{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/340/980/#40-derecognition","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":"340","topic_title":"Other Assets and Deferred Costs","subtopic":"340-980","subtopic_title":"Regulated Operations","section":{"number":"40","label":"40 Derecognition","anchor":"40-derecognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"340-980-40-1","para":"40-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_44DBF23A-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">If at any time an entity's <a href=\"/glossary/i/#incurred-cost\" class=\"term\" title=\"A cost arising from cash paid out or obligation to pay for an acquired asset or service, a loss from any cause that has been sustained and has been or must be paid for.\"><span>incurred cost</span></a> no longer meets the criteria for the capitalization of an incurred cost (see paragraph <a href=\"/asc/340/980/#340-980-25-1\" class=\"xref\">980-340-25-1</a>), that cost shall be charged to earnings. </span></span></div></div>","snippet":"If at any time an entity's incurred cost no longer meets the criteria for the capitalization of an incurred cost (see paragraph 980-340-25-1), that cost shall be charged to earnings.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2ac54035078b1958a0a955d39fc8f8f736ac1c16bc4882c81571c717ec15a592","downloaded_from":"2026-09-09T23:59:56.623Z","last_downloaded_at":"2026-09-09T23:59:56.623Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478430","source_sha256":"41aa9296ebbfaff18a6bd8ba7ed2d21048916e91ec01113bf8c21e80ebd82530"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8ca8ddbe4627117efb29f659e5d8c7c8ef18439bbfb34d4217ad1919a0510b9","downloaded_from":"2026-09-09T23:59:56.623Z","last_downloaded_at":"2026-09-09T23:59:56.623Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478430","source_sha256":"41aa9296ebbfaff18a6bd8ba7ed2d21048916e91ec01113bf8c21e80ebd82530"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8899c196b6a66ca75baf1fc6761fa01ebb376db339f8994dfbf956c17bb34249","downloaded_from":"2026-09-09T23:59:56.623Z","last_downloaded_at":"2026-09-09T23:59:56.623Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478430","source_sha256":"41aa9296ebbfaff18a6bd8ba7ed2d21048916e91ec01113bf8c21e80ebd82530"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8899c196b6a66ca75baf1fc6761fa01ebb376db339f8994dfbf956c17bb34249","downloaded_from":"2026-09-09T23:59:56.623Z","last_downloaded_at":"2026-09-09T23:59:56.623Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478430","source_sha256":"41aa9296ebbfaff18a6bd8ba7ed2d21048916e91ec01113bf8c21e80ebd82530"}}