ASC

ASC 225-10

Overall

225 Income Statement

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In brief

IntroductoryPresentationFinancial statement presentationTransition and effective dates

ASC 225-10 was the "Overall" subtopic of the Income Statement topic, but every one of its paragraphs (Sections 05 Background, 15 Scope, and 45 Other Presentation Matters) was superseded by Maintenance Update 2017-19. As a result, the subtopic contains no substantive guidance; income statement presentation guidance now resides in ASC 220 (Income Statement—Reporting Comprehensive Income) and other presentation topics.

Key points (4)
  • All content of ASC 225-10 — paragraphs 225-10-05-1 through 05-5, 225-10-15-1 through 15-3, and 225-10-45-1 — was superseded by Maintenance Update 2017-19, leaving the subtopic empty of operative guidance.
  • Because no recognition, measurement, or presentation rules remain in 225-10, it cannot be cited as authoritative support for an accounting or presentation conclusion.
  • Guidance formerly organized under Topic 225 (Income Statement) was relocated, principally into Topic 220, Income Statement—Reporting Comprehensive Income, as part of the FASB's codification maintenance and restructuring.
  • Superseded paragraph numbers are retained in the Codification as placeholders so users can trace the history of moved or deleted guidance.

For students. Do not waste time looking for income statement rules in ASC 225-10 — it is an empty shell after Maintenance Update 2017-19; the common mistake is citing legacy Topic 225 when the live guidance is in ASC 220 and related presentation topics.

superseded guidanceincome statement presentationcodification restructuringplaceholder paragraphsscopeauthoritative literature

Machine-generated study aid for ASC 225-10. Check the source paragraphs below.

225-10-00Status

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225-10-00-1
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
225-10-05-1 through 05-5
 Superseded Maintenance Update 2017-19 (PDF) 11/15/2017
225-10-05-1 Amended Accounting Standards Update No. 2015-01 01/09/2015
225-10-05-4 Amended Accounting Standards Update No. 2015-01 01/09/2015
225-10-15-1 through 15-3
 Superseded Maintenance Update 2017-19 (PDF) 11/15/2017
225-10-45-1 Superseded Maintenance Update 2017-19 (PDF) 11/15/2017

225-10-05Overview and Background

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225-10-15Scope and Scope Exceptions

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225-10-20Glossary

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225-10-45Other Presentation Matters

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225-10-S00StatusSEC

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225-10-S15Scope and Scope ExceptionsSEC

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Entities

225-10-S20GlossarySEC

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225-10-S25RecognitionSEC

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225-10-S30Initial MeasurementSEC

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225-10-S45Other Presentation MattersSEC

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225-10-S50DisclosureSEC

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225-10-S99SEC MaterialsSEC

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