4d4ee99e2c5be2d607288","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:718f6366787f374823781a89cef8d00067070e9314b60c23604372b1a76282a9","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"Dates Used to Present Information","paragraphs":[{"citation":"205-960-45-3","para":"45-3","html":"
The primary objective of the financial statements of a defined benefit pension plan set forth in paragraph 960-205-10-1 is satisfied only if both of the following occur:
  1. a
    Information regarding both the net assets available for benefits and the actuarial present value of accumulated plan benefits is presented as of the same date.
  2. b
    Information regarding both the changes in net assets available for benefits and the changes in the actuarial present value of accumulated plan benefits is presented for the same period.
","snippet":"The primary objective of the financial statements of a defined benefit pension plan set forth in paragraph 960-205-10-1 is satisfied only if both of the following occur:\n(a) Information regarding both the net assets avai…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:990f6c24c7976b3626bff09a851cabeef6eda2801806a70fd3f24dd9e9539e51","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"citation":"205-960-45-4","para":"45-4","html":"
Therefore, if the benefit information date pursuant to paragraph 960-205-45-1(c) is the beginning of the year, a statement that includes information regarding the net assets available for benefits as of that date and a statement that includes information regarding the changes during the preceding year in the net assets available for benefits shall also be presented. Use of an end-of-year benefit information date is considered preferable. Plans are encouraged to develop procedures to enable them to use that date (see paragraphs
960-20-35-16 through 35-18
). The use of interim benefit information dates is not permitted.
","snippet":"Therefore, if the benefit information date pursuant to paragraph 960-205-45-1(c) is the beginning of the year, a statement that includes information regarding the net assets available for benefits as of that date and a s…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:619e62e7ee46757dd46d1c78876def22620ba91c633a8ed28358073c106030ee","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9680dcbe99f471e49063e40d4632a3b5247e110ddf295045f65354ca9a2b041","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"401(h) Account Information","paragraphs":[{"citation":"205-960-45-5","para":"45-5","html":"
Illustrative financial statements for a defined benefit pension plan with a 401(h) feature are presented in Example 2 (see paragraph 960-205-55-2).
","snippet":"Illustrative financial statements for a defined benefit pension plan with a 401(h) feature are presented in Example 2 (see paragraph 960-205-55-2).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cde99f005cf19af99921ba308e554f9ff2c30a3d3490ebcfd4f9d5256e946bef","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:58d65d922a978f74705c47beca987360cc2d29e56a78563f102f4e8d0c4061db","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"Statement of Cash Flows","paragraphs":[{"citation":"205-960-45-6","para":"45-6","html":"
Paragraph 230-10-15-4 states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. That paragraph states that other employee benefit plans that present financial information similar to that required by this Subtopic (including the presentation of plan investments at fair value) also are not required to provide a statement of cash flows. That paragraph also states that employee benefit plans are encouraged to include a statement of cash flows with their annual financial statements if that statement would provide relevant information about the ability of the plan to meet future obligations (for example, if the plan invests in assets that are not highly liquid or obtains financing for investments).
","snippet":"Paragraph 230-10-15-4 states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. That paragraph states tha…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03159c0790ab2fe652bd94a62f1487536bd6fabf68405874476e1cb9994ce3d2","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0027d6a49d5135c84ed0211d79f673e3c6d31b2a53d0e7ef20774b1108ab1202","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"Interests in Master Trusts","paragraphs":[{"citation":"205-960-45-7","para":"45-7","html":"
For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statement of changes in net assets available for benefits, respectively. See Section 960-325-50 for master trust disclosures.
","snippet":"For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statemen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:34f953d492f9c99a643015ffe94a7bb219d4c41221ea241f83487376bd479b27","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bf522381b929bb6bab750f8f49f5e0917bdf537ddcf6a453b763df661cb2fe7b","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:728c4da731f41f8f3482af6a1bcebec7d8ae637b7c3d8995e2153045abfeeac1","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-50-1","para":"50-1","html":"
The financial statements shall include the following disclosures, if applicable:
  1. a
    A brief, general description of the plan agreement, including, but not limited to, vesting and benefit provisions. If a plan agreement or a description thereof providing this information is otherwise published and made available, this description may be omitted provided that reference to such other source is made.
  2. b
    A description of significant plan amendments adopted during the year ending on the latest benefit information date. If significant amendments were adopted between the latest benefit information date and the plan's year-end, it shall be indicated that the actuarial present value of accumulated plan benefits does not reflect those amendments.
  3. c
    A brief, general description of the priority order of participants' claims to the assets of the plan upon plan termination and benefits guaranteed by the Pension Benefit Guaranty Corporation, including a discussion of the application of its guaranty to any recent plan amendment. Such a description serves to alert participants that a comparison of total net assets with the total actuarial present value of accumulated plan benefits (or with the three minimum required categories of benefit information) does not necessarily indicate which benefits would be covered by plan assets in the event of plan termination. If material providing this information is otherwise published and made available to participants, the descriptions required by this paragraph may be omitted provided that reference to such other source is made and disclosure similar to the following is made in the financial statements.
    • Should the plan terminate at some future time, its net assets generally will not be available on a pro rata basis to provide participants' benefits. Whether a particular participant's accumulated plan benefits will be paid depends on both the priority of those benefits and the level of benefits guaranteed by the Pension Benefit Guaranty Corporation at that time. Some benefits may be fully or partially provided for by the then existing assets and the Pension Benefit Guaranty Corporation guaranty while other benefits may not be provided for at all.
  4. d
    The funding policy and any changes in such policy during the plan year. If significant costs of plan administration are being absorbed by the employer(s), that fact shall be disclosed. For a contributory plan, the disclosure shall state the method of determining participants' contributions. Plans subject to the Employee Retirement Income Security Act shall disclose whether the minimum funding requirements of the Act have been met. If a minimum funding waiver has been granted by the Internal Revenue Service (IRS) or if a request for a waiver is pending before the IRS, that fact shall be disclosed.
  5. e
    The policy regarding the purchase of contracts with insurance entities that are excluded from plan assets. The plan's dividend income for the year that is related to excluded contracts shall be disclosed, and for purposes of paragraph 960-30-45-2 may be netted against payments to insurance entities related to such contracts as provided in (g) of that paragraph.
  6. f
    The federal income tax status of the plan, if a favorable letter of determination has not been obtained or maintained. Disclosure of the plan's tax status is not proscribed in other circumstances.
  7. g
    Significant real estate or other transactions in which the plan and any of the following parties are jointly involved:
    1. 1
      The sponsor
    2. 2
      The employer(s)
    3. 3
      The employee organization(s).
  8. h
    Unusual or infrequent events or transactions occurring after the latest benefit information date but before the financial statements are issued or are available to be issued (as discussed in Section 855-10-25) that might significantly affect the usefulness of the financial statements in an assessment of the plan's present and future ability to pay benefits. For example, a plan amendment adopted after the latest benefit information date that significantly increases future benefits that are attributable to employees' service rendered before that date shall be disclosed. If reasonably determinable, the effects of such events or transactions shall be disclosed. If such effects are not quantified, the reasons why they are not reasonably determinable shall be disclosed. This guidance does not contemplate disclosure of normal changes after the benefit information date, such as benefits attributable to service rendered after that date.
","snippet":"The financial statements shall include the following disclosures, if applicable:\n(a) A brief, general description of the plan agreement, including, but not limited to, vesting and benefit provisions. If a plan agreement …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:003be862f4cfda7d9171fb490e7db746e0988f941a346008ff529491dd7643e6","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0a0297bf53bcb229147fbba7a975dd251e83c33a0b7c78cbae3258518b5dd923","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"block":null,"heading":"Funding Policy","paragraphs":[{"citation":"205-960-50-2","para":"50-2","html":"
Although a funding policy disclosure incorporating the technical name of the actuarial cost method and the amortization period for the unfunded supplemental actuarial value may not be meaningful to most users, such disclosure is not proscribed. A brief description, in general terms and in layman's language, of how contributions are determined pursuant to the actuarial cost method may be more understandable and therefore more useful. Thus, the latter disclosure is preferable.
","snippet":"Although a funding policy disclosure incorporating the technical name of the actuarial cost method and the amortization period for the unfunded supplemental actuarial value may not be meaningful to most users, such discl…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:148cdead0bd7c16c76fd579990023b3f186958f0eb49a9004a67fd7c60e4aad4","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"citation":"205-960-50-3","para":"50-3","html":"
Plans are encouraged to disclose information regarding the estimated future impact of the funding policy on an existing difference between the net asset and benefit information. However, such disclosure is not required.
","snippet":"Plans are encouraged to disclose information regarding the estimated future impact of the funding policy on an existing difference between the net asset and benefit information. However, such disclosure is not required.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:04b2fd1623c5ccd87b1f2b72b5c1bde7269241f548332e5c88ea16986841e8a5","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a22c1806c1d4d23bbc15f6a073933e4ee215adb5475f72ef4dc50e3f8a2b8868","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"block":null,"heading":"401(h) Accounts","paragraphs":[{"citation":"205-960-50-4","para":"50-4","html":"
Defined benefit pension plans shall disclose in the notes to financial statements the nature of the assets related to the 401(h) account, and the fact that the assets are available only to pay retiree health benefits.
","snippet":"Defined benefit pension plans shall disclose in the notes to financial statements the nature of the assets related to the 401(h) account, and the fact that the assets are available only to pay retiree health benefits.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b2ad4b5136539581b7d09ec884e7edb1141cd8060c42179f0f78e27971b0d74","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"citation":"205-960-50-5","para":"50-5","html":"
Because the Employee Retirement Income Security Act requires 401(h) accounts to be reported as assets of the pension plan, a reconciliation of the net assets reported in the financial statements to those reported in Form 5500 is required. The reconciliation shall be accompanied by a discussion of the 401(h) account, explaining clearly that the assets in the 401(h) account are not available to pay pension benefits.
","snippet":"Because the Employee Retirement Income Security Act requires 401(h) accounts to be reported as assets of the pension plan, a reconciliation of the net assets reported in the financial statements to those reported in Form…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d087b59ba97f0231738aaf0dac6e9759e43a554acc4a6b92f53ae1ebab650ad2","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:93a2b5776965f3facefc032754a1caad259f73e1bdb62bf55b0f854150eef492","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d0507755963f5719e7e785fed152ba63cdcf1285fe0e16e1588c25fa07c98f4f","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"205-960-55-1","para":"55-1","html":"
This Example illustrates certain applications of the requirements of this Subtopic and in particular of paragraphs
960-205-45-1 through 45-4
that are applicable for the 1981 annual financial statements of a hypothetical plan, the C&H Company Pension Plan. It does not illustrate other requirements of this Subtopic that might be applicable in circumstances other than those assumed for the C&H Company Pension Plan. The formats presented and the wording of accompanying notes are only illustrative and do not necessarily indicate a preferred method of presentation. Further, the circumstances assumed for the C&H Company Pension Plan are designed to facilitate illustration of many of this Subtopic's requirements. Therefore, the notes to the illustrative financial statements probably are more extensive than would be expected for a typical plan. Included are illustrations of the following alternatives permitted by paragraphs
960-205-45-1 through 45-2
, 960-20-45-8, and
960-20-50-6 through 50-7
:
  1. a
    An end-of-year versus beginning-of-year benefit information date
  2. b
    Separate versus combined statements for presenting information regarding the following:
    1. 1
      The net assets available for benefits and the actuarial present value of accumulated plan benefits
    2. 2
      Changes in the net assets available for benefits and changes in the actuarial present value of accumulated plan benefits.
  3. c
    A separate statement that reconciles the year-to-year change in the actuarial present value of accumulated plan benefits versus presenting the effects of a change in actuarial assumptions on the face of the statement of accumulated plan benefits.
Although not illustrated, paragraph 960-20-45-2 permits the information regarding the actuarial present value of accumulated plan benefits and changes therein to be presented as notes to financial statements. The set of illustrative annual financial statements and accompanying notes are as follows.
","snippet":"This Example illustrates certain applications of the requirements of this Subtopic and in particular of paragraphs 960-205-45-1 through 45-4 that are applicable for the 1981 annual financial statements of a hypothetical …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f33a05cad78d253f589c57e8afdf2b8aab2d3b23519cb660a5405f546d6ac6e0","downloaded_from":"2026-09-09T22:56:55.475Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477381","source_sha256":"91d345a59e6685b0c7ae804aa5a199cadcae61395700084b12ebd1882901099c"}},{"citation":"205-960-55-2","para":"55-2","html":"
This Example illustrates certain applications of the provisions of this Subtopic and in particular paragraphs
960-205-50-4 through 50-5
that apply for the annual financial statements of a hypothetical defined benefit pension plan that has been amended to include a 401(h) account. It does not illustrate other provisions that might apply in circumstances other than those assumed in this Example. The financial statements and accompanying notes are as follows.
