ASC

ASC 405-10

Overall

405 Liabilities

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Source downloaded: .Record version f484b92d2086. Effective date must be checked in the source.

In brief

IntroductoryRecognitionPresentationContingencies and guaranteesDebt and equity

ASC 405-10 is the Overall subtopic of the Liabilities Topic; it functions as a navigational "roadmap" rather than a source of substantive measurement rules. It lists the other Subtopics within Topic 405 (Extinguishments of Liabilities, Insurance-Related Assessments, Joint and Several Liability Arrangements, Supplier Finance Programs) and points to the Topics elsewhere in the Codification that directly address recognition of particular liabilities.

Key points (5)
  • Topic 405 comprises the Overall, Extinguishments of Liabilities, Insurance-Related Assessments, Obligations Resulting from Joint and Several Liability Arrangements, and Supplier Finance Programs Subtopics (405-10-05-1).
  • 405-10 itself identifies where liability guidance is located in the Codification rather than establishing recognition or measurement criteria (405-10-05-2).
  • Topics that directly discuss recognition of liabilities include Topic 410 (asset retirement and environmental obligations), Topic 420 (exit or disposal cost obligations), Topic 430 (deferred revenue and contract liabilities), and Topic 440 (commitments) (405-10-05-2).
  • Recognition guidance also resides in Topic 450 (contingencies), Topic 460 (guarantees), Topic 470 (debt), and Topic 480 (distinguishing liabilities from equity) (405-10-05-2).
  • Other Topics, including industry-specific Topics, may contain guidance for liabilities associated with those Topics (405-10-05-3).

For students. Use 405-10 as an index: when a liability question arises, it tells you which Topic (410–480) actually governs. The common mistake is trying to find substantive recognition or measurement rules here — 405-10 contains none.

liabilitiesrecognition of liabilitiescodification navigationextinguishment of liabilitiescontingenciesguaranteesdistinguishing liabilities from equitysupplier finance programs

Machine-generated study aid for ASC 405-10. Check the source paragraphs below.

405-10-00Status

Source downloaded: .Record version 6577d4dc0436. Effective date must be checked in the source.

405-10-00-1
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
405-10-05-1 Amended Accounting Standards Update No. 2022-04 09/29/2022
405-10-05-1 Amended Maintenance Update 2014-20 (PDF) 09/29/2014
405-10-05-2 Amended Accounting Standards Update No. 2023-04 08/03/2023
405-10-05-2 Amended Accounting Standards Update No. 2014-09 05/28/2014

405-10-05Overview and Background

Source downloaded: .Record version c987b2b9f551. Effective date must be checked in the source.

405-10-05-1
The Liabilities Topic includes the following Subtopics:
  1. a
    Overall
  2. b
    Extinguishments of Liabilities
  3. c
    Insurance-Related Assessments
  4. d
    Obligations Resulting from Joint and Several Liability Arrangements
  5. e
    Supplier Finance Programs.
405-10-05-2
This Subtopic identifies the locations in the Codification that provide guidance for liabilities. The following Topics directly discuss the recognition of liabilities:
  1. a
    Asset Retirement and Environmental Obligations, see Topic 410
  2. b
    Exit or Disposal Cost Obligations, see Topic 420
  3. c
    Deferred Revenue and Contract Liabilities, see Topic 430
  4. d
    Commitments, see Topic 440
  5. e
    Contingencies, see Topic 450
  6. f
    Guarantees, see Topic 460
  7. g
    Debt, see Topic 470
  8. h
    Distinguishing Liabilities from Equity, see Topic 480.
405-10-05-3
Other Topics, including industries, may contain guidance related to specific liabilities associated with those Topics.

405-10-S00StatusSEC

Source downloaded: .Record version fd902bdeb6a2. Effective date must be checked in the source.

405-10-S00-1
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
405-10-S99-1AmendedAccounting Standards Update No. 2025-0203/18/2025
405-10-S99-1AddedAccounting Standards Update No. 2023-0408/03/2023

405-10-S99SEC MaterialsSEC

Source downloaded: .Record version 3a1c5963298a. Effective date must be checked in the source.

SEC Staff Guidance

405-10-S99-1
The following is the text of SAB Topic 5.FF.
Removed by SAB 122.

Related subtopics