{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/405/10/#05-overview-and-background","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":"405","topic_title":"Liabilities","subtopic":"405-10","subtopic_title":"Overall","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"405-10-05-1","para":"05-1","html":"
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.
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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.
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Other Topics, including industries, may contain guidance related to specific liabilities associated with those Topics.
","snippet":"Other Topics, including industries, may contain guidance related to specific liabilities associated with those Topics.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3040b6856654242847b4ef5a492d6b8cc6007b82bcbb54286670d35ae324975","downloaded_from":"2026-09-10T00:13:38.382Z","last_downloaded_at":"2026-09-10T00:13:38.382Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482703","source_sha256":"2b74ea4ead2f9af6bef45bae263ebaac73a21d20fc3be456ced24a755e8790da"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:19caeafdc165261a285c16b7f03aa004ea7e67bd94197a4faa12e1ec893743ce","downloaded_from":"2026-09-10T00:13:38.382Z","last_downloaded_at":"2026-09-10T00:13:38.382Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482703","source_sha256":"2b74ea4ead2f9af6bef45bae263ebaac73a21d20fc3be456ced24a755e8790da"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c987b2b9f551f7e97fc51ebee77f9197d58634cc3dc32eb71329bf2c0d8984a1","downloaded_from":"2026-09-10T00:13:38.382Z","last_downloaded_at":"2026-09-10T00:13:38.382Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482703","source_sha256":"2b74ea4ead2f9af6bef45bae263ebaac73a21d20fc3be456ced24a755e8790da"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c987b2b9f551f7e97fc51ebee77f9197d58634cc3dc32eb71329bf2c0d8984a1","downloaded_from":"2026-09-10T00:13:38.382Z","last_downloaded_at":"2026-09-10T00:13:38.382Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482703","source_sha256":"2b74ea4ead2f9af6bef45bae263ebaac73a21d20fc3be456ced24a755e8790da"}}