","snippet":"This Example illustrates certain applications of the provisions of this Subtopic and in particular paragraphs 960-205-50-4 through 50-5 that apply for the annual financial statements of a hypothetical defined benefit pen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9f28745767b1952ca047247fccf1d01ed07921c4df7ae1695bcf1c2656c75af","downloaded_from":"2026-09-09T22:56:55.475Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477381","source_sha256":"91d345a59e6685b0c7ae804aa5a199cadcae61395700084b12ebd1882901099c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:690023baaeece1c91e45ff13e534d366664c68ce057b8455e0a8a1b349b46bee","downloaded_from":"2026-09-09T22:56:55.475Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477381","source_sha256":"91d345a59e6685b0c7ae804aa5a199cadcae61395700084b12ebd1882901099c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:65244e2e374fb9e6d2a4ec2342480b06227cd7850955f62335aa160dad27839a","downloaded_from":"2026-09-09T22:56:55.475Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477381","source_sha256":"91d345a59e6685b0c7ae804aa5a199cadcae61395700084b12ebd1882901099c"}}],"enrichment":{"summary":"This Subtopic governs the form and content of the annual financial statements of a defined benefit pension plan. The overriding objective is to provide information useful in assessing the plan's present and future ability to pay benefits when due, with content focused on plan participants' needs (960-205-10-1 through 10-2). Annual statements must present net assets available for benefits, changes in those net assets, the actuarial present value of accumulated plan benefits, and the significant factors causing the year-to-year change in that actuarial present value (960-205-45-1).","key_points":["A plan's annual financial statements must include net assets available for benefits at year-end, changes in net assets during the year, the actuarial present value of accumulated plan benefits as of the beginning or end of the plan year, and the significant effects of factors causing the year-to-year change in that actuarial present value (960-205-45-1).","The objective is met only if net assets and the actuarial present value of accumulated plan benefits are presented as of the same date, and the changes in each are presented for the same period; if a beginning-of-year benefit information date is used, corresponding beginning-of-year net asset and prior-year change statements must also be presented (960-205-45-3 through 45-4).","An end-of-year benefit information date is preferable, and interim benefit information dates are not permitted (960-205-45-4).","A statement of cash flows is not required for a defined benefit pension plan reporting under this Subtopic, though it is encouraged where it would show the plan's ability to meet future obligations (960-205-45-6; 230-10-15-4).","Each master trust interest and the change in that interest must be presented as separate line items in the statements of net assets available for benefits and of changes in net assets available for benefits (960-205-45-7).","Required disclosures include a general description of the plan (vesting and benefit provisions), significant plan amendments, the priority order of claims on termination and PBGC guarantees, funding policy (including whether ERISA minimum funding requirements were met), insurance contract policies, tax status if no favorable determination letter, joint transactions with the sponsor/employer/employee organization, and significant post-benefit-information-date events (960-205-50-1).","A plan with a 401(h) account must disclose the nature of those assets and that they are available only to pay retiree health benefits, and must reconcile net assets per the financial statements to Form 5500 with an explanation that 401(h) assets cannot pay pension benefits (960-205-50-4 through 50-5)."],"categories":["Presentation","Disclosure","Compensation and benefits","Financial statement presentation"],"audience_level":"intermediate","student_note":"Plan financial statements are unusual: there is no balance sheet/income statement pair and no required cash flow statement—instead the story is net assets versus the actuarial present value of accumulated plan benefits, which must be measured at the same date. A common mistake is thinking the comparison of net assets to accumulated benefits shows what each participant would receive on termination; the required PBGC/priority-order disclosure exists precisely to dispel that.","related_topics":["960-10","960-20","960-30","960-325","962","230-10"],"key_concepts":["net assets available for benefits","actuarial present value of accumulated plan benefits","benefit information date","funding policy","plan termination priority","pbgc guarantee","401(h) account","master trust interest"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9fb88c1323a2d7f9a5c32f043af12062572dc20bf9cae817d8da651602c5b846","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"325-962","title":"Plan Accounting—Defined Contribution Pension Plans","topic_title":"Investments—Other","score":0.85,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e3d1f0f69d1929b0f5eb75ae5b515966221a7f9db32d7ad44149f20a9a008d6","downloaded_from":"2026-09-09T23:48:13.346Z","last_downloaded_at":"2026-09-09T23:48:34.441Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"205-965","title":"Plan Accounting—Health and Welfare Benefit Plans","topic_title":"Presentation of Financial 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Pension Plans","area":"Presentation","paragraphs":21,"summary":"This subtopic governs how a defined contribution pension plan presents its GAAP financial statements. On the accrual basis, the plan must present a statement of net assets available for benefits at plan year-end and a statement of changes in net assets available for benefits for the year, showing total assets, total liabilities, and net assets available for benefits, plus specified minimum categories of changes (net appreciation/depreciation in fair value, investment income, employer/participant/other contributions, benefits paid, insurance contract purchases, and administrative expenses). It also lists required note disclosures about the plan agreement, amendments, contribution basis, tax status, forfeitures, and similar matters.","concepts":["net assets available for benefits","statement of changes in net assets available for benefits","accrual basis","fully benefit-responsive investment contract","master trust interest","forfeited nonvested accounts","employee benefit plan financial statements","erisa minimum funding requirements"],"categories":["Presentation","Disclosure","Compensation and benefits","Financial statement presentation"],"level":"intermediate","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-962-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Benefits Amended Accounting Standards Update No. 2016-19 12/14/2016
Benefits (3rd def.) Added Accounting Standards Update No. 2014-06 03/14/2014
Defined Contribution Plan Amended Accounting Standards Update No. 2014-06 03/14/2014
Sponsor (3rd def.) Added Accounting Standards Update No. 2014-06 03/14/2014
962-205-45-2 Amended Accounting Standards Update No. 2015-12 (Part I) 07/31/2015
962-205-45-3 Superseded Accounting Standards Update No. 2015-12 (Part I) 07/31/2015
962-205-45-3 Amended Accounting Standards Update No. 2012-04 10/01/2012
962-205-45-4 Amended Accounting Standards Update No. 2014-06 03/14/2014
962-205-45-5 Superseded Accounting Standards Update No. 2018-09 07/16/2018
962-205-45-7 Amended Maintenance Update 2016-11 (PDF) 06/27/2016
962-205-45-7 Amended Accounting Standards Update No. 2015-12 (Part II) 07/31/2015
962-205-45-7 Amended Accounting Standards Update No. 2014-06 03/14/2014
962-205-45-7 Amended Accounting Standards Update No. 2012-04 10/01/2012
962-205-45-10 Added Accounting Standards Update No. 2017-06 02/27/2017
962-205-50-1 Amended Maintenance Update 2016-11 (PDF) 06/27/2016
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nBenefits | Amended | Accounting Standards Update No. 2016-19 | 12/14/2016 |\nBenefits (3r…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6a1c9e1ee14c1481e8e99b0be001a9501151384f6cb0e240582bc2e9d27b5798","downloaded_from":"2026-09-09T22:56:59.598Z","last_downloaded_at":"2026-09-09T22:56:59.598Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478069","source_sha256":"19337b9214478913b0e9ea883793114eb5e7beebbc7e2c13060a368765c7ac72"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a369c6c78a8ff13b9bf9b6aa585da31db617c4b81aee712e842b2eb88ecbe438","downloaded_from":"2026-09-09T22:56:59.598Z","last_downloaded_at":"2026-09-09T22:56:59.598Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478069","source_sha256":"19337b9214478913b0e9ea883793114eb5e7beebbc7e2c13060a368765c7ac72"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cd347975de5749bc64345a41a15b307426e6cf38eae4ae532c85fe04e450c90c","downloaded_from":"2026-09-09T22:56:59.598Z","last_downloaded_at":"2026-09-09T22:56:59.598Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478069","source_sha256":"19337b9214478913b0e9ea883793114eb5e7beebbc7e2c13060a368765c7ac72"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-962-05-1","para":"05-1","html":"
This Subtopic provides guidance on the presentation of financial statements of defined contribution pension plans.
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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 962-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 962-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50c1a719f53bb6782dd4b2139369d2527a6f8e98c9045e44b425a42dd1b9b319","downloaded_from":"2026-09-09T22:57:06.466Z","last_downloaded_at":"2026-09-09T22:57:06.466Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477521","source_sha256":"7ac592de20928b3a428dbcdab358362ba9d9e3ac25f0c3a0a2ad5e5da0b83de7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:49cf170766144831bbf145c01e56240d3336216ad275b4ceff4ac684e1e7b1f8","downloaded_from":"2026-09-09T22:57:06.466Z","last_downloaded_at":"2026-09-09T22:57:06.466Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477521","source_sha256":"7ac592de20928b3a428dbcdab358362ba9d9e3ac25f0c3a0a2ad5e5da0b83de7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:52e4927386f5dd61e0e13e96c25d95b1a1312420cb4a4302ae91e8b0d0bd45a7","downloaded_from":"2026-09-09T22:57:06.466Z","last_downloaded_at":"2026-09-09T22:57:06.466Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477521","source_sha256":"7ac592de20928b3a428dbcdab358362ba9d9e3ac25f0c3a0a2ad5e5da0b83de7"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-962-45-1","para":"45-1","html":"
The financial statements of a defined contribution plan prepared in accordance with generally accepted accounting principles (GAAP) shall be prepared on the accrual basis of accounting and include both of the following:
  1. a
    A statement of net assets available for benefits of the plan as of the end of the plan year
  2. b
    A statement of changes in net assets available for benefits of the plan for the year then ended.
","snippet":"The financial statements of a defined contribution plan prepared in accordance with generally accepted accounting principles (GAAP) shall be prepared on the accrual basis of accounting and include both of the following:\n…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9a58147ac5eb33058cd98a78888b6c547afa3a75601c961bbb26a7561db47ed7","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:93b96f486e34fd02773ff90e62151879a1e6a6c6d36f9df6e6e20587204d4ba8","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Net Assets Available for Benefits","paragraphs":[{"citation":"205-962-45-2","para":"45-2","html":"
The statement of net assets available for benefits of the plan shall present amounts for all of the following:
  1. a
    Total assets
  2. b
    Total liabilities
  3. c
    Subparagraph superseded by Accounting Standards Update No. 2015-12. (Part I).
  4. d
    Net assets available for benefits.
","snippet":"The statement of net assets available for benefits of the plan shall present amounts for all of the following:\n(a) Total assets\n(b) Total liabilities\n(c) Subparagraph superseded by Accounting Standards Update No. 2015-12…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fe88319e13867d430eb37586ed84d1007c83e49a5c03fc29a0b031157c99aecf","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"citation":"205-962-45-3","para":"45-3","html":"
Paragraph superseded by Accounting Standards Update No. 2015-12 (Part I).
","snippet":"Paragraph superseded by Accounting Standards Update No. 2015-12 (Part I).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5fa1fb4005fbd8cdee58cf621af946285795518f84535fe145f71f59c196693a","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bc15eafc3ca13cc717d3e5195f48fa6f07c75573789ddb643f9256d50346e891","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Other Components of Net Assets Available for Benefits","paragraphs":[{"citation":"205-962-45-4","para":"45-4","html":"
A plan may have liabilities (other than for benefits) that shall be accrued. Such liabilities may be for amounts owed for securities purchased, refund of excess contributions, income taxes payable by the plan, or other expenses (for example, third-party administrator fees). These liabilities shall be deducted to arrive at net assets available for benefits.
","snippet":"A plan may have liabilities (other than for benefits) that shall be accrued. Such liabilities may be for amounts owed for securities purchased, refund of excess contributions, income taxes payable by the plan, or other e…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6587d384ec29541aa6c10cd33fb0dfa39dd12c2d1e620ccf5a885bf315acf8f3","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"citation":"205-962-45-5","para":"45-5","html":"
Paragraph superseded by Accounting Standards Update No. 2018-09.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2018-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:073e31c6f47cd737b5455361d3f8978d9c95eea45414fdc800b97a009341e552","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cd04e2f913e5ad8c9f54949648ef6338783f4a01a383043c72a5b0f2c034dc48","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Changes in Net Assets Available for Benefits","paragraphs":[{"citation":"205-962-45-6","para":"45-6","html":"
The statement of changes in net assets available for benefits shall be prepared on a basis that reflects income credited to participants in the plan and net appreciation or depreciation in the fair value of only those investment contracts that are not deemed to be fully benefit-responsive. Paragraph 962-325-35-5 provides guidance on the accounting for fully benefit-responsive investment contracts.
","snippet":"The statement of changes in net assets available for benefits shall be prepared on a basis that reflects income credited to participants in the plan and net appreciation or depreciation in the fair value of only those in…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f013e11863622957fbd2b3f56668f89ae1237ce40f935e89cdd2211c827ca0e5","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"citation":"205-962-45-7","para":"45-7","html":"
Information about changes in net assets available for benefits is intended to present the effects of significant changes in net assets during the year and shall present, at a minimum, all of the following:
  1. a
    The net appreciation or depreciation in fair value. Net appreciation or depreciation includes realized gains and losses on investments that were both purchased and sold during the period as well as unrealized appreciation or depreciation of the investments held at year end.
  2. b
    Investment income, exclusive of changes in fair value described in (a).
  3. c
    Contributions from employers, segregated between cash and noncash contributions (a noncash contribution shall be recorded at fair value; the nature of noncash contributions shall be described either parenthetically or in a note).
  4. d
    Contributions from participants, including those transmitted by the sponsor.
  5. e
    Contributions from other identified sources (for example, state subsidies or federal grants).
  6. f
    Benefits paid to participants.
  7. g
    Payments to insurance entities to purchase contracts that are excluded from plan assets.
  8. h
    Administrative expenses.
","snippet":"Information about changes in net assets available for benefits is intended to present the effects of significant changes in net assets during the year and shall present, at a minimum, all of the following:\n(a) The net ap…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:951567e6dcbb6db35c47abb52b21afddd943868eb7f11c3d2b4638a2c485ea05","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"citation":"205-962-45-8","para":"45-8","html":"
The list of minimum disclosures is not intended to limit the amount of detail or the manner of presenting the information, and subclassifications or additional classifications may be useful. Other changes in net assets available for benefits (for example, transfers of assets to or from other plans or proceeds from demutualization) shall be presented separately in the financial statements if they are significant.
","snippet":"The list of minimum disclosures is not intended to limit the amount of detail or the manner of presenting the information, and subclassifications or additional classifications may be useful. Other changes in net assets a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:edde6b677a0b1c43a5e12bde64f07daee38299097ab01a00397aefb57f50a5ed","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:42d199cd80f94a9f0b296081755b18eb838c3d1ffbef10736884c6d0d18aa88d","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Statement of Cash Flows","paragraphs":[{"citation":"205-962-45-9","para":"45-9","html":"
Paragraph 230-10-15-4 states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. That paragraph also states that other employee benefit plans that present financial information similar to that required by Topic 960 (including the presentation of plan investments at fair value) are not required to provide a statement of cash flows. That paragraph also states that employee benefit plans are encouraged to include a statement of cash flows with their annual financial statements if that statement would provide relevant information about the ability of the plan to meet future obligations (for example, if the plan invests in assets that are not highly liquid or obtains financing for investments).
