{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/250/10/#00-status","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":"250","topic_title":"Accounting Changes and Error Corrections","subtopic":"250-10","subtopic_title":"Overall","section":{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"250-10-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div><div class=\"norm-text\"><table class=\"asc-table\" id=\"SL29645933-128552\"><tr><td class=\"entry\"><strong class=\"ph b\">Paragraph</strong></td><td class=\"entry\"><strong class=\"ph b\">Action</strong></td><td class=\"entry\"><strong class=\"ph b\">Accounting Standards Update</strong></td><td class=\"entry\"><strong class=\"ph b\">Date</strong></td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><a href=\"/glossary/d/#direct-effects-of-a-change-in-accounting-principle\" class=\"term\" title=\"Those recognized changes in assets or liabilities necessary to effect a change in accounting principle. An example of a direct effect is an adjustment to an inventory balance to effect a change in inventory valuation method. Related changes, such as an effect on deferred income tax assets or liabilities or an impairment adjustment resulting from applying the subsequent measurement guidance in Subtopic 330-10to the adjusted inventory balance, also are examples of direct effects of a change in accounting principle.\"><span>Direct Effects of a Change in Accounting Principle</span></a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2015-11/\" class=\"xref\">Accounting Standards Update No. 2015-11</a></td><td class=\"entry\">07/22/2015</td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-45-15\" class=\"xref\">250-10-45-15</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2025-11/\" class=\"xref\">Accounting Standards Update No. 2025-11</a></td><td class=\"entry\">12/08/2025</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-45-27\" class=\"xref\">250-10-45-27</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2020-10/\" class=\"xref\">Accounting Standards Update No. 2020-10</a></td><td class=\"entry\">10/29/2020</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-45-28\" class=\"xref\">250-10-45-28</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2020-10/\" class=\"xref\">Accounting Standards Update No. 2020-10</a></td><td class=\"entry\">10/29/2020</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-50-1\" class=\"xref\">250-10-50-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2025-11/\" class=\"xref\">Accounting Standards Update No. 2025-11</a></td><td class=\"entry\">12/08/2025</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-50-4\" class=\"xref\">250-10-50-4</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2025-11/\" class=\"xref\">Accounting Standards Update No. 2025-11</a></td><td class=\"entry\">12/08/2025</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-50-5\" class=\"xref\">250-10-50-5</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2012-04/\" class=\"xref\">Accounting Standards Update No. 2012-04</a></td><td class=\"entry\">10/01/2012</td></tr><tr><td class=\"entry\"><div class=\"xref-range displayInline\"><a href=\"/asc/250/10/#250-10-50-6\" class=\"xref\">250-10-50-6 through 50-7A</a></div></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2025-11/\" class=\"xref\">Accounting Standards Update No. 2025-11</a></td><td class=\"entry\">12/08/2025</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-50-6\" class=\"xref\">250-10-50-6</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2023-06/\" class=\"xref\">Accounting Standards Update No. 2023-06</a></td><td class=\"entry\">10/09/2023</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-50-6\" class=\"xref\">250-10-50-6</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a></td><td class=\"entry\">01/09/2015</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-50-7A\" class=\"xref\">250-10-50-7A</a></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2020-10/\" class=\"xref\">Accounting Standards Update No. 2020-10</a></td><td class=\"entry\">10/29/2020</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-50-9\" class=\"xref\">250-10-50-9</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2025-11/\" class=\"xref\">Accounting Standards Update No. 2025-11</a></td><td class=\"entry\">12/08/2025</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-50-10\" class=\"xref\">250-10-50-10</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/asc-pdf/GUID-EFA6D1D7-EED2-443D-BBD3-C6F2E960EBE3.pdf\" class=\"pdf-link\" target=\"_blank\" rel=\"noopener\">Maintenance Update 2014-20 (PDF)</a></td><td class=\"entry\">09/29/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/250/10/#250-10-50-12\" class=\"xref\">250-10-50-12</a></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2020-10/\" class=\"xref\">Accounting Standards Update No. 2020-10</a></td><td class=\"entry\">10/29/2020</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nDirect Effects of a Change in Accounting Principle | Amended | Accounting Standards Upda…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0ac6f6e98670a1a9dc5e07a1ff3d133362e9c04e8cc2befc5d589804b2068acc","downloaded_from":"2026-09-09T23:16:57.725Z","last_downloaded_at":"2026-09-09T23:16:57.725Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483425","source_sha256":"ab8652c2c7037e2f52089829d040d4da0a24cf7112d871a3a650278d429f1194"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac88da3554e91878ca247653f0f52d12de8215d6862e3f052e830627f395c18f","downloaded_from":"2026-09-09T23:16:57.725Z","last_downloaded_at":"2026-09-09T23:16:57.725Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483425","source_sha256":"ab8652c2c7037e2f52089829d040d4da0a24cf7112d871a3a650278d429f1194"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:53e2b787025b2e94367cc4963b2e39585770f149f70473b864fe975096618d94","downloaded_from":"2026-09-09T23:16:57.725Z","last_downloaded_at":"2026-09-09T23:16:57.725Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483425","source_sha256":"ab8652c2c7037e2f52089829d040d4da0a24cf7112d871a3a650278d429f1194"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:53e2b787025b2e94367cc4963b2e39585770f149f70473b864fe975096618d94","downloaded_from":"2026-09-09T23:16:57.725Z","last_downloaded_at":"2026-09-09T23:16:57.725Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483425","source_sha256":"ab8652c2c7037e2f52089829d040d4da0a24cf7112d871a3a650278d429f1194"}}