# ASC 275-10-60: Risks and Uncertainties — Overall — 60 Relationships

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/275/10/#60-relationships)

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## ASC 275-10-60: 60 Relationships

[Read section](https://asc.understandingaccounting.org/asc/275/10/#60-relationships)

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##### [275-10-60-1](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-1)

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[Paragraph superseded by Maintenance Update 2018-02](https://asc.understandingaccounting.org/updates/maintenance-updates-2018/).

#### Interim Reporting

##### [275-10-60-2](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-2)

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See paragraph [270-10-50-6](https://asc.understandingaccounting.org/asc/270/10/#270-10-50-6) for guidance on disclosure of contingencies in summarized interim financial information of publicly traded entities.

Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:

[270-10-65-1](https://asc.understandingaccounting.org/asc/270/10/#270-10-65-1)See paragraph [270-10-50-69](https://asc.understandingaccounting.org/asc/270/10/#270-10-50-69) for guidance on disclosure of contingencies in interim financial statements and notes in accordance with generally accepted accounting principles.

#### Inventory

##### [275-10-60-3](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-3)

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See Example 1 (paragraph [330-10-55-8](https://asc.understandingaccounting.org/asc/330/10/#330-10-55-8)) for an illustration of the kinds of disclosures required for risks and uncertainties related to inventory.

#### Property, Plant, and Equipment

##### [275-10-60-3A](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-3A)

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See Example 12 (paragraphs

[360-10-55-50 through 55-54](https://asc.understandingaccounting.org/asc/360/10/#360-10-55-50)

) for an illustration of the kinds of disclosures required for risks and uncertainties related to specialized manufacturing equipment.

#### Asset Retirement and Environmental Obligations

##### [275-10-60-4](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-4)

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See Example 1 (paragraph [410-30-55-7](https://asc.understandingaccounting.org/asc/410/30/#410-30-55-7)) for an illustration of the kinds of disclosures required for risks and uncertainties related to environmental remediation liabilities.

#### Contingencies

##### [275-10-60-5](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-5)

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See Example 3 (paragraphs [450-20-55-36](https://asc.understandingaccounting.org/asc/450/20/#450-20-55-36)) for an illustration of the kinds of disclosures required for risks and uncertainties related to loss contingencies.

#### Guarantees

##### [275-10-60-6](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-6)

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See Example 1 (paragraph [460-10-55-25](https://asc.understandingaccounting.org/asc/460/10/#460-10-55-25)) for an illustration of the kinds of disclosures required for risks and uncertainties related to guarantees of debt.

#### Revenue Recognition

##### [275-10-60-7](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-7)

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See paragraphs

[606-10-50-1 through 50-23](https://asc.understandingaccounting.org/asc/606/10/#606-10-50-1)

for disclosures 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.").

#### Income Taxes

##### [275-10-60-8](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-8)

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See Example 31 (paragraph [740-10-55-218](https://asc.understandingaccounting.org/asc/740/10/#740-10-55-218)) for an illustration of the kinds of disclosures required for risks and uncertainties related to income taxes.

##### [275-10-60-9](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-9)

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[Paragraph superseded by Accounting Standards Update No. 2012-04](https://asc.understandingaccounting.org/updates/asu-2012-04/).

#### Not-for-Profit Entities

##### [275-10-60-10](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-10)

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See Example 12 (paragraph [958-605-55-69](https://asc.understandingaccounting.org/asc/605/958/#605-958-55-69)) for an illustration of the kinds of disclosures required for risks and uncertainties related to contributions.

#### Software

##### [275-10-60-11](https://asc.understandingaccounting.org/asc/275/10/#275-10-60-11)

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See Example 1 (paragraph [985-20-55-23](https://asc.understandingaccounting.org/asc/985/20/#985-20-55-23)) for an illustration of the kinds of disclosures for risks and uncertainties related to capitalized software costs.