{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/350/60/#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":"350","topic_title":"Intangibles—Goodwill and Other","subtopic":"350-60","subtopic_title":"Crypto Assets","section":{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"350-60-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div> <table class=\"asc-table\" id=\"table_wgw_3qf_nzb\"> <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/c/#contribution\" class=\"term\" title=\"An unconditional transfer of cash or other assets, as well as unconditional promises to give, to an entity or a reduction, settlement, or cancellation of its liabilities in a voluntary nonreciprocal transfer by another entity acting other than as an owner. Those characteristics distinguish contributions from:Exchange transactions, which are reciprocal transfers in which each party receives and sacrifices approximately commensurate valueInvestments by owners and distributions to owners, which are nonreciprocal transfers between an entity and its ownersOther nonreciprocal transfers, such as impositions of taxes or legal judgments, fines, and thefts, which are not voluntary transfers. In a contribution transaction, the resource provider often receives value indirectly by providing a societal benefit although that benefit is not considered to be of commensurate value. In an exchange transaction, the potential public benefits are secondary to the potential direct benefits to the resource provider. The term contribution revenue is used to apply to transactions that are part of the entity's ongoing major or central activities (revenues), or are peripheral or incidental to the entity (gains). See also Inherent Contribution and Conditional Contribution.\"><span>Contribution</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/c/#conditional-contribution\" class=\"term\" title=\"A contribution that contains a donor-imposed condition.\"><span>Conditional Contribution</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/c/#customer\" class=\"term\" title=\"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.\"><span>Customer</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/d/#donor-imposed-condition\" class=\"term\" title=\"A donor stipulation (donors include other types of contributors, including makers of certain grants) that represents a barrier that must be overcome before the recipient is entitled to the assets transferred or promised. Failure to overcome the barrier gives the contributor a right of return of the assets it has transferred or gives the promisor a right of release from its obligation to transfer its assets.\"><span>Donor-Imposed Condition</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/f/#fair-value\" class=\"term\" title=\"The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.\"><span>Fair Value</span></a> (2nd def.)</td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/i/#inherent-contribution\" class=\"term\" title=\"A contribution that results if an entity voluntarily transfers assets (or net assets) or performs services for another entity in exchange for either no assets or for assets of substantially lower value and unstated rights or privileges of a commensurate value are not involved.\"><span>Inherent Contribution</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/i/#intangible-asset-class\" class=\"term\" title=\"A group of intangible assets that are similar, either by their nature or by their use in the operations of an entity.\"><span>Intangible Asset Class</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/i/#intangible-assets\" class=\"term\" title=\"Assets (not including financial assets) that lack physical substance. (The term intangible assets is used to refer to intangible assets other than goodwill.)\"><span>Intangible Assets</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/m/#market-participants\" class=\"term\" title=\"Buyers and sellers in the principal (or most advantageous) market for the asset or liability that have all of the following characteristics: They are independent of each other, that is, they are not related parties, although the price in a related-party transaction may be used as an input to a fair value measurement if the reporting entity has evidence that the transaction was entered into at market terms They are knowledgeable, having a reasonable understanding about the asset or liability and the transaction using all available information, including information that might be obtained through due diligence efforts that are usual and customary They are able to enter into a transaction for the asset or liability They are willing to enter into a transaction for the asset or liability, that is, they are motivated but not forced or otherwise compelled to do so.\"><span>Market Participants</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/n/#not-for-profit-entity\" class=\"term\" title=\"An entity that possesses the following characteristics, in varying degrees, that distinguish it from a business entity: Contributions of significant amounts of resources from resource providers who do not expect commensurate or proportionate pecuniary return Operating purposes other than to provide goods or services at a profit Absence of ownership interests like those of business entities. Entities that clearly fall outside this definition include the following: All investor-owned entities Entities that provide dividends, lower costs, or other economic benefits directly and proportionately to their owners, members, or participants, such as mutual insurance entities, credit unions, farm and rural electric cooperatives, and employee benefit plans.\"><span>Not-for-Profit Entity</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/o/#orderly-transaction\" class=\"term\" title=\"A transaction that assumes exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not a forced transaction (for example, a forced liquidation or distress sale).\"><span>Orderly Transaction</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/p/#promise-to-give\" class=\"term\" title=\"A written or oral agreement to contribute cash or other assets to another entity. A promise carries rights and obligations—the recipient of a promise to give has a right to expect that the promised assets will be transferred in the future, and the maker has a social and moral obligation, and generally a legal obligation, to make the promised transfer. A promise to give may be either conditional or unconditional.\"><span>Promise to Give</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/r/#related-parties\" class=\"term\" title=\"Related parties include: Affiliates of the entity Entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825-10-15, to be accounted for by the equity method by the investing entity Trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management Principal owners of the entity and members of their immediate families Management of the entity and members of their immediate families Other parties with which the entity may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests Other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.\"><span>Related Parties</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/u/#unconditional-promise-to-give\" class=\"term\" title=\"A promise to give that depends only on passage of time or demand by the promisee for performance.\"><span>Unconditional Promise to Give</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/350/60/#350-60-05-1\" class=\"xref\">350-60-05-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/350/60/#350-60-05-2\" class=\"xref\">350-60-05-2</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/350/60/#350-60-15-1\" class=\"xref\">350-60-15-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/350/60/#350-60-15-2\" class=\"xref\">350-60-15-2</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/350/60/#350-60-35-1\" class=\"xref\">350-60-35-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/350/60/#350-60-45-1\" class=\"xref\">350-60-45-1 through 45-3</a></div> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/350/60/#350-60-50-1\" class=\"xref\">350-60-50-1 through 50-7</a></div> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/350/60/#350-60-65-1\" class=\"xref\">350-60-65-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-08/\" class=\"xref\">Accounting Standards Update No. 2023-08</a> </td> <td class=\"entry\">12/13/2023</td> </tr> </table> </div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nContribution | Added | Accounting Standards Update No. 2023-08 | 12/13/2023 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