","snippet":"Paragraph 230-10-15-4 states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. That paragraph also state…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8440d8c6d4c7ddfdf7ec8fa116208124838c1f8c7beada2c7a4616b5818ea3de","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f80c6f8b64ecb4ab6198e3bdc28196cbec398ec3db2d3537338022b9143c5f60","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Interests in Master Trusts","paragraphs":[{"citation":"205-962-45-10","para":"45-10","html":"
For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statement of changes in net assets available for benefits, respectively. See Section 962-325-50 for master trust disclosures.
","snippet":"For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statemen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1c3b0edf123c11a83653c6cf9b56548a102f846d7cea6aee0bcbb27ebcd88541","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7c0d1d2fe03d5ac7ec9e2a8450e768b89f52f8a31d68f6256a31e9954066d5da","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bd73bace74479773fb1f83209d48419c3a61fd53e3b702ad412e86b71aa25766","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-962-50-1","para":"50-1","html":"
The financial statements shall disclose, if applicable, all of the following:
  1. a
    A brief, general description of the plan agreement including, but not limited to, vesting and allocation provisions and the disposition of forfeitures. If a plan agreement or a description providing this information is otherwise published and made available, this description may be omitted from the financial statements provided that reference to the other source is made.
  2. b
    A description of significant plan amendments adopted during the period, and the effects of such amendments on net assets if significant either individually or in the aggregate.
  3. c
    The amount of unallocated assets, as well as the basis used to allocate asset values to participants' accounts if that basis differs from the one used to record assets in the financial statements.
  4. d
    The basis for determining contributions by employers and, for a contributory plan, the method of determining participants' contributions. Plans subject to the minimum funding requirements of the Employee Retirement Income Security Act, such as money purchase pension plans, shall disclose whether those requirements have been met. If a minimum funding waiver has been granted by the Internal Revenue Service (IRS), or if a request for waiver is pending before the IRS, that fact shall be disclosed.
  5. e
    If significant costs of plan administration are being absorbed by the employers, that fact shall be disclosed in the notes to financial statements.
  6. f
    The policy regarding the purchase of contracts with insurance entities that are excluded from plan assets.
  7. g
    The federal income tax status of the plan if a favorable determination letter has not been obtained or maintained. Note that reports filed in accordance with the requirements of the Employee Retirement Income Security Act must include disclosure of information concerning whether a tax ruling or determination letter has been obtained, which is more than is required by Topic 960.
  8. h
    Guarantees by others of debt of the plan.
  9. i
    Amounts allocated to accounts of persons who have elected to withdraw from the plan but have not yet been paid. These amounts shall not be reported as a liability on the statement of net assets available for benefits in financial statements prepared in conformity with generally accepted accounting principles (GAAP). A note to financial statements to reconcile the audited financial statements to Form 5500 may be necessary to comply with the Employee Retirement Income Security Act.
  10. j
    The amount and disposition of forfeited nonvested accounts. Specifically, identification of those amounts that are used to reduce future employer contributions, expenses, or reallocated to participant's accounts, in accordance with plan documents.
","snippet":"The financial statements shall disclose, if applicable, all of the following:\n(a) A brief, general description of the plan agreement including, but not limited to, vesting and allocation provisions and the disposition of…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ee2cf8e664bb7042c9b95a09155a0b846eca65a5cc51e5a5bf68e662aa27a508","downloaded_from":"2026-09-09T22:57:15.863Z","last_downloaded_at":"2026-09-09T22:57:15.863Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478416","source_sha256":"27c02f386463528acfbca5dd7f487986e9474f2b4cb1f286840b25ffe9f216f6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4e55e33b8174d71b4b17b78fa48eb9828d5599c0d4da6876053f58580a58f760","downloaded_from":"2026-09-09T22:57:15.863Z","last_downloaded_at":"2026-09-09T22:57:15.863Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478416","source_sha256":"27c02f386463528acfbca5dd7f487986e9474f2b4cb1f286840b25ffe9f216f6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c1f893b42cb954e26f3e617a4d9758acbe9a205700832c9366b238f6dd448e77","downloaded_from":"2026-09-09T22:57:15.863Z","last_downloaded_at":"2026-09-09T22:57:15.863Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478416","source_sha256":"27c02f386463528acfbca5dd7f487986e9474f2b4cb1f286840b25ffe9f216f6"}},{"number":"S00","label":"SEC 00 Status","anchor":"sec-00-status","is_sec":true,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-962-S00-1","para":"S00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
962-205-S99-1AmendedAccounting Standards Update No. 2019-0707/26/2019
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n962-205-S99-1 | Amended | Accounting Standards Update No. 2019-07 | 07/26/2019 |","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9439eb82ca63aa6468b3a084704800898d4fccedb44e9e4e6db5e0ee92a6a3bf","downloaded_from":"2026-09-09T22:57:18.010Z","last_downloaded_at":"2026-09-09T22:57:18.010Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478437","source_sha256":"11c54a7cd33278612f7993da5e25f02cc462929fcf84340ccb1bc5b9e7e9d939"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bb965a04d6a6836e31999a35e7ba4671ef50aaa190fa3f3d190e61c16f6f3e06","downloaded_from":"2026-09-09T22:57:18.010Z","last_downloaded_at":"2026-09-09T22:57:18.010Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478437","source_sha256":"11c54a7cd33278612f7993da5e25f02cc462929fcf84340ccb1bc5b9e7e9d939"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dbbca847a565a0e5134c0fbae55f7942ede42bc023015a84e64afb15ddb60999","downloaded_from":"2026-09-09T22:57:18.010Z","last_downloaded_at":"2026-09-09T22:57:18.010Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478437","source_sha256":"11c54a7cd33278612f7993da5e25f02cc462929fcf84340ccb1bc5b9e7e9d939"}},{"number":"S15","label":"SEC 15 Scope and Scope Exceptions","anchor":"sec-15-scope-and-scope-exceptions","is_sec":true,"groups":[{"block":null,"heading":"Entities","paragraphs":[{"citation":"205-962-S15-1","para":"S15-1","html":"
See paragraph 962-205-S99-1, Regulation S-X Rule 6A-01, for entities to which Rules 6A-01 through 6A-05 apply.
","snippet":"See paragraph 962-205-S99-1, Regulation S-X Rule 6A-01, for entities to which Rules 6A-01 through 6A-05 apply.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:24072d71c62c1e887046c3e53fc9097bd5fe7e016575ffec8851248e0358e3ab","downloaded_from":"2026-09-09T22:57:20.293Z","last_downloaded_at":"2026-09-09T22:57:20.293Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477551","source_sha256":"768f15f49887779d1bd2d1fe36390f8c0445d8321b10d0da24106bf25630e60b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:031f739c028c448da1ef4e78c06282b49b930658042daf5d1f5876a930e6a873","downloaded_from":"2026-09-09T22:57:20.293Z","last_downloaded_at":"2026-09-09T22:57:20.293Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477551","source_sha256":"768f15f49887779d1bd2d1fe36390f8c0445d8321b10d0da24106bf25630e60b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ee799e421759394176988d07b82c83f6652feac530d615f465fd57f209780bb4","downloaded_from":"2026-09-09T22:57:20.293Z","last_downloaded_at":"2026-09-09T22:57:20.293Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477551","source_sha256":"768f15f49887779d1bd2d1fe36390f8c0445d8321b10d0da24106bf25630e60b"}},{"number":"S45","label":"SEC 45 Other Presentation Matters","anchor":"sec-45-other-presentation-matters","is_sec":true,"groups":[{"block":null,"heading":"Format","paragraphs":[{"citation":"205-962-S45-1","para":"S45-1","html":"
See paragraph 962-205-S99-1, Regulation S-X Rule 6A-03, for presentation requirements for statements of financial condition.
","snippet":"See paragraph 962-205-S99-1, Regulation S-X Rule 6A-03, for presentation requirements for statements of financial condition.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de11555d1f72118bcaa0ea53cdc4ed6ec1b0407863a5277563f88e260e0b8fdf","downloaded_from":"2026-09-09T22:57:27.118Z","last_downloaded_at":"2026-09-09T22:57:27.118Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478427","source_sha256":"2b2183bcc96fdb271f64d584868278727d99e181c87e1ff949b7341608dfb0f6"}},{"citation":"205-962-S45-2","para":"S45-2","html":"
See paragraph 962-205-S99-1, Regulation S-X Rule 6A-04, for presentation requirements for statements of income and changes in plan equity.
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See paragraph 962-205-S99-1, Regulation S-X Rule 6A-02, for disclosure requirements for employee stock purchase, savings, and other plans within the scope of Rule 6A-01.
","snippet":"See paragraph 962-205-S99-1, Regulation S-X Rule 6A-02, for disclosure requirements for employee stock purchase, savings, and other plans within the scope of Rule 6A-01.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:251a1b2dd6614e0f994e98948721da7ca8b47874f3196e4a69e369dfd162aaff","downloaded_from":"2026-09-09T22:57:28.818Z","last_downloaded_at":"2026-09-09T22:57:28.818Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478052","source_sha256":"40c231d02717c049ecba22c016d2a1a348b3df3e6368f90fdc32a0ac1d0468cc"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f6e29bf0c4fb651855dcce91ae7891a6b9184e6ee6bdbf2f35dd17880b445d5a","downloaded_from":"2026-09-09T22:57:28.818Z","last_downloaded_at":"2026-09-09T22:57:28.818Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478052","source_sha256":"40c231d02717c049ecba22c016d2a1a348b3df3e6368f90fdc32a0ac1d0468cc"}},{"block":null,"heading":"Schedules","paragraphs":[{"citation":"205-962-S50-2","para":"S50-2","html":"
See paragraph 962-205-S99-1, Regulation S-X Rule 6A-05, for schedules required to be filed for entities within the scope of Rule 6A-01.
","snippet":"See paragraph 962-205-S99-1, Regulation S-X Rule 6A-05, for schedules required to be filed for entities within the scope of Rule 6A-01.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:557b859739d0e6030cbf5e35f7f46efebb0648688db6238d12e5789df048b78d","downloaded_from":"2026-09-09T22:57:28.818Z","last_downloaded_at":"2026-09-09T22:57:28.818Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478052","source_sha256":"40c231d02717c049ecba22c016d2a1a348b3df3e6368f90fdc32a0ac1d0468cc"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e911190303e224ce52f90a8c619a882a57369af7b1ae58fe699c1479f379b806","downloaded_from":"2026-09-09T22:57:28.818Z","last_downloaded_at":"2026-09-09T22:57:28.818Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478052","source_sha256":"40c231d02717c049ecba22c016d2a1a348b3df3e6368f90fdc32a0ac1d0468cc"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7a68aaa55ee95c53bc077b498a15285cdc746d6d375194447b7274639369138f","downloaded_from":"2026-09-09T22:57:28.818Z","last_downloaded_at":"2026-09-09T22:57:28.818Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478052","source_sha256":"40c231d02717c049ecba22c016d2a1a348b3df3e6368f90fdc32a0ac1d0468cc"}},{"number":"S99","label":"SEC 99 SEC Materials","anchor":"sec-99-sec-materials","is_sec":true,"groups":[{"block":null,"heading":"SEC Rules, Regulations, and Interpretations","paragraphs":[{"citation":"205-962-S99-1","para":"S99-1","html":"
The following is the text of Regulation S-X Rule 6A, Employee Stock Purchase, Savings and Similar Plans (17 CFR 210.6A-01 through 17 CFR 210.6A-05). [47 FR 56843, Dec. 21, 1982][47 FR 56843, Dec. 21, 1982][27 FR 78710, Aug. 9, 1962. Redesignated at 47 FR 56843, Dec. 21, 1982][27 FR 7870, Aug. 9, 1962. Redesignated at 47 FR 56843, Dec. 21, 1982; 83 FR 50203, Oct. 4, 2018] [45 FR 63676, Sept. 25, 1980. Redesignated at 47 FR 56843, Dec. 21, 1982, and amended at 50 FR 25215, June 18, 1985; 83 FR 50203, Oct. 4, 2018]
","snippet":"The following is the text of Regulation S-X Rule 6A, Employee Stock Purchase, Savings and Similar Plans (17 CFR 210.6A-01 through 17 CFR 210.6A-05).\nRule 6A-01. Application of Rules 6A-01 to 6A-05 (17 CFR 210.6A-01).\nApp…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f7a049c02176749210cb2b869b23285cde56f5309abea702458160d264b34311","downloaded_from":"2026-09-09T22:57:32.204Z","last_downloaded_at":"2026-09-09T22:57:32.204Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477804","source_sha256":"3cfe83a1e95e03e37cd5f47dbff7e8359014536d27fd817cecef42300cccbd18"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a70637aa416ced1754096bf331cb9c595263c199c1d3398c9d4a446e30b1c926","downloaded_from":"2026-09-09T22:57:32.204Z","last_downloaded_at":"2026-09-09T22:57:32.204Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477804","source_sha256":"3cfe83a1e95e03e37cd5f47dbff7e8359014536d27fd817cecef42300cccbd18"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f2ff0aa08982d96c29a1485564c40c0ffe9878969011b443b1f3594eb26bb333","downloaded_from":"2026-09-09T22:57:32.204Z","last_downloaded_at":"2026-09-09T22:57:32.204Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477804","source_sha256":"3cfe83a1e95e03e37cd5f47dbff7e8359014536d27fd817cecef42300cccbd18"}}],"enrichment":{"summary":"This subtopic governs how a defined contribution pension plan presents its GAAP financial statements. On the accrual basis, the plan must present a statement of net assets available for benefits at plan year-end and a statement of changes in net assets available for benefits for the year, showing total assets, total liabilities, and net assets available for benefits, plus specified minimum categories of changes (net appreciation/depreciation in fair value, investment income, employer/participant/other contributions, benefits paid, insurance contract purchases, and administrative expenses). It also lists required note disclosures about the plan agreement, amendments, contribution basis, tax status, forfeitures, and similar matters.","key_points":["Defined contribution plan financial statements must be prepared on the accrual basis and consist of a statement of net assets available for benefits as of plan year-end and a statement of changes in net assets available for benefits for the year then ended (205-962-45-1).","The statement of net assets available for benefits presents total assets, total liabilities, and net assets available for benefits (205-962-45-2); non-benefit liabilities such as securities purchased, refunds of excess contributions, income taxes, and third-party administrator fees are accrued and deducted (205-962-45-4).","The statement of changes reflects income credited to participants and net appreciation or depreciation in fair value of only those investment contracts that are not deemed fully benefit-responsive (205-962-45-6); see 962-325-35-5 for fully benefit-responsive contracts.","Minimum line items in the statement of