ASC 225-958
Not-for-Profit Entities
225 Income Statement
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In brief
IntroductoryNot-for-profitPresentationFinancial statement presentationTransition and effective datesASC 225-958 was the income statement subtopic for not-for-profit entities, but every paragraph in it (Sections 05, 15, 45, 50, and 55) was superseded by Maintenance Update 2017-19. The subtopic contains no remaining substantive guidance; its former content on presenting a not-for-profit entity's statement of activities was relocated as part of the Codification's reorganization of not-for-profit presentation guidance.
Key points (4)
- Every paragraph of ASC 225-958 (05-1 through 05-3, 15-1 through 15-2, 45-1 through 45-26, 50-1, and 55-1 through 55-20) is designated 'Paragraph superseded by Maintenance Update 2017-19.'
- No recognition, measurement, presentation, or disclosure requirement remains in effect under this subtopic.
- Not-for-profit statement of activities presentation guidance now resides in Topic 958, principally ASC 958-205 and ASC 958-225.
- Topic 225 as a whole has been largely superseded in favor of Topic 220 (Income Statement-Reporting Comprehensive Income), so older cross-references to 225-958 should be updated.
For students. Do not cite ASC 225-958 for any live rule-it is entirely superseded; look instead to ASC 958-205 and 958-225 for not-for-profit statement of activities presentation. The common mistake is relying on older textbooks or research databases that still reproduce the superseded 225-958 paragraphs as current GAAP.
Machine-generated study aid for ASC 225-958. Check the source paragraphs below.
225-958-00Status
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225-958-05Overview and Background
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225-958-15Scope and Scope Exceptions
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225-958-20Glossary
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225-958-45Other Presentation Matters
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225-958-50Disclosure
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225-958-55Implementation Guidance and Illustrations
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