{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/405/958/#35-subsequent-measurement","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":"405-958","subtopic_title":"Not-for-Profit Entities","section":{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Liability for Promises to Give","paragraphs":[{"citation":"405-958-35-1","para":"35-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_3746A8BF-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">If the present value of the amounts to be paid is used to measure <a href=\"/glossary/f/#fair-value\" class=\"term\" title=\"The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.\"><span>fair value</span></a> of an <a href=\"/glossary/u/#unconditional-promise-to-give\" class=\"term\" title=\"A promise to give that depends only on passage of time or demand by the promisee for performance.\"><span>unconditional promise to give</span></a> at initial recognition, in conformity with paragraphs <div class=\"xref-range displayInline\"><a href=\"/asc/835/30/#835-30-25-10\" class=\"xref\">835-30-25-10 through 25-11</a></div>, the discount rate shall be determined at the time the unconditional promise to give is initially recognized and shall not be revised, unless the <a href=\"/glossary/p/#promise-to-give\" class=\"term\" title=\"A written or oral agreement to contribute cash or other assets to another entity. A promise carries rights and obligations—the recipient of a promise to give has a right to expect that the promised assets will be transferred in the future, and the maker has a social and moral obligation, and generally a legal obligation, to make the promised transfer. A promise to give may be either conditional or unconditional.\"><span>promise to give</span></a> is subsequently remeasured at fair value pursuant to the Fair Value Option Subsections of Subtopic <a altsource=\"GUID-949FE0F4-4A71-425B-8009-76B1AB716B1C.ditamap\" class=\"ditamap\">825-10</a>. </span></span> </div> </div>","snippet":"If the present value of the amounts to be paid is used to measure fair value of an unconditional promise to give at initial recognition, in conformity with paragraphs 835-30-25-10 through 25-11, the discount rate shall b…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3e3bfeebe6e94875fe1223e3868a6a4cba9aac662647be6f9fc6b68f07029787","downloaded_from":"2026-09-10T00:19:59.203Z","last_downloaded_at":"2026-09-10T00:19:59.203Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477315","source_sha256":"212aecba7cbdc2a5ed421de513504fb7ba9c3cec63d72a8c84abddf4ced60bac"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5763f5a32d121c4a17695cba46f0f4faaea8b1bed7ca450942eb92707a2cbefd","downloaded_from":"2026-09-10T00:19:59.203Z","last_downloaded_at":"2026-09-10T00:19:59.203Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477315","source_sha256":"212aecba7cbdc2a5ed421de513504fb7ba9c3cec63d72a8c84abddf4ced60bac"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:86b6c0f6453dd7ca644ab3634aca9d5fd1ec3baa931cf44ad5ff3c4cbb157811","downloaded_from":"2026-09-10T00:19:59.203Z","last_downloaded_at":"2026-09-10T00:19:59.203Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477315","source_sha256":"212aecba7cbdc2a5ed421de513504fb7ba9c