changes include net appreciation/depreciation in fair value (realized and unrealized), investment income, employer contributions split between cash and noncash (noncash at fair value), participant contributions, contributions from other sources, benefits paid, payments to insurance entities for excluded contracts, and administrative expenses (205-962-45-7).","Other significant changes, such as transfers of assets to or from other plans or demutualization proceeds, are presented separately (205-962-45-8).","A statement of cash flows is not required (per 230-10-15-4) but is encouraged when it would show the plan's ability to meet future obligations, such as when investments are not highly liquid (205-962-45-9).","An interest in a master trust and the change in that interest must be separate line items in each statement (205-962-45-10), and notes must disclose the plan description, amendments, unallocated assets, contribution basis and ERISA minimum funding compliance, absorbed administrative costs, insurance contract policy, tax status, guarantees, amounts allocated to withdrawing participants (not reported as a liability), and forfeited nonvested accounts and their disposition (205-962-50-1)."],"categories":["Presentation","Disclosure","Compensation and benefits","Financial statement presentation"],"audience_level":"intermediate","student_note":"Exam questions often test that a defined contribution plan needs only two statements (net assets available for benefits and changes therein) and no statement of cash flows, unlike a business enterprise. A common misunderstanding: amounts allocated to participants who have elected to withdraw but have not yet been paid are NOT reported as a liability under GAAP (205-962-50-1(i)), even though Form 5500 reconciliation may be needed.","related_topics":["962-10","962-325","960","965","230-10"],"key_concepts":["net assets available for benefits","statement of changes in net assets available for benefits","accrual basis","fully benefit-responsive investment contract","master trust interest","forfeited nonvested accounts","employee benefit plan financial statements","erisa minimum funding 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Statements","score":0.871,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:050022c04646c5950530e98d3ad72ef9cf3b89f84c936b49203b0a44ba4fb573","downloaded_from":"2026-09-09T22:54:54.562Z","last_downloaded_at":"2026-09-09T22:55:25.512Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"210-946","title":"Financial Services—Investment Companies","topic_title":"Balance Sheet","score":0.8109,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:964af9bdc823d0ba5f17b4642ae79c251139d1a534b2da19433e14f24a620b32","downloaded_from":"2026-09-09T23:01:25.620Z","last_downloaded_at":"2026-09-09T23:02:00.098Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"715-20","title":"Defined Benefit Plans—General","topic_title":"Compensation—Retirement 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Statements","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7aa3eddb30a13fdf8d2e9a4a6dd126dc7dd6219a6a09985585b900ff6d9d80ce","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"205-965","title":"Plan Accounting—Health and Welfare Benefit Plans","topic_title":"Presentation of Financial Statements","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2be998093cc9fe1fa9674f892b275030af599f5bf6618b456897f32b35716094","downloaded_from":"2026-09-09T22:57:36.115Z","last_downloaded_at":"2026-09-09T22:58:00.033Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3f53c79a5e26d6a38e50b1a8cfbb4af537ca6d4c8788dcf1ba0df78c46be7114","downloaded_from":"2026-09-09T22:56:59.598Z","last_downloaded_at":"2026-09-09T22:57:32.204Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"205-965","topic":"205","title":"Plan Accounting—Health and Welfare Benefit Plans","area":"Presentation","paragraphs":35,"summary":"ASC 965-205 (indexed here as 205-965) prescribes the financial statement presentation for health and welfare benefit plans. Defined benefit plans must present, on the accrual basis, a statement of net assets available for benefits, a statement of changes in net assets available for benefits, information about the plan's benefit obligations, and the significant factors causing year-to-year changes in those obligations; defined contribution plans present only the two net-asset statements because the obligation is limited to participants' account balances. It also governs how retiree health benefits funded through a 401(h) account in the sponsor's defined benefit pension plan are reported in the health and welfare plan's financial statements, plus an extensive list of required note disclosures.","concepts":["health and welfare benefit plan","net assets available for benefits","benefit obligations","401(h) account","postretirement benefit obligation","health care cost-trend rate","accrual basis of accounting","form 5500 reconciliation"],"categories":["Financial statement presentation","Disclosure","Compensation and benefits","Presentation"],"level":"advanced","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-965-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Benefits Amended Accounting Standards Update No. 2016-19 12/14/2016
Benefits (3rd def.) Added Accounting Standards Update No. 2014-06 03/14/2014
Defined Benefit Health and Welfare Plans Superseded Accounting Standards Update No. 2014-06 03/14/2014
Defined Benefit Plan Added Accounting Standards Update No. 2014-06 03/14/2014
Defined Contribution Health and Welfare Plans Superseded Accounting Standards Update No. 2014-06 03/14/2014
Defined Contribution Plan Added Accounting Standards Update No. 2014-06 03/14/2014
Fair Value (2nd def.) Superseded Accounting Standards Update No. 2012-04 10/01/2012
Fair Value (3rd def.) Added Accounting Standards Update No. 2012-04 10/01/2012
Plan Assets (1st def.) Amended Accounting Standards Update No. 2016-19 12/14/2016
Plan Assets (1st def.) Added Accounting Standards Update No. 2014-06 03/14/2014
965-205-10-1 Amended Accounting Standards Update No. 2014-06 03/14/2014
965-205-10-2 Amended Accounting Standards Update No. 2014-06 03/14/2014
965-205-45-1 Amended Accounting Standards Update No. 2014-06 03/14/2014
965-205-45-2 Amended Accounting Standards Update No. 2020-10 10/29/2020
965-205-45-2 Amended Maintenance Update 2015-11 (PDF) 06/19/2015
965-205-45-3 Amended Accounting Standards Update No. 2014-06 03/14/2014
965-205-45-4 Amended Accounting Standards Update No. 2014-06 03/14/2014
965-205-45-7 Amended Maintenance Update 2016-11 (PDF) 06/27/2016
965-205-45-8 Amended Maintenance Update 2016-11 (PDF) 06/27/2016
965-205-45-11 Added Accounting Standards Update No. 2017-06 02/27/2017
965-205-50-1 Amended Accounting Standards Update No. 2014-06 03/14/2014
965-205-50-1 Amended Accounting Standards Update No. 2012-04 10/01/2012
965-205-50-5 Added Accounting Standards Update No. 2017-06 02/27/2017
965-205-50-6 Added Accounting Standards Update No. 2020-10 10/29/2020
965-205-55-3 Amended Accounting Standards Update No. 2014-06 03/14/2014
965-205-55-4 Amended Accounting Standards Update No. 2015-12 (Part II) 07/31/2015
965-205-55-4 Amended Accounting Standards Update No. 2012-04 10/01/2012
965-205-55-6 Amended Accounting Standards Update No. 2015-12 (Part II) 07/31/2015
965-205-55-6 Amended Accounting Standards Update No. 2012-04 10/01/2012
965-205-55-8 Amended Accounting Standards Update No. 2015-12 (Part II) 07/31/2015
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nBenefits | Amended | Accounting Standards Update No. 2016-19 | 12/14/2016 |\nBenefits (3r…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b43095bab6d38156445e8a83217406375458be17d9d9b24071ca12ca39a55fbc","downloaded_from":"2026-09-09T22:57:36.115Z","last_downloaded_at":"2026-09-09T22:57:36.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477454","source_sha256":"2bb2e7bfd2f862891206b102326ea494fbfec4efa82016e449023a0dd4fb926a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c16cbc81a9d99c40e672b62975ccfd41da210ee47764019b59ceb27c71542693","downloaded_from":"2026-09-09T22:57:36.115Z","last_downloaded_at":"2026-09-09T22:57:36.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477454","source_sha256":"2bb2e7bfd2f862891206b102326ea494fbfec4efa82016e449023a0dd4fb926a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:308e3167ffe590830269bb9da7480fe38751f456f42c450a48f61acad87703a4","downloaded_from":"2026-09-09T22:57:36.115Z","last_downloaded_at":"2026-09-09T22:57:36.115Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477454","source_sha256":"2bb2e7bfd2f862891206b102326ea494fbfec4efa82016e449023a0dd4fb926a"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-965-05-1","para":"05-1","html":"
This Subtopic provides guidance on the presentation of financial statements for health and welfare benefit plans.
","snippet":"This Subtopic provides guidance on the presentation of financial statements for health and welfare benefit plans.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad1876cb50fbbcca2e2aaae0ece9763fc75afb35ecd3dd9363aa8420315bd427","downloaded_from":"2026-09-09T22:57:38.913Z","last_downloaded_at":"2026-09-09T22:57:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478152","source_sha256":"b0140ca31b2126e4f351387c7c1d0cfb08e1ebc3a1818ea0f81b61968847eed0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fcca6f90b19cc88a1d18e66ff714cc5670d6d50dbc5b06a52f021eb3a5a799e3","downloaded_from":"2026-09-09T22:57:38.913Z","last_downloaded_at":"2026-09-09T22:57:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478152","source_sha256":"b0140ca31b2126e4f351387c7c1d0cfb08e1ebc3a1818ea0f81b61968847eed0"}},{"block":null,"heading":"401(h) Accounts","paragraphs":[{"citation":"205-965-05-2","para":"05-2","html":"
Employers may fund a portion of their postretirement medical-benefit obligations related to their health and welfare benefit plans through a health benefit account (401(h) account) in their defined benefit pension plans, subject to certain restrictions and limitations.
","snippet":"Employers may fund a portion of their postretirement medical-benefit obligations related to their health and welfare benefit plans through a health benefit account (401(h) account) in their defined benefit pension plans,…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9953fb66f2be529abb9fc8c4aa763fdbcd27c0c4dff6f3e1374830a2432350a1","downloaded_from":"2026-09-09T22:57:38.913Z","last_downloaded_at":"2026-09-09T22:57:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478152","source_sha256":"b0140ca31b2126e4f351387c7c1d0cfb08e1ebc3a1818ea0f81b61968847eed0"}},{"citation":"205-965-05-3","para":"05-3","html":"
Funding can be accomplished through a qualified transfer of excess pension plan assets (as defined in Section 420 of the Internal Revenue Code) or through additional contributions to the 401(h) account by the employer, employees, or both. Any assets transferred to a 401(h) account in a qualified transfer of excess pension plan assets (and any income allocable thereto) must be used only to pay qualified current retiree health benefits for the taxable year of the transfer (whether directly or through reimbursement). Any assets transferred to the 401(h) account to pay retiree medical expenses in a qualified transfer of excess pension plan assets (and any income allocable thereto) that are not used during the year must be transferred out of the account to the transferor plan and treated as an employer reversion for purposes of a 20 percent excise tax on reversions. The Internal Revenue Code allows employers to allocate up to 25 percent of total contributions to the plan, subject to certain limitations, to the 401(h) account. If the full amount of these contributions is not used during the year, they may be accumulated for future retiree medical expenses in the 401(h) account. The deductibility of employer contributions to a 401(h) account is subject to separate limitations and, therefore, such contributions have no effect on the amount of deductible contributions an employer can make to fund pension benefits under the plan. The earnings on the 401(h) account are ignored for minimum funding purposes. Additionally, under the Code, qualified transfers are not treated as prohibited transactions for purposes of Section 4975.
","snippet":"Funding can be accomplished through a qualified transfer of excess pension plan assets (as defined in Section 420 of the Internal Revenue Code) or through additional contributions to the 401(h) account by the employer, e…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d8a592f7b8309e9cbb2a4d0d5fbbdf3e1972ac9807eca1ebd309bbadd9aeaa8f","downloaded_from":"2026-09-09T22:57:38.913Z","last_downloaded_at":"2026-09-09T22:57:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478152","source_sha256":"b0140ca31b2126e4f351387c7c1d0cfb08e1ebc3a1818ea0f81b61968847eed0"}},{"citation":"205-965-05-4","para":"05-4","html":"
The plan sponsor has discretion in making contributions to the 401(h) account. A pension or annuity plan may provide for payment of medical benefits for retired employees, their spouses, and their dependents if all of the following conditions are met:
  1. a
    Benefits are subordinate (as defined in Section 401(h) of the Internal Revenue Code) to the retirement benefits provided by the plan.
  2. b
    A separate account is established and maintained for such benefits.
  3. c
    The employer's contributions to the separate account are reasonable and ascertainable.
  4. d
    It is impossible, at any time before the satisfaction of all obligations under the plan to provide such benefits, for any part of the corpus or income of the separate account to be (within the taxable year or thereafter) used for or diverted to any purpose other than the providing of such benefits.
  5. e
    Notwithstanding the provisions of certain Internal Revenue Code sections, upon satisfaction of all obligations under the plan to provide such benefits, any amount remaining in the separate account must, under the terms of the plan, be returned to the employer.
  6. f
    In the case of an employee who is a key employee (as defined in Section 416(i)), a separate account is established and maintained for such benefits payable to such employee (and the spouse and dependents) and such benefits (to the extent attributable to plan years beginning after March 31, 1984, for which the employee is a key employee) are payable only to such employee (and the spouse and dependents) from that separate account.
","snippet":"The plan sponsor has discretion in making contributions to the 401(h) account. A pension or annuity plan may provide for payment of medical benefits for retired employees, their spouses, and their dependents if all of th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:625e14e006b0a9a952bfe9f78d2529307acf7ef412592f7520904da2c53437c5","downloaded_from":"2026-09-09T22:57:38.913Z","last_downloaded_at":"2026-09-09T22:57:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478152","source_sha256":"b0140ca31b2126e4f351387c7c1d0cfb08e1ebc3a1818ea0f81b61968847eed0"}},{"citation":"205-965-05-5","para":"05-5","html":"
The 401(h) assets may be used only to pay current retiree health benefits, which are obligations of a separate health and welfare benefit plan or health benefit arrangement. They may not be used to satisfy pension obligations. Although the assets may be invested together with assets that are available to pay pension benefits, a separate accounting must be maintained for all qualified transfers, contributions, distributions, expenses, and income earned thereon.
