# ASC 350-932-05: Intangibles—Goodwill and Other — Extractive Activities—Oil and Gas — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/350/932/#05-overview-and-background)

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): 2026-09-10T00:04:39.480Z to 2026-09-10T00:04:39.480Z

Record version: sha256:66a4e65d5e388e2baa87adcbf38694b2cda119e9dbcf742b90f144ebe1bbdfa3

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 350-932-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/350/932/#05-overview-and-background)

SEC content: no

##### [350-932-05-1](https://asc.understandingaccounting.org/asc/350/932/#350-932-05-1)

Pending content: no

Source downloaded (UTC): 2026-09-10T00:04:39.480Z to 2026-09-10T00:04:39.480Z

Record version: sha256:edcd5e5a906420607109ebef6f2fe55ba475be9aa8609f82df3a1b46f0811177

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


This Subtopic addresses an exception for the oil and gas industry to the disclosure rules for intangible assets.