# ASC 235-10-50: Notes to Financial Statements — Overall — 50 Disclosure Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/235/10/#50-disclosure) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-09T23:14:22.348Z to 2026-09-09T23:14:22.348Z Record version: sha256:b0011c1ef6dfaf92817cfc1d0da7a6e080c520219978e1d98c885c604521475f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 235-10-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/235/10/#50-disclosure) SEC content: no #### Accounting Policies Disclosure ##### [235-10-50-1](https://asc.understandingaccounting.org/asc/235/10/#235-10-50-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:22.348Z to 2026-09-09T23:14:22.348Z Record version: sha256:db2d4459749e54795415da0a6ce920eb0d9b7b539b6ddf34b061b4b99de35504 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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. #### Accounting Policies Disclosure in Interim Periods ##### [235-10-50-2](https://asc.understandingaccounting.org/asc/235/10/#235-10-50-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:22.348Z to 2026-09-09T23:14:22.348Z Record version: sha256:a2a13e5f07c88667e175f86e1891ad52863826e21e84cc646e3d8f6037a8c548 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The provisions of paragraph [235-10-50-1](https://asc.understandingaccounting.org/asc/235/10/#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. #### What to Disclose ##### [235-10-50-3](https://asc.understandingaccounting.org/asc/235/10/#235-10-50-3) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:22.348Z to 2026-09-09T23:14:22.348Z Record version: sha256:7251c0272ad6b63b0fe1590a25e062eed75aa6b1978648b2e9ec28562e85e6ff Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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. #### Examples of Disclosures ##### [235-10-50-4](https://asc.understandingaccounting.org/asc/235/10/#235-10-50-4) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:22.348Z to 2026-09-09T23:14:22.348Z Record version: sha256:ee1133a77690ee1abb3c3d2c8e96faaed2550d0871cdf5365e7df658e3712fa3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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](https://asc.understandingaccounting.org/glossary/r/#revenue "Inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing major or central operations.") from [contracts](https://asc.understandingaccounting.org/glossary/c/#contract "An agreement between two or more parties that creates enforceable rights and obligations.") with [customers](https://asc.understandingaccounting.org/glossary/c/#customer "A party that has contracted with an entity to obtain goods or services that are an output of the entity's ordinary activities in exchange for consideration.") 6. f Recognition of revenue from leasing operations. #### Avoid Duplicate Details of Disclosures ##### [235-10-50-5](https://asc.understandingaccounting.org/asc/235/10/#235-10-50-5) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:22.348Z to 2026-09-09T23:14:22.348Z Record version: sha256:4ea66ed74104a1a7ad83d02ef384ee0056558e531a25f518bb18939097416ee3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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. #### Format ##### [235-10-50-6](https://asc.understandingaccounting.org/asc/235/10/#235-10-50-6) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:22.348Z to 2026-09-09T23:14:22.348Z Record version: sha256:1ec57f0d0d44caf992b7b8ff2c07f4fb24332ed5a361869fe4f17a31b199d705 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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.