","snippet":"The 401(h) assets may be used only to pay current retiree health benefits, which are obligations of a separate health and welfare benefit plan or health benefit arrangement. They may not be used to satisfy pension obliga…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:078523c5c504a0a8f5f1bce24cb33e76191da64647df646ebc8f57795ace0c7e","downloaded_from":"2026-09-09T22:57:38.913Z","last_downloaded_at":"2026-09-09T22:57:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478152","source_sha256":"b0140ca31b2126e4f351387c7c1d0cfb08e1ebc3a1818ea0f81b61968847eed0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b83d4600e2928ba5d7f7370ab494ebadd326c7d06f383ec3d678b247ce3931bc","downloaded_from":"2026-09-09T22:57:38.913Z","last_downloaded_at":"2026-09-09T22:57:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478152","source_sha256":"b0140ca31b2126e4f351387c7c1d0cfb08e1ebc3a1818ea0f81b61968847eed0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:abf9375d623a29f65b8fdb1de9ba1477c762202262a03cb56a8b06093637631b","downloaded_from":"2026-09-09T22:57:38.913Z","last_downloaded_at":"2026-09-09T22:57:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478152","source_sha256":"b0140ca31b2126e4f351387c7c1d0cfb08e1ebc3a1818ea0f81b61968847eed0"}},{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":"Defined Benefit Health and Welfare Plans","paragraphs":[{"citation":"205-965-10-1","para":"10-1","html":"
The objective of financial reporting by defined benefit health and welfare plans is the same as that of defined benefit pension plans; both types of plans provide a determinable benefit. Accordingly, the primary objective of the financial statements of a defined benefit health and welfare plan is to provide financial information that is useful in assessing the plan's present and future ability to pay its benefit obligations when due. To accomplish that objective, a plan's financial statements shall provide information about all of the following:
  1. a
    Plan resources and the manner in which the stewardship responsibility for those resources has been discharged
  2. b
    Benefit obligations
  3. c
    The results of transactions and events that affect the information about those resources and obligations
  4. d
    Other factors necessary for users to understand the information provided.
","snippet":"The objective of financial reporting by defined benefit health and welfare plans is the same as that of defined benefit pension plans; both types of plans provide a determinable benefit. Accordingly, the primary objectiv…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f328a08a15833af2d507c68a207c031113789d7b5930ccf300c37eec5da8c48b","downloaded_from":"2026-09-09T22:57:42.854Z","last_downloaded_at":"2026-09-09T22:57:42.854Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478805","source_sha256":"f53110b42d5d2d74250e45592414bc5261de9dc661a91141c1631fd270354f9d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f61c300d0f867fe66bcc4a16fa4403807d9de408b1aca8286d90be6a577d4369","downloaded_from":"2026-09-09T22:57:42.854Z","last_downloaded_at":"2026-09-09T22:57:42.854Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478805","source_sha256":"f53110b42d5d2d74250e45592414bc5261de9dc661a91141c1631fd270354f9d"}},{"block":null,"heading":"Defined Contribution Health and Welfare Plans","paragraphs":[{"citation":"205-965-10-2","para":"10-2","html":"
The objective of financial reporting by a defined contribution health and welfare plan is to provide financial information that is useful in assessing the plan's present and future ability to pay its benefits. To accomplish that objective, a plan's financial statements shall provide information about all of the following:
  1. a
    Plan resources and the manner in which the stewardship responsibility for those resources has been discharged
  2. b
    The results of transactions and events that affect the information about those resources
  3. c
    Other factors necessary for users to understand the information provided. For example vacation, holiday, and legal are typical plans whose benefits are limited to the balance in the participant's accounts.
","snippet":"The objective of financial reporting by a defined contribution health and welfare plan is to provide financial information that is useful in assessing the plan's present and future ability to pay its benefits. To accompl…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6e9a605db99de5ed053cf66842ad25b472a15ea2e0e741fc33e527090c88d4b2","downloaded_from":"2026-09-09T22:57:42.854Z","last_downloaded_at":"2026-09-09T22:57:42.854Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478805","source_sha256":"f53110b42d5d2d74250e45592414bc5261de9dc661a91141c1631fd270354f9d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0209d91d6dbcb5957f31154aad50b80c9e59af8fe2f1bad2f0b05b590df2de3b","downloaded_from":"2026-09-09T22:57:42.854Z","last_downloaded_at":"2026-09-09T22:57:42.854Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478805","source_sha256":"f53110b42d5d2d74250e45592414bc5261de9dc661a91141c1631fd270354f9d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:56d574585b3be796c971b5620a506645b1c34125c21654299402fc479a0de430","downloaded_from":"2026-09-09T22:57:42.854Z","last_downloaded_at":"2026-09-09T22:57:42.854Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478805","source_sha256":"f53110b42d5d2d74250e45592414bc5261de9dc661a91141c1631fd270354f9d"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"205-965-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 965-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 965-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f23cf5f393cd9a7fabd5b7647a6082ba5ebe7bbbed23608b8b9ba46e0ba77fea","downloaded_from":"2026-09-09T22:57:45.456Z","last_downloaded_at":"2026-09-09T22:57:45.456Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478976","source_sha256":"7ff37c1e22fb66ea2a1a4e454571679506c2263352d758c687a6615571f6e776"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a24a6d9d39c758eb5daf061c036090e811b4fff556148498003ffa727c04a749","downloaded_from":"2026-09-09T22:57:45.456Z","last_downloaded_at":"2026-09-09T22:57:45.456Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478976","source_sha256":"7ff37c1e22fb66ea2a1a4e454571679506c2263352d758c687a6615571f6e776"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ed4a9e52e3a94c5006d2bbe68c93bda84cf2858b7605cbcccb70f7184ef51b82","downloaded_from":"2026-09-09T22:57:45.456Z","last_downloaded_at":"2026-09-09T22:57:45.456Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478976","source_sha256":"7ff37c1e22fb66ea2a1a4e454571679506c2263352d758c687a6615571f6e776"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Defined Benefit Health and Welfare Plans","paragraphs":[{"citation":"205-965-45-1","para":"45-1","html":"
The financial statements of a defined benefit health and welfare plan prepared in accordance with generally accepted accounting principles (GAAP) shall be prepared on the accrual basis of accounting and include all of the following:
  1. a
    A statement of net assets available for benefits as of the end of the plan year (see paragraphs
    965-20-45-1 through 45-2
    )
  2. b
    A statement of changes in net assets available for benefits for the year then ended (see paragraphs
    965-20-45-3 through 45-4
    )
  3. c
    Information regarding the plan's benefit obligations as of the end of the plan year (see Subtopic 965-30)
  4. d
    Information regarding the effects, if significant, of certain factors affecting the year-to-year change in the plan's benefit obligations (see paragraphs
    965-30-45-4 through 45-8
    ).
","snippet":"The financial statements of a defined benefit health and welfare plan prepared in accordance with generally accepted accounting principles (GAAP) shall be prepared on the accrual basis of accounting and include all of th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e85d039a1891b9325ccb8a1743102827f46a1980e45b14d6fae31f425208d4cb","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"citation":"205-965-45-2","para":"45-2","html":"
Information about the benefit obligations shall be presented in a separate statement, combined with other information on another financial statement, or disclosed in the notes to financial statements. Regardless of the format selected, the plan financial statements shall present the benefit obligations information in its entirety in the same location. The information shall be presented in such reasonable detail as is necessary to identify the nature and classification of the obligations. See Examples 1 through 3 (paragraphs
965-205-55-2 through 55-7
) for illustrative financial statements of health and welfare benefit plans. (See paragraph 965-205-50-6.)
","snippet":"Information about the benefit obligations shall be presented in a separate statement, combined with other information on another financial statement, or disclosed in the notes to financial statements. Regardless of the f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:be8afbf1f9310951befe2382547a265aa706c1fef16c53f440e665e6d208a717","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:07be58e530c37d6505588eb238dda8a62130ff92ea68ad7a90d156fed2140d05","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"block":null,"heading":"Defined Contribution Health and Welfare Plans","paragraphs":[{"citation":"205-965-45-3","para":"45-3","html":"
The financial statements of a defined contribution health and welfare plan prepared in accordance with GAAP shall be prepared on the accrual basis of accounting and include both of the following:
  1. a
    A statement of net assets available for benefits of the plan as of the end of the plan year (see Subtopic 965-30)
  2. b
    A statement of changes in net assets available for benefits of the plan for the year then ended (see paragraphs
    965-20-45-3 through 45-4
    ).
","snippet":"The financial statements of a defined contribution health and welfare plan prepared in accordance with GAAP shall be prepared on the accrual basis of accounting and include both of the following:\n(a) A statement of net a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:724f099a0ee4a9e7a33b1f0b007dbccc8ee08b0d299c7a18e34e8c0856dde591","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"citation":"205-965-45-4","para":"45-4","html":"
Because a plan's obligation to provide benefits is limited to the amounts accumulated in an individual's account, information regarding benefit obligations is not applicable.
","snippet":"Because a plan's obligation to provide benefits is limited to the amounts accumulated in an individual's account, information regarding benefit obligations is not applicable.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bb04bd35d142afbc0a2614aceb261d845d42a9da5963bd6ee0d38297fcc831a4","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d14aa29ec748d92c79060c97c1a8b8a6c5184f4ac5d236f0d6f62c289b64b2f5","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"block":null,"heading":"Cash Flows","paragraphs":[{"citation":"205-965-45-5","para":"45-5","html":"
Paragraph 230-10-15-4 provides that employee benefit plans other than pension plans (such as health and welfare plans, both defined benefit and defined contribution) that provide information similar to that required by Topic 960 are not required to provide a statement of cash flows. However, that paragraph encourages inclusion of a statement of cash flows in the financial statements of an employee benefit plan if such a statement would provide relevant information about the ability of the plan to meet future obligations (for example, if the plan invests in assets that are not highly liquid or obtains financing for investments).
","snippet":"Paragraph 230-10-15-4 provides that employee benefit plans other than pension plans (such as health and welfare plans, both defined benefit and defined contribution) that provide information similar to that required by T…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:40eab3d641ebdda6fcc78861609fd0190912a22bfce9bae1a11ffa093da7927e","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bd828c06a7696edb550571d3f070f044199596c5cfb70709e370073f44911bbc","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"block":null,"heading":"401(h) Accounts","paragraphs":[{"citation":"205-965-45-6","para":"45-6","html":"
Certain retiree health benefits may be funded through a 401(h) account in a defined benefit pension plan, pursuant to Section 401(h) of the Internal Revenue Code. The 401(h) account assets and liabilities used to fund retiree health benefits, and the changes in those assets and liabilities, shall be reported in the financial statements of the health and welfare benefit plan.
","snippet":"Certain retiree health benefits may be funded through a 401(h) account in a defined benefit pension plan, pursuant to Section 401(h) of the Internal Revenue Code. The 401(h) account assets and liabilities used to fund re…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9d7854d675910f60a412c2d5b5ebf103dceda6649db2002b8044293f8b247240","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"citation":"205-965-45-7","para":"45-7","html":"
The 401(h) account assets and liabilities and changes in them can be shown in the health and welfare benefit plan financial statements in either of the following ways:
  1. a
    As a single line item on the face of the statements
  2. b
    Included in individual line items with separate disclosure in the notes to financial statements about the 401(h) amounts included in those individual line items.
","snippet":"The 401(h) account assets and liabilities and changes in them can be shown in the health and welfare benefit plan financial statements in either of the following ways:\n(a) As a single line item on the face of the stateme…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:111f0aed03347d862fb00f6345c98d70f06a830b630a93a63c424122996cf56c","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"citation":"205-965-45-8","para":"45-8","html":"
If the assets and liabilities are shown as a single line item in the statement of net assets, the changes in net assets also shall be shown as a single line item in the statement of changes in net assets. If the assets and liabilities are included in individual asset and liability line items in the statement of net assets, the changes in individual 401(h) amounts shall be included in the changes in the individual line items in the statement of changes in net assets, with separate disclosure in the notes about the 401(h) amounts included in those individual line items. The 401(h) obligations shall be reported in the health and welfare benefit plan's statement of benefit obligations. Likewise, the health and welfare benefit plan's statement of changes in benefit obligations shall include claims paid through the 401(h) account.
","snippet":"If the assets and liabilities are shown as a single line item in the statement of net assets, the changes in net assets also shall be shown as a single line item in the statement of changes in net assets. If the assets a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9f958676a3f876cf51212a403b1cf5ad42a59ada4a49310156136aa79a261415","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"citation":"205-965-45-9","para":"45-9","html":"
Illustrative financial statements of a health and welfare benefit plan funded through a 401(h) account in a separate defined benefit pension plan are presented in Example 4 (see paragraph 965-205-55-8).
","snippet":"Illustrative financial statements of a health and welfare benefit plan funded through a 401(h) account in a separate defined benefit pension plan are presented in Example 4 (see paragraph 965-205-55-8).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7baa1874aac139c103b7ae1f23f632198824cd5a9af6acc4cd338b818cdc925f","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6462f12ce25e226eb41dbd62a293ccaa70708e2213b93d716b0b50984e902f7c","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"block":null,"heading":"Employees' Beneficiary Association Trust","paragraphs":[{"citation":"205-965-45-10","para":"45-10","html":"
If the assets of more than one plan are held in a 501(c)(9) Voluntary Employees' Beneficiary Association trust, separate reports must be prepared for each plan. Some plans may pay only a portion of the plan's benefit payments and other expenses through the Association.
","snippet":"If the assets of more than one plan are held in a 501(c)(9) Voluntary Employees' Beneficiary Association trust, separate reports must be prepared for each plan. Some plans may pay only a portion of the plan's benefit pay…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3e14d0b8dc6a41188d8463c87aabf6a12a865de63a113267b2dc3241fa93bac8","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e14e6f52639fcb49e4c30683fbae575aba8ba1e07c785005fb534b6938f1a27e","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"block":null,"heading":"Interests in Master Trusts","paragraphs":[{"citation":"205-965-45-11","para":"45-11","html":"
For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statement of changes in net assets available for benefits, respectively. See Section 965-325-50 for master trust disclosures.
