{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/350/950/#25-recognition","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":"350-950","subtopic_title":"Financial Services—Title Plant","section":{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Title Plant","paragraphs":[{"citation":"350-950-25-1","para":"25-1","html":"
Costs incurred to construct a title plant shall be capitalized. To qualify for capitalization, costs need to be directly related to, and properly identified with, the activities necessary to construct the title plant.
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A purchased title plant, including a purchased undivided interest in a title plant, shall be recorded at the date of acquisition. Costs to construct a backplant need to be identifiable to qualify for capitalization. Costs incurred to maintain a title plant and to do title searches shall be expensed as incurred.
","snippet":"A purchased title plant, including a purchased undivided interest in a title plant, shall be recorded at the date of acquisition. Costs to construct a backplant need to be identifiable to qualify for capitalization. Cost…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9861dc6810885cb7416db7893609a6a32787eebd4d9d50bcc798e1dcf8971382","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:551d62747f03df111191a1c5013ad948bd8f219f958fe5a787023bf4996c5e67","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}},{"block":null,"heading":"Storage and Retrieval","paragraphs":[{"citation":"350-950-25-3","para":"25-3","html":"
The following costs incurred after a title plant is operational shall not be capitalized as title plant:
  1. a
    Costs to convert the information from one storage and retrieval system to another
  2. b
    Costs to modify or modernize the storage and retrieval system.
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Those costs, however, may be capitalized separately.
","snippet":"Those costs, however, may be capitalized separately.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a5e9c7ba6b2904467e4bf156f89409c0b518733537a658d2366714bc9ffa125","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0af3816d566168596efc000b8caf304ef41d77560dd52c7cc817c116f24acd24","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:26d6714aed38ed2553925cbb4d6b9c9eac273d7ccd6d99bbfdf546ef493317c1","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:26d6714aed38ed2553925cbb4d6b9c9eac273d7ccd6d99bbfdf546ef493317c1","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}}