# ASC 405-924-05: Liabilities — Entertainment—Casinos — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

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## ASC 405-924-05: 05 Overview and Background

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##### [405-924-05-1](https://asc.understandingaccounting.org/asc/405/924/#405-924-05-1)

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This Subtopic addresses the following:

1.  a
    
    The accounting for gaming [chips](https://asc.understandingaccounting.org/glossary/c/#chips "Money substitutes, in various denominations, issued by a gaming entity and used for wagering.") held in inventory by casino entities and for gaming chips distributed to casino customers.
    
2.  b
    
    The accounting for jackpot liabilities.