","snippet":"For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statemen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ffad07f7e4bb68341cd8b97ac3ff9236e58455b22e7bd0a869d23e34f3c8c7d2","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5f5f5f1f3e2767571a4ad086ef7a2ad0325a46f5a1be211143005a5502718b31","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:86e99ec88124f7dd6d19b435008bda77971a223fe77aa174372ef8fc2fba369a","downloaded_from":"2026-09-09T22:57:51.585Z","last_downloaded_at":"2026-09-09T22:57:51.585Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478938","source_sha256":"99a02be8dad40db1309927ef8b884fe2c3a92625ba0fc0536916a18dda4bcf0e"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-965-50-1","para":"50-1","html":"
The plan's financial statements shall disclose other information as described in this Subtopic. Certain of the disclosures relate to plans with accumulated assets rather than those with trusts that act more as conduits for benefit payments or insurance premiums. Separate disclosures may be made to the extent that the plan provides both health and other welfare benefits. The disclosures shall include, if applicable, all of the following:
  1. a
    A brief, general description of the plan agreement, including, but not limited to, participants covered, vesting, and benefit provisions. If a plan agreement or a description thereof providing this information is otherwise published or made available, the description in the financial statement disclosures may be omitted, provided that a reference to the other source is made.
  2. b
    A description of significant plan amendments adopted during the period, as well as significant changes in the nature of the plan (for example, a plan spinoff or merger with another plan) and changes in actuarial assumptions.
  3. c
    The funding policy and any changes in the policy made during the plan year. If the benefit obligations exceed the net assets of the plan, the method of funding this deficit, as provided for in the plan agreement or collective bargaining agreement, also shall be disclosed. If significant plan administration or related costs are being borne by the employer, that fact shall be disclosed. For a contributory plan, the disclosure shall state the method of determining participants' contributions. For each year for which a year-end statement of net assets available for benefits is presented, the plan shall disclose a description of the portion of the plan's estimated cost of providing postretirement benefits funded by retiree contributions. The plan's estimated cost of postretirement benefits is the plan's expected claims cost for the year. It excludes benefit costs paid by Medicare and costs, such as deductibles and copayments, paid directly to the medical provider by participants. The portion of the plan's estimated cost that is funded by retiree contributions is determined at the beginning of the year based on the plan sponsor's cost-sharing policy. In determining that amount, the retirees' required contribution for the year shall be reduced by any amounts intended to recover a shortfall (or increased by amounts intended to compensate for an overcharge) in attaining the desired cost-sharing in prior year(s). If the plan terms provide that a shortfall in attaining the intended cost sharing in the prior year(s) is to be recovered by increasing the retiree contribution in the current year, that incremental contribution shall be separately disclosed. Similarly, if the plan terms provide that participant contributions in the current year are to be reduced by the amount by which participant contributions in the prior year exceeded the amount needed to attain the desired cost-sharing, the resulting reduction in the current year contribution shall be separately disclosed. The information about retiree contributions shall be provided for each significant group of retired participants to the extent their contributions differ.
  4. d
    The federal income tax status of the plan.
  5. e
    The policy regarding the purchase of contracts with insurance entities that are excluded from plan assets. Consideration should be given to disclosing the type and extent of insurance coverage, as well as the extent to which risk is transferred (for example, coverage period and claims reported or claims incurred).
  6. f
    The amounts and types of securities of the employer and related parties included in plan assets, and the approximate amount of future annual benefits of plan participants covered by insurance contracts issued by the employer and related parties.
  7. g
    Significant real estate or other transactions in which the plan and any of the following parties are jointly involved:
    1. 1
      The sponsor
    2. 2
      The plan administrator
    3. 3
      Employers
    4. 4
      Employee organizations.
  8. h
    Unusual or infrequent events or transactions occurring after the financial statement date, but before the financial statements are issued or are available to be issued (as discussed in Section 855-10-25), that might significantly affect the usefulness of the financial statements in an assessment of the plan's present and future ability to pay benefits. For example, all of the following shall be disclosed:
    1. 1
      A plan amendment adopted after the latest financial statement date that significantly increases future benefits attributable to an employee's service rendered before that date
    2. 2
      A significant change in the fair value of a significant portion of the plan's assets
    3. 3
      The emergence of a catastrophic claim.
    If reasonably determinable, the effects of such events or transactions shall be disclosed. If such effects are not reasonably determinable, the reasons why they are not quantifiable shall be disclosed.
  9. i
    Any of the following commitments or contingencies:
    1. 1
      Material lease commitments
    2. 2
      Other commitments
    3. 3
      Contingent liabilities.
  10. j
    The assumed health care cost-trend rate(s) used to measure the expected cost of benefits covered by the plan for the next year, including both of the following:
    1. 1
      A general description of the direction and pattern of change in the assumed trend rates thereafter
    2. 2
      The ultimate trend rate(s) and when that rate is expected to be achieved.
  11. k
    For health and welfare benefit plans providing postretirement health care benefits, the effect of a one-percentage-point increase in the assumed health care cost-trend rates for each future year on the postretirement benefit obligation
  12. l
    Any modification of the existing cost-sharing provisions that are encompassed by the substantive plan(s) and the existence and nature of any commitment to increase monetary benefits provided by the plan and their effect on the plan's financial statements.
  13. m
    Termination provisions of the plan and priorities for distribution of assets, if applicable.
  14. n
    Restrictions, if any, on plan assets (for example, legal restrictions on multiple trusts)
  15. o
    For a defined contribution health and welfare plan, the accounting policy for, and the amount and disposition of, forfeited nonvested accounts. Specifically, identification of whether those amounts will be used to reduce future employer contributions, employer expenses, or will be allocated to participants' accounts.
","snippet":"The plan's financial statements shall disclose other information as described in this Subtopic. Certain of the disclosures relate to plans with accumulated assets rather than those with trusts that act more as conduits f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:25dfd28df1e1c8c9ac9633be81bd73ffc53d8a6bc0897f712a0ea8bd0b284aeb","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:335350449759a95fbd84d849f7bd9e5c7dc3f2476c9d9ea84eb4cc0ca270fb93","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}},{"block":null,"heading":"401(h) Accounts","paragraphs":[{"citation":"205-965-50-2","para":"50-2","html":"
See paragraphs
965-205-45-6 through 45-8
for disclosure requirements for 401(h) account assets and liabilities and the changes thereto if such information is not presented separately in the financial statements. The notes to financial statements shall disclose the significant components of net assets and changes in net assets of the 401(h) account.
","snippet":"See paragraphs 965-205-45-6 through 45-8 for disclosure requirements for 401(h) account assets and liabilities and the changes thereto if such information is not presented separately in the financial statements. The note…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b96b81999a2a35ae32a617e8b47756d4c01036b5269e8e4c4d08ace55a35e94c","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}},{"citation":"205-965-50-3","para":"50-3","html":"
If retiree health benefit obligations are funded partially through a 401(h) account of the defined benefit pension plan, the plan shall also disclose the fact that the assets are available only to pay retiree health benefits. The notes to financial statements shall disclose the significant components of net assets and changes in net assets of the 401(h) account. Additionally, the notes shall include a reconciliation of amounts reported in the financial statements to the amounts reported in the Form 5500 of the Internal Revenue Service (IRS).
","snippet":"If retiree health benefit obligations are funded partially through a 401(h) account of the defined benefit pension plan, the plan shall also disclose the fact that the assets are available only to pay retiree health bene…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:46a21c5321bb254c2c081bd0b30fd8352a675ca7bebf26a355176234aa6c8ace","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}},{"citation":"205-965-50-4","para":"50-4","html":"
Because the Employee Retirement Income Security Act requires 401(h) accounts to be reported as assets of the pension plan, a reconciliation of the net assets reported in the financial statements to those reported in the Form 5500 is required for the health and welfare benefit plan.
","snippet":"Because the Employee Retirement Income Security Act requires 401(h) accounts to be reported as assets of the pension plan, a reconciliation of the net assets reported in the financial statements to those reported in the …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cab6dadd1ea620eb249c1b5d240a4f93fab93bb376ce7b9bfc8e9f6795b3e0f2","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}},{"citation":"205-965-50-5","para":"50-5","html":"
A plan is not required to provide investment disclosures (for example, the disclosures required by Topic 815 on derivatives and hedging and Topic 820 on fair value measurement) for 401(h) account assets. A plan shall disclose the name of the defined benefit pension plan that allocated the funds to the health and welfare benefit plan and that provides the related investment disclosures.
","snippet":"A plan is not required to provide investment disclosures (for example, the disclosures required by Topic 815 on derivatives and hedging and Topic 820 on fair value measurement) for 401(h) account assets. A plan shall dis…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8636b9e599698b1b8e8f29d8b63acbbb46f26f1236910bcc755e265404ff8bfe","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:760262f1d406f1e26b08e0db2e33204f29646fd791ee6b74fa80992f4fd8ad56","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}},{"block":null,"heading":"Defined Benefit Health and Welfare Plans","paragraphs":[{"citation":"205-965-50-6","para":"50-6","html":"
Information about the benefit obligations shall be presented in a separate statement, combined with other information on another financial statement, or disclosed in the notes to financial statements. Regardless of the format selected, the plan financial statements shall present the benefit obligations information in its entirety in the same location. The information shall be presented in such reasonable detail as is necessary to identify the nature and classification of the obligations. See Examples 1 through 3 (paragraphs
965-205-55-2 through 55-7
) for illustrative financial statements of health and welfare benefit plans. (See paragraph 965-205-45-2.)
","snippet":"Information about the benefit obligations shall be presented in a separate statement, combined with other information on another financial statement, or disclosed in the notes to financial statements. Regardless of the f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1798243649e172ceb28cb438be117c6aa81ff8f9d1829741ef170cf267623cd6","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4214daf71a19583820bfb3b99b98e50d8391747476e15d0384ad9314d1718702","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:be4caad3ca79826ea5608c4ad82156b75dd311a54e7c569d0392914bb1d20260","downloaded_from":"2026-09-09T22:57:55.221Z","last_downloaded_at":"2026-09-09T22:57:55.221Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477184","source_sha256":"15dece7d7c6adfcf5944755ae8e93c3156f42a1df1349094080b5960cda23ef7"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"205-965-55-1","para":"55-1","html":"
This Section illustrates certain applications of the provisions of this Subtopic. It does not illustrate other provisions of this Subtopic that might apply in circumstances other than those assumed in these Examples. It also does not illustrate all disclosures required for a fair presentation in conformity with generally accepted accounting principles (GAAP). The formats presented and the wording of the accompanying notes are illustrative and are not necessarily the only possible presentations.
","snippet":"This Section illustrates certain applications of the provisions of this Subtopic. It does not illustrate other provisions of this Subtopic that might apply in circumstances other than those assumed in these Examples. It …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:601c825a176ce4d7331fb0c743d3e49d242e6c00194b375574b5322776f48af6","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}},{"citation":"205-965-55-2","para":"55-2","html":"
This Example illustrates the guidance in paragraphs 965-205-10-1 and
965-205-45-1 through 45-2
.
","snippet":"This Example illustrates the guidance in paragraphs 965-205-10-1 and 965-205-45-1 through 45-2.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:51363a46d97ca684ef32d54e12e51c524cc5ded309ef7eeae1d305015ca8152a","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}},{"citation":"205-965-55-3","para":"55-3","html":"
The plan in this Example pays all benefits directly from plan assets. It is assumed that the plan provides health benefits and life insurance coverage to both active and retired participants. This Example also assumes that the plan provides long-term disability benefits and limited coverage during periods of unemployment based on accumulated eligibility credits.
","snippet":"The plan in this Example pays all benefits directly from plan assets. It is assumed that the plan provides health benefits and life insurance coverage to both active and retired participants. This Example also assumes th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8d52d886ad63348b51cb2e47603506d423238c0b356a96223327275576c5fb58","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}},{"citation":"205-965-55-4","para":"55-4","html":"
","snippet":"ALLIED INDUSTRIES HEALTH CARE BENEFIT PLAN Allied Industries Health Care Benefit Plan Statements of Net Assets Available for Benefits December 31, 20X2 and 20X1\nThe accompanying notes are an integral part of the financia…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f7384afd0da5d0f9474118ce7156a24b1c963609be2a6b02a2d4700e56cb2086","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}},{"citation":"205-965-55-5","para":"55-5","html":"
This Example illustrates the guidance in paragraphs 965-205-10-1 and
965-205-45-1 through 45-2
.
","snippet":"This Example illustrates the guidance in paragraphs 965-205-10-1 and 965-205-45-1 through 45-2.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b83167b00bdd32b7cf3d16be48618066d19d249c179f9e15eb8c276185c85d3","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}},{"citation":"205-965-55-6","para":"55-6","html":"
The plan in this Example obtains insurance for current benefits from its assets and provides health benefits and life insurance coverage to both active and retired participants.
","snippet":"The plan in this Example obtains insurance for current benefits from its assets and provides health benefits and life insurance coverage to both active and retired participants.\nCLASSIC ENTERPRISES BENEFIT PLAN\nClassic E…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:48257c9d42ec3270bbc02e6ebab6e85759fa936380574bbad36b00f2af3f9f78","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}},{"citation":"205-965-55-7","para":"55-7","html":"
This Example illustrates the guidance in paragraphs 965-205-10-1 and
965-205-45-1 through 45-2
.
","snippet":"This Example illustrates the guidance in paragraphs 965-205-10-1 and 965-205-45-1 through 45-2.\nABC COMPANY SUPPLEMENTAL UNEMPLOYMENT BENEFIT PLAN\nSupplemental Unemployment Benefit Plan for Employees of ABC Company Estab…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4d3e18084753603bac87ac9b45cd29d9a0dbb2ff03bf4c3352d73b9e15266d53","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}},{"citation":"205-965-55-8","para":"55-8","html":"
This Example illustrates the guidance in paragraphs
965-205-45-6 through 45-8
and 965-205-50-3.
","snippet":"This Example illustrates the guidance in paragraphs 965-205-45-6 through 45-8 and 965-205-50-3.\nC&H Company Welfare Benefit Plan Statement of Net Assets Available for Plan Benefits\nThe accompanying notes are an integral …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:80495dfd65fd0efc1bdebc975c0ea573b84fcb9db9f18ad2e276b5ca7f44c4a5","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0696ecf70657ce3db1706b089f94644fa4db436695640217132cae8341891b09","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:90324d1c8fe50ccff511ae474398138cb542317ce841702c2e72de5bb8d66ad3","downloaded_from":"2026-09-09T22:57:57.986Z","last_downloaded_at":"2026-09-09T22:57:57.986Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478476","source_sha256":"ae7b8f05ee662dc4966a354265a9256685dca00a853d13b7f1bc4e9a9e2f8d48"}},{"number":"60","label":"60 Relationships","anchor":"60-relationships","is_sec":false,"groups":[{"block":null,"heading":"Comprehensive Income","paragraphs":[{"citation":"205-965-60-1","para":"60-1","html":"
For reporting requirements related to comprehensive income of a health and welfare benefit plan, see paragraphs
220-10-15-2 through 15-3
.
","snippet":"For reporting requirements related to comprehensive income of a health and welfare benefit plan, see paragraphs 220-10-15-2 through 15-3.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:410051c8e5ac4b78e0fa384e23428fe1ef49968151debbdb0b2a76ddf5367a04","downloaded_from":"2026-09-09T22:58:00.033Z","last_downloaded_at":"2026-09-09T22:58:00.033Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478228","source_sha256":"5efaf0b59450258401ecb84b40247b15b03372a28576d80602ba04eea3b1fd7c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de1ef19ae09621ca9b37bb029b56540107458a62175a96daca935e00da4fa5b8","downloaded_from":"2026-09-09T22:58:00.033Z","last_downloaded_at":"2026-09-09T22:58:00.033Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478228","source_sha256":"5efaf0b59450258401ecb84b40247b15b03372a28576d80602ba04eea3b1fd7c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8b686284d4345dd8d2c5fdad61ee6841636f728563af086fca3970944d03b682","downloaded_from":"2026-09-09T22:58:00.033Z","last_downloaded_at":"2026-09-09T22:58:00.033Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478228","source_sha256":"5efaf0b59450258401ecb84b40247b15b03372a28576d80602ba04eea3b1fd7c"}}],"enrichment":{"summary":"ASC 965-205 (indexed here as 205-965) prescribes the financial statement presentation for health and welfare benefit plans. Defined benefit plans must present, on the accrual basis, a statement of net assets available for benefits, a statement of changes in net assets available for benefits, information about the plan's benefit obligations, and the significant factors causing year-to-year changes in those obligations; defined contribution plans present only the two net-asset statements because the obligation is limited to participants' account balances. It also governs how retiree health benefits funded through a 401(h) account in the sponsor's defined benefit pension plan are reported in the health and welfare plan's financial statements, plus an extensive list of required note disclosures.","key_points":["A defined benefit health and welfare plan's GAAP financial statements are prepared on the accrual basis and include a statement of net assets available for benefits, a statement of changes in net assets available for benefits, information on benefit obligations at year-end, and the significant effects of factors changing those obligations (965-205-45-1).","Benefit obligation information may be shown in a separate statement, combined with another statement, or in the notes, but it must be presented in its entirety in the same location and in enough detail to identify the nature and classification of the obligations (965-205-45-2; 965-205-50-6).","A defined contribution health and welfare plan presents only a statement of net assets available for benefits and a statement of changes in net assets available for benefits; benefit obligation information is not applicable because the obligation is limited to the amounts in participants' accounts (965-205-45-3 through 45-4).","Health and welfare plans are not required to present a statement of cash flows if they provide information similar to that required by Topic 960, though one is encouraged when assets are not highly liquid or investments are financed (965-205-45-5; 230-10-15-4).","401(h) account assets, liabilities, and changes therein used to fund retiree health benefits are reported in the health and welfare plan's financial statements, either as a single line item or within individual line items with note disclosure; 401(h) obligations go in the plan's statement of benefit obligations and claims paid through the account go in the statement of changes in benefit obligations (965-205-45-6 through 45-8).","Because ERISA requires 401(h) accounts to be reported as pension plan assets, the health and welfare plan must reconcile net assets to Form 5500 and disclose that the assets are available only to pay retiree health benefits and the significant components of the account's net assets and changes; Topic 815 and 820 investment disclosures are not required for 401(h) assets if the pension plan providing them is named (965-205-50-3 through 50-5).","Required disclosures include a description of the plan and amendments, funding policy and the portion of estimated postretirement cost funded by retiree contributions, tax status, insurance policies, party-in-interest transactions, subsequent events, assumed health care cost-trend rates, and the effect of a one-percentage-point increase in those trend rates on the postretirement benefit obligation (965-205-50-1)."],"categories":["Financial statement presentation","Disclosure","Compensation and benefits","Presentation"],"audience_level":"advanced","student_note":"Exam questions often turn on the difference between defined benefit and defined contribution health and welfare plans: only defined benefit plans report benefit obligations, because a defined contribution plan's obligation is capped at the participant's account balance. A second common trap is the 401(h) account — even though ERISA treats it as a pension plan asset (hence the Form 5500 reconciliation), GAAP requires it and the related retiree health obligations to be reported in the health and welfare plan's statements, not the pension plan's.","related_topics":["965-20","965-30","965-325","960","962","230-10"],"key_concepts":["health and welfare benefit plan","net assets available for benefits","benefit obligations","401(h) account","postretirement benefit obligation","health care cost-trend rate","accrual basis of accounting","form 5500 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Statements","score":0.8448,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e71d3226d02e96ad37c74b01f59b23820a81ef8b03ebda5acdb9de5fc8f5fb47","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"325-962","title":"Plan Accounting—Defined Contribution Pension 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Associations","area":"Presentation","paragraphs":21,"summary":"This Subtopic governs how common interest realty associations (CIRAs)—condominium and homeowners associations and cooperatives—present their financial statements, emphasizing fund reporting that segregates the operating fund from the fund for future major repairs and replacements. A full GAAP presentation requires a balance sheet, statement of revenues and expenses, statement of changes in fund balances (or members' equity under nonfund reporting), statement of cash flows, and notes; cooperatives instead present a statement of operations and statement of changes in shareholders' equity.","concepts":["common interest realty association","fund reporting","operating fund","major repair and replacement fund","interfund transfers","interfund receivables and payables","members' equity","cooperative financial statements"],"categories":["Presentation","Financial statement presentation","Industry-specific","Disclosure"],"level":"intermediate","topic_title":"Presentation of Financial Statements","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-972-05-1","para":"05-1","html":"
This Subtopic addresses fund reporting and financial statement requirements for common interest realty associations.
","snippet":"This Subtopic addresses fund reporting and financial statement requirements for common interest realty associations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:99a065d01dede2b012bbcbbf776d3e385c66406d06a18e1081a750faba4a2fdc","downloaded_from":"2026-09-09T22:58:02.817Z","last_downloaded_at":"2026-09-09T22:58:02.817Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478700","source_sha256":"8ef981f3aca24fe76f3403144d56de64edb4c6ac4c904caa57a7116a4ef8566f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3fd931ce67d4527f124d26bd94f0d9436d8b6e168933d6a55ad95e0e728e4f79","downloaded_from":"2026-09-09T22:58:02.817Z","last_downloaded_at":"2026-09-09T22:58:02.817Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478700","source_sha256":"8ef981f3aca24fe76f3403144d56de64edb4c6ac4c904caa57a7116a4ef8566f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:35f2d91a584a671e850d5c8ef88b941ff8ae0f6b46f976cb31915b8eba8521b3","downloaded_from":"2026-09-09T22:58:02.817Z","last_downloaded_at":"2026-09-09T22:58:02.817Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478700","source_sha256":"8ef981f3aca24fe76f3403144d56de64edb4c6ac4c904caa57a7116a4ef8566f"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"205-972-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 972-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 972-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e460ff40e87d26c66bf8843cdc74b981a33fbf203226571c776d46b0eec403f","downloaded_from":"2026-09-09T22:58:06.282Z","last_downloaded_at":"2026-09-09T22:58:06.282Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479215","source_sha256":"66461923c419d010cbc18572616e198bc2cf06dbec69a8cc5f505036cf004572"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c6310cd3e51ce200d893663185344ccffaa59163d2cda2c7ab13af4a1c4e037f","downloaded_from":"2026-09-09T22:58:06.282Z","last_downloaded_at":"2026-09-09T22:58:06.282Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479215","source_sha256":"66461923c419d010cbc18572616e198bc2cf06dbec69a8cc5f505036cf004572"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:24a83f4e45bc8b709af7bcc77265d77809506a138d3b5526b04f48d3d13e7373","downloaded_from":"2026-09-09T22:58:06.282Z","last_downloaded_at":"2026-09-09T22:58:06.282Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479215","source_sha256":"66461923c419d010cbc18572616e198bc2cf06dbec69a8cc5f505036cf004572"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Fund Reporting","paragraphs":[{"citation":"205-972-45-1","para":"45-1","html":"
Assets transferred to the common interest realty association by the developer and recognized in the balance sheet shall be reported as additions to the operating fund balance (or property fund, if such a fund is established). A common interest realty association may not need to use fund reporting if it does not assess for future major repairs and replacements.
","snippet":"Assets transferred to the common interest realty association by the developer and recognized in the balance sheet shall be reported as additions to the operating fund balance (or property fund, if such a fund is establis…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:442a2aee5abf4deb35974be32249aa94029f6a08045f9577bb2faa62314cafcd","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-2","para":"45-2","html":"
Common interest realty associations that assess owners annually for portions of future major repairs and replacements shall report those assessed amounts separately from amounts assessed for normal operations. If a common interest realty association uses fund reporting, amounts assessed for future major repairs and replacements shall be reported in the major repair and replacement fund separately from transactions in the operating fund. Transfers between funds that are not part of the current-period operating revenues shall be presented only in a statement of changes in fund balances or in a statement of changes in members' equity, if a nonfund reporting approach is used. (See paragraphs
972-235-50-2 through 50-3
for recommended disclosures.)
","snippet":"Common interest realty associations that assess owners annually for portions of future major repairs and replacements shall report those assessed amounts separately from amounts assessed for normal operations. If a commo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b9fa0c6b0ab0244c98b3c7c6bc8e813d79df84a582efb17c612a0e7a51b977e","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-3","para":"45-3","html":"
Some common interest realty associations may also conduct commercial operations or separate business activities, such as rental operations, in addition to their primary activities. Such activities may be reported on as one or more additional funds.
","snippet":"Some common interest realty associations may also conduct commercial operations or separate business activities, such as rental operations, in addition to their primary activities. Such activities may be reported on as o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fa973b84246b8af7391735758859dac8beaa294186b4646dd60edd0104346285","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5ee5354ba5e2607369ab31455e72e45dd64bb1994663278e7d49767f8c470c6f","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"block":null,"heading":"Nonfund Reporting","paragraphs":[{"citation":"205-972-45-4","para":"45-4","html":"
Nonfund reporting is an alternative to fund reporting. However, fund reporting is more informative to users, because financial statements using nonfund reporting often do not disclose whether assessments have been used for purposes other than those for which they were designated. For example, if nonfund reporting is used, a user of financial statements may be unable to determine whether assessments for future major repairs and replacements have been used in current operations.
","snippet":"Nonfund reporting is an alternative to fund reporting. However, fund reporting is more informative to users, because financial statements using nonfund reporting often do not disclose whether assessments have been used f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3a436335530524685403d875ffc4674a15fcb16859fc2abbb4c17b9887e59f2a","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-5","para":"45-5","html":"
Because this Subtopic primarily addresses the fund reporting approach, readers should substitute the term members' equity for the term fund balance if financial statements using nonfund reporting are presented. Furthermore, the fund for major repairs and replacements would be presented as an appropriation of retained earnings in such financial statements.
","snippet":"Because this Subtopic primarily addresses the fund reporting approach, readers should substitute the term members' equity for the term fund balance if financial statements using nonfund reporting are presented. Furthermo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f34fdf2aa7237abd573ce9be1486e7082a57ba996174c3f8e57d2c478163e8cd","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d7bea86192feb64094070a044881f2205ab71b02829905a55cbf24af1e9ad4e1","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"block":null,"heading":"Financial Statement Requirements","paragraphs":[{"citation":"205-972-45-6","para":"45-6","html":"
Full presentations of financial statements for common interest realty associations presented in conformity with generally accepted accounting principles (GAAP) shall include all of the following:
  1. a
    A balance sheet
  2. b
    A statement of revenues and expenses
  3. c
    A statement of changes in fund balances or a statement of changes in members' equity if nonfund reporting is used
  4. d
    A statement of cash flows
  5. e
    Notes to financial statements.
","snippet":"Full presentations of financial statements for common interest realty associations presented in conformity with generally accepted accounting principles (GAAP) shall include all of the following:\n(a) A balance sheet\n(b) …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:68274e5f886f1cbe0b97155a8d5a3e6c9ae8710575332199a4ea2737b51905c9","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-7","para":"45-7","html":"
Information about the operating fund shall present assets, liabilities, and the fund balance specifically associated with the common interest realty association's normal maintenance and service activities. For example, the operating fund shall include information about cash, assessments receivable, prepaid expenses, and trade payables. Property and equipment, if reported as assets, are generally reported in the operating fund. If the amount of property and equipment held by a common interest realty association is significant, the common interest realty association may account for it in a separate fund.
","snippet":"Information about the operating fund shall present assets, liabilities, and the fund balance specifically associated with the common interest realty association's normal maintenance and service activities. For example, t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:46a358ed63ed3cf5eba161228d471b38d70a961baef7cf269ec3a002e40c8063","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-8","para":"45-8","html":"
The presentation of information about the fund for major repairs and replacements (the replacement fund) shall include information about assets, liabilities, and the fund balance specifically associated with the common interest realty association's long-term major repair and replacement activities. The fund includes all assets that are held, for example, for the future replacement of roofs, roads, and furniture (some common interest realty associations may have a deferred maintenance fund which is used for painting or refinishing of building exteriors). Those assets usually consist of cash, marketable securities, and short-term investments. Liabilities in that fund generally are for work done on contracts for major repairs and replacements.
