{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/235/10/#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":"235","topic_title":"Notes to Financial Statements","subtopic":"235-10","subtopic_title":"Overall","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Accounting Policies Disclosure","paragraphs":[{"citation":"235-10-50-1","para":"50-1","html":"
Information about the accounting policies adopted by an entity is essential for financial statement users. When financial statements that are issued or are available to be issued (as discussed in Section 855-10-25) purport to present fairly financial position, cash flows, and results of operations in accordance with generally accepted accounting principles (GAAP), a description of all significant accounting policies of the entity shall be included as an integral part of the financial statements. In circumstances where it may be appropriate to issue one or more of the basic financial statements without the others, purporting to present fairly the information given in accordance with GAAP, statements so presented also shall include disclosure of the pertinent accounting policies.
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The provisions of paragraph 235-10-50-1 are not intended to apply to unaudited financial statements issued as of a date between annual reporting dates (for example, each quarter) if the reporting entity has not changed its accounting policies since the end of its preceding fiscal year.
","snippet":"The provisions of paragraph 235-10-50-1 are not intended to apply to unaudited financial statements issued as of a date between annual reporting dates (for example, each quarter) if the reporting entity has not changed i…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a2a13e5f07c88667e175f86e1891ad52863826e21e84cc646e3d8f6037a8c548","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3719b508d0da3d3c1b7732f68f741c6efa938e15af4c60eaf61a891eae66c779","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}},{"block":null,"heading":"What to Disclose","paragraphs":[{"citation":"235-10-50-3","para":"50-3","html":"
Disclosure of accounting policies shall identify and describe the accounting principles followed by the entity and the methods of applying those principles that materially affect the determination of financial position, cash flows, or results of operations. In general, the disclosure shall encompass important judgments as to appropriateness of principles relating to recognition of revenue and allocation of asset costs to current and future periods; in particular, it shall encompass those accounting principles and methods that involve any of the following:
  1. a
    A selection from existing acceptable alternatives
  2. b
    Principles and methods peculiar to the industry in which the entity operates, even if such principles and methods are predominantly followed in that industry
  3. c
    Unusual or innovative applications of GAAP.
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Examples of disclosures by an entity commonly required with respect to accounting policies would include, among others, those relating to the following:
  1. a
    Basis of consolidation
  2. b
    Depreciation methods
  3. c
    Amortization of intangibles
  4. d
    Inventory pricing
  5. e
    Recognition of revenue from contracts with customers
  6. f
    Recognition of revenue from leasing operations.
","snippet":"Examples of disclosures by an entity commonly required with respect to accounting policies would include, among others, those relating to the following:\n(a) Basis of consolidation\n(b) Depreciation methods\n(c) Amortizatio…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ee1133a77690ee1abb3c3d2c8e96faaed2550d0871cdf5365e7df658e3712fa3","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7d5bbf783355257f4411e3949980c84816b07c7cccdafa335eabf999396a09b7","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}},{"block":null,"heading":"Avoid Duplicate Details of Disclosures","paragraphs":[{"citation":"235-10-50-5","para":"50-5","html":"
Financial statement disclosure of accounting policies shall not duplicate details (for example, composition of inventories or of plant assets) presented elsewhere as part of the financial statements. In some cases, the disclosure of accounting policies shall refer to related details presented elsewhere as part of the financial statements; for example, changes in accounting policies during the period shall be described with cross-reference to the disclosure required by Topic 250.
","snippet":"Financial statement disclosure of accounting policies shall not duplicate details (for example, composition of inventories or of plant assets) presented elsewhere as part of the financial statements. In some cases, the d…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4ea66ed74104a1a7ad83d02ef384ee0056558e531a25f518bb18939097416ee3","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9e5705efe9ff5470f5ed030fed6aed610e06336c115fddcc92337dfa7e611407","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}},{"block":null,"heading":"Format","paragraphs":[{"citation":"235-10-50-6","para":"50-6","html":"
This Subtopic recognizes the need for flexibility in matters of format (including the location) of disclosure of accounting policies provided that the entity identifies and describes its significant accounting policies as an integral part of its financial statements in accordance with the provisions of this Subtopic. Disclosure is preferred in a separate summary of significant accounting policies preceding the notes to financial statements (notes), or as the initial note, under the same or a similar title.
","snippet":"This Subtopic recognizes the need for flexibility in matters of format (including the location) of disclosure of accounting policies provided that the entity identifies and describes its significant accounting policies a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1ec57f0d0d44caf992b7b8ff2c07f4fb24332ed5a361869fe4f17a31b199d705","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:958247e339161e20ed08ac6c3e3bda4ae0914f311b1e38d24699d1d1760ad141","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b0011c1ef6dfaf92817cfc1d0da7a6e080c520219978e1d98c885c604521475f","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b0011c1ef6dfaf92817cfc1d0da7a6e080c520219978e1d98c885c604521475f","downloaded_from":"2026-09-09T23:14:22.348Z","last_downloaded_at":"2026-09-09T23:14:22.348Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483426","source_sha256":"6f144914ebb2bcce017ac8fde071c863d62cc6461a5439f06e9d1592c0cc0d72"}}