{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/210/10/#50-disclosure","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"210","topic_title":"Balance Sheet","subtopic":"210-10","subtopic_title":"Overall","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Current Assets","paragraphs":[{"citation":"210-10-50-1","para":"50-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_6ABD34E8-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">It is important that the amounts at which <a href=\"/glossary/c/#current-assets\" class=\"term\" title=\"Current assets is used to designate cash and other assets or resources commonly identified as those that are reasonably expected to be realized in cash or sold or consumed during the normal operating cycle of the business. See paragraphs 210-10-45-1210-10-45-2210-10-45-3210-10-45-4.\"><span>current assets</span></a> are stated be supplemented by information that reveals, for the various classifications of inventory items, the basis upon which their amounts are stated and, where practicable, indication of the method of determining the cost—for example, average cost, first-in first-out (FIFO), last-in first-out (LIFO), and so forth. </span></span></div></div>","snippet":"It is important that the amounts at which current assets are stated be supplemented by information that reveals, for the various classifications of inventory items, the basis upon which their amounts are stated and, wher…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f70b4bed359e166b9485e599962949999773f98c75d8c9a7550e3f80043f2183","downloaded_from":"2026-09-09T22:58:33.760Z","last_downloaded_at":"2026-09-09T22:58:33.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483489","source_sha256":"bd73592493f7ef020bb86ba2f6e3d9e7dd6aaea9d15a6402e68d8a0de63c0e6e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:11fff7b8bdf5b08e9717594e22d3e65dcfb56b3671ab1517b5e4c4c4a4f5c71a","downloaded_from":"2026-09-09T22:58:33.760Z","last_downloaded_at":"2026-09-09T22:58:33.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483489","source_sha256":"bd73592493f7ef020bb86ba2f6e3d9e7dd6aaea9d15a6402e68d8a0de63c0e6e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b5d8928c376d009208d4616f62442cee2a5832c84412f38100efc72a4cae413c","downloaded_from":"2026-09-09T22:58:33.760Z","last_downloaded_at":"2026-09-09T22:58:33.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483489","source_sha256":"bd73592493f7ef020bb86ba2f6e3d9e7dd6aaea9d15a6402e68d8a0de63c0e6e"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b5d8928c376d009208d4616f62442cee2a5832c84412f38100efc72a4cae413c","downloaded_from":"2026-09-09T22:58:33.760Z","last_downloaded_at":"2026-09-09T22:58:33.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483489","source_sha256":"bd73592493f7ef020bb86ba2f6e3d9e7dd6aaea9d15a6402e68d8a0de63c0e6e"}}