","snippet":"The presentation of information about the fund for major repairs and replacements (the replacement fund) shall include information about assets, liabilities, and the fund balance specifically associated with the common i…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad3a0a747a4b1857012e3ce55844162a080695f14ae600931b43e3e657f8dac8","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-9","para":"45-9","html":"
The statement of revenues and expenses shall present information about all assessments, other revenues, and expenses. All common interest realty association activities, except for replacement fund activities, shall be presented in the operating fund in the statement of revenues and expenses unless the common interest realty association has other funds such as a deferred maintenance fund or a capital improvement fund, and so forth. Depreciation shall be reported as an expense of the fund in which the asset is reported.
","snippet":"The statement of revenues and expenses shall present information about all assessments, other revenues, and expenses. All common interest realty association activities, except for replacement fund activities, shall be pr…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f069109b8d335fb910b9d640e39c7ced34a0425fcbeb7c2e1d546d9b9c4f4d3e","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-10","para":"45-10","html":"
The financial statements shall include a statement of changes in fund balances, which reconciles beginning and ending fund balances with results of operations for the period. The statement may be presented separately or may be combined with the statement of revenues and expenses. Permanent transfers between funds shall be presented as interfund transfers in the statement of changes in fund balances, not as revenues. For example, if the board of directors transfers excess operating funds to the replacement fund at the end of an operating year, the interfund transfer shall be shown in the statement of changes in fund balances, not by reclassifying revenues.
","snippet":"The financial statements shall include a statement of changes in fund balances, which reconciles beginning and ending fund balances with results of operations for the period. The statement may be presented separately or …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:57fa8f15fad09f140cca245f3ec3737d3fe96569595d9e2e947409fef9f10c77","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:daffe8f95c5a47988ebcfb95da652b6ffaecc0928845ed02baf8ab2c2011837e","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"block":null,"heading":"Interfund Receivables and Payables","paragraphs":[{"citation":"205-972-45-11","para":"45-11","html":"
Common interest realty associations may have interfund receivables and payables resulting from any of the following:
  1. a
    Obligations of one fund are paid for with the assets of another fund.
  2. b
    Amounts assessed for the activities of one fund are collected, but not transferred, by another fund.
","snippet":"Common interest realty associations may have interfund receivables and payables resulting from any of the following:\n(a) Obligations of one fund are paid for with the assets of another fund.\n(b) Amounts assessed for the …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b36b05fb6ce2a951a7a72ef428b588922dfd50cf930b98d74a8d0a726ca67d3","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-12","para":"45-12","html":"
Corresponding interfund receivables and payables shall be presented to highlight the transactions resulting in those balances and to provide information about amounts assessed and collected that were not used in accordance with the budget.
","snippet":"Corresponding interfund receivables and payables shall be presented to highlight the transactions resulting in those balances and to provide information about amounts assessed and collected that were not used in accordan…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4f4d4797ea9115f2a249cf91ac2f1d3b3d397c92089a1892af446abb1280e719","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2adfe376e6a72791f4ddf052a06402da4a41df4a9a5acdf78fb8ab17eca5e1cd","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"block":null,"heading":"Unclassified Balance Sheets","paragraphs":[{"citation":"205-972-45-13","para":"45-13","html":"
Common interest realty associations can generally present unclassified balance sheets. Common interest realty associations having significant commercial operations, however, should consider presenting classified balance sheets.
","snippet":"Common interest realty associations can generally present unclassified balance sheets. Common interest realty associations having significant commercial operations, however, should consider presenting classified balance …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5a531b75dc8ed64dcc844833a9869a024e10c3f89d6708361719782c12491f18","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:072c2a6bc142a43f760128948b206ab86aaa51a87e6dffe87dacae59afdbde04","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"block":null,"heading":"Cooperatives","paragraphs":[{"citation":"205-972-45-14","para":"45-14","html":"
Cooperatives shall present all of the following:
  1. a
    A balance sheet
  2. b
    A statement of operations
  3. c
    A statement of changes in shareholders' equity
  4. d
    A statement of cash flows
  5. e
    Notes to financial statements
  6. f
    The supplementary information required by paragraph 972-235-50-3.
","snippet":"Cooperatives shall present all of the following:\n(a) A balance sheet\n(b) A statement of operations\n(c) A statement of changes in shareholders' equity\n(d) A statement of cash flows\n(e) Notes to financial statements\n(f) Th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:45c18ff5f5bfae04894d56b600bfe4f7b8e2dc41b7ed664aaf2f8ca004635ce7","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-15","para":"45-15","html":"
Statements of operations of cooperatives shall present information about all revenues and expenses. Reported revenues shall include all charges to tenant-shareholders and other income. If per-share data are deemed useful, they shall be considered for disclosure in the notes to the financial statements.
","snippet":"Statements of operations of cooperatives shall present information about all revenues and expenses. Reported revenues shall include all charges to tenant-shareholders and other income. If per-share data are deemed useful…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:52fa2e869142b9ee3fbf9cdcf6f9d4eeae18d1a3aa6d52884f441c0e7d329c19","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"citation":"205-972-45-16","para":"45-16","html":"
A statement of retained earnings (deficit) may be combined with the statement of operations. If there is activity in paid-in capital, a separate statement of shareholders' equity should be prepared.
","snippet":"A statement of retained earnings (deficit) may be combined with the statement of operations. If there is activity in paid-in capital, a separate statement of shareholders' equity should be prepared.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:243d8bcf43105669441adf0ad468b4f9026a6f57ad039e3e3989e111cfa61cae","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:74836f942afc1635c8df2c80a8b20a495bfd324e40595e274935f6fe980b1e48","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dc0cf5fbd6cf2f2ab7c5ef99d6b72ef6dc23ade5123da26f4c5ee95b076e1cba","downloaded_from":"2026-09-09T22:58:10.732Z","last_downloaded_at":"2026-09-09T22:58:10.732Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477473","source_sha256":"db89c8253646d9102a821c63d0bafb86bcec4310de85ce2357ed814e4dfbb759"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Cooperatives","paragraphs":[{"citation":"205-972-50-1","para":"50-1","html":"
Components of retained earnings or deficit shall not be disclosed. Allocating a portion of retained earnings to an amount equal to accumulated depreciation is an unacceptable practice.
","snippet":"Components of retained earnings or deficit shall not be disclosed. Allocating a portion of retained earnings to an amount equal to accumulated depreciation is an unacceptable practice.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c8709ec815440dfb2d0d18b709d85f4dfff2fa4cdc64e1b881ca3157ebf49d62","downloaded_from":"2026-09-09T22:58:14.869Z","last_downloaded_at":"2026-09-09T22:58:14.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478812","source_sha256":"fc10e35334625d0d131ce283a675934436c59914506aedb68c769272600e8c2b"}},{"citation":"205-972-50-2","para":"50-2","html":"
The notes to the financial statements should disclose a cooperative's funding policy, if any, for future major repairs and replacements, as discussed in paragraph 972-235-50-2.
","snippet":"The notes to the financial statements should disclose a cooperative's funding policy, if any, for future major repairs and replacements, as discussed in paragraph 972-235-50-2.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ffed6afb8cfcc5437d2726062293bf0fb88f39165ebc4d7dd5dd3b120b0f5748","downloaded_from":"2026-09-09T22:58:14.869Z","last_downloaded_at":"2026-09-09T22:58:14.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478812","source_sha256":"fc10e35334625d0d131ce283a675934436c59914506aedb68c769272600e8c2b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:54bee84a9defbd676e591dea742c9b471a733325a2d2b2225a477e373441a439","downloaded_from":"2026-09-09T22:58:14.869Z","last_downloaded_at":"2026-09-09T22:58:14.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478812","source_sha256":"fc10e35334625d0d131ce283a675934436c59914506aedb68c769272600e8c2b"}},{"block":null,"heading":"Other Matters","paragraphs":[{"citation":"205-972-50-3","para":"50-3","html":"
See paragraph 972-205-45-15 for guidance on disclosing per-share information.
","snippet":"See paragraph 972-205-45-15 for guidance on disclosing per-share information.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ae3f5bcd1339a98479e2c2d5f14f6d69f5f04dcb1425124abd18e33d264336f3","downloaded_from":"2026-09-09T22:58:14.869Z","last_downloaded_at":"2026-09-09T22:58:14.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478812","source_sha256":"fc10e35334625d0d131ce283a675934436c59914506aedb68c769272600e8c2b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d62b4b0d216c2a4de67bc9a0b76dc77f1dc561e53072372d18a10ae8acaf308","downloaded_from":"2026-09-09T22:58:14.869Z","last_downloaded_at":"2026-09-09T22:58:14.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478812","source_sha256":"fc10e35334625d0d131ce283a675934436c59914506aedb68c769272600e8c2b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7fba39573ffc24bfeae903c3d38d240a492f9bf9c70b2f3df6db8ed6f7a04440","downloaded_from":"2026-09-09T22:58:14.869Z","last_downloaded_at":"2026-09-09T22:58:14.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478812","source_sha256":"fc10e35334625d0d131ce283a675934436c59914506aedb68c769272600e8c2b"}}],"enrichment":{"summary":"This Subtopic governs how common interest realty associations (CIRAs)—condominium and homeowners associations and cooperatives—present their financial statements, emphasizing fund reporting that segregates the operating fund from the fund for future major repairs and replacements. A full GAAP presentation requires a balance sheet, statement of revenues and expenses, statement of changes in fund balances (or members' equity under nonfund reporting), statement of cash flows, and notes; cooperatives instead present a statement of operations and statement of changes in shareholders' equity.","key_points":["Amounts assessed for future major repairs and replacements must be reported separately from amounts assessed for normal operations, and under fund reporting are shown in the major repair and replacement (replacement) fund (205-972-45-2).","Assets transferred to the CIRA by the developer and recognized on the balance sheet are reported as additions to the operating fund balance (or property fund) (205-972-45-1); a CIRA that does not assess for future major repairs and replacements may not need fund reporting.","A full GAAP presentation includes a balance sheet, statement of revenues and expenses, statement of changes in fund balances (or members' equity), statement of cash flows, and notes (205-972-45-6); cooperatives present a balance sheet, statement of operations, statement of changes in shareholders' equity, statement of cash flows, notes, and the supplementary information required by 972-235-50-3 (205-972-45-14).","The operating fund holds assets, liabilities, and fund balance tied to normal maintenance and service activities (cash, assessments receivable, prepaid expenses, trade payables, and generally property and equipment), while the replacement fund holds cash, marketable securities, and short-term investments for future replacements and related contract liabilities (205-972-45-7 through 45-8).","Permanent transfers between funds are presented as interfund transfers in the statement of changes in fund balances and may not be reported as revenues or by reclassifying revenues (205-972-45-2, 45-10); depreciation is an expense of the fund in which the asset is reported (205-972-45-9).","Corresponding interfund receivables and payables must be presented to highlight amounts assessed and collected that were not used in accordance with the budget (205-972-45-11 through 45-12).","Components of retained earnings or deficit shall not be disclosed, and allocating retained earnings to an amount equal to accumulated depreciation is unacceptable (205-972-50-1); under nonfund reporting the replacement fund is presented as an appropriation of retained earnings (205-972-45-5)."],"categories":["Presentation","Financial statement presentation","Industry-specific","Disclosure"],"audience_level":"intermediate","student_note":"CIRA reporting is a rare GAAP survivor of fund accounting outside not-for-profits; the classic exam trap is treating a board's transfer of excess operating funds to the replacement fund as revenue instead of an interfund transfer in the statement of changes in fund balances.","related_topics":["972-10","972-205","972-235","958-205"],"key_concepts":["common interest realty association","fund reporting","operating fund","major repair and replacement fund","interfund transfers","interfund receivables and payables","members' equity","cooperative financial statements"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c3ccfb05bec10d79ac607b5a5e8342b2c0a5fb236488c211493d22ea0fc7910b","downloaded_from":"2026-09-09T22:58:02.817Z","last_downloaded_at":"2026-09-09T22:58:14.869Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"235-972","title":"Real Estate—Common Interest Realty Associations","topic_title":"Notes to Financial 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retrieval timestamps"}}],"prev":{"number":"205-965","title":"Plan Accounting—Health and Welfare Benefit Plans","topic_title":"Presentation of Financial Statements","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2be998093cc9fe1fa9674f892b275030af599f5bf6618b456897f32b35716094","downloaded_from":"2026-09-09T22:57:36.115Z","last_downloaded_at":"2026-09-09T22:58:00.033Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"210-10","title":"Overall","topic_title":"Balance 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statements: what a full set of statements includes, how comparative periods must be presented and any change in basis or reclassification explained (205-10), when a disposal qualifies as a discontinued operation and how it is presented and disclosed (205-20), when an entity must abandon going-concern accounting for the liquidation basis because liquidation is \"imminent\" (205-30), and management's required each-period evaluation of substantial doubt about the entity's ability to continue as a going concern within one year after issuance (205-40). Layered on top are industry-specific presentation Subtopics — agriculture (205-905), health care (205-954), investment companies (205-946), not-for-profit entities (958-205), common interest realty associations (205-972), and the employee benefit plan Subtopics for defined benefit pension (960-205), defined contribution (962-205), and health and welfare plans (965-205) — while 205-915 (development stage entities) was entirely superseded by ASU 2014-10. The unifying idea is that the going concern basis is presumed unless liquidation is imminent, and that financial statements must be presented in a comparable, clearly labeled form that lets users assess an entity's continuing operations, disposals, and ability to meet obligations.","concepts":["full set of financial statements","comparative financial statements and comparability","discontinued operations and strategic shift","held-for-sale criteria","liquidation basis of accounting","liquidation is imminent","substantial doubt about going concern","net assets with and without donor restrictions"],"categories":["Financial statement presentation","Presentation","Disclosure","Not-for-profit"],"level":"intermediate","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa174c6919f145ff79237957471371a942f3e67459870e4c3749b9bdbab5c746","downloaded_from":"2026-09-09T22:51:47.839Z","last_downloaded_at":"2026-09-09T22:58:14.869Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}