{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/405/40/#50-disclosure","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":"405-40","subtopic_title":"Obligations Resulting from Joint and Several Liability Arrangements","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"405-40-50-1","para":"50-1","html":"
An entity shall disclose the following information about each obligation, or each group of similar obligations, resulting from joint and several liability arrangements included in the scope of this Subtopic:
  1. a
    The nature of the arrangement, including:
    1. 1
      How the liability arose
    2. 2
      The relationship with other co-obligors
    3. 3
      The terms and conditions of the arrangement.
  2. b
    The total outstanding amount under the arrangement, which shall not be reduced by the effect of any amounts that may be recoverable from other entities
  3. c
    The carrying amount, if any, of an entity's liability and the carrying amount of a receivable recognized, if any
  4. d
    The nature of any recourse provisions that would enable recovery from other entities of the amounts paid, including any limitations on the amounts that might be recovered
  5. e
    In the period the liability is initially recognized and measured or in a period the measurement changes significantly:
    1. 1
      The corresponding entry
    2. 2
      Where the entry was recorded in the financial statements.
","snippet":"An entity shall disclose the following information about each obligation, or each group of similar obligations, resulting from joint and several liability arrangements included in the scope of this Subtopic:\n(a) The natu…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d870a44c7c86c7fe185448d46c678b439788e8060a7c36f1e8a5fe661b00fb2a","downloaded_from":"2026-09-10T00:15:09.160Z","last_downloaded_at":"2026-09-10T00:15:09.160Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477092","source_sha256":"07e332100b6bab194e601cf510b1fcebe4f18d2f24d0c0b095ae3c4398bed8fb"}},{"citation":"405-40-50-2","para":"50-2","html":"
The disclosures required by this Section do not affect the related-party disclosure requirements in Topic 850. The disclosure requirements in this Section are incremental to those requirements.
","snippet":"The disclosures required by this Section do not affect the related-party disclosure requirements in Topic 850. The disclosure requirements in this Section are incremental to those requirements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cb130c6039680222634e3893a4c4df7df5fd42f05bd69b7caa07d90c03303f3e","downloaded_from":"2026-09-10T00:15:09.160Z","last_downloaded_at":"2026-09-10T00:15:09.160Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477092","source_sha256":"07e332100b6bab194e601cf510b1fcebe4f18d2f24d0c0b095ae3c4398bed8fb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:36aaabd497e26fc03c963805748c312d976f82345b20c6a533eb935aca3c1209","downloaded_from":"2026-09-10T00:15:09.160Z","last_downloaded_at":"2026-09-10T00:15:09.160Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477092","source_sha256":"07e332100b6bab194e601cf510b1fcebe4f18d2f24d0c0b095ae3c4398bed8fb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:65abfe92278c79200cd16fd66a47b221cc51684ed3ae231eef41eaf6d65ae8bf","downloaded_from":"2026-09-10T00:15:09.160Z","last_downloaded_at":"2026-09-10T00:15:09.160Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477092","source_sha256":"07e332100b6bab194e601cf510b1fcebe4f18d2f24d0c0b095ae3c4398bed8fb"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:65abfe92278c79200cd16fd66a47b221cc51684ed3ae231eef41eaf6d65ae8bf","downloaded_from":"2026-09-10T00:15:09.160Z","last_downloaded_at":"2026-09-10T00:15:09.160Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477092","source_sha256":"07e332100b6bab194e601cf510b1fcebe4f18d2f24d0c0b095ae3c4398bed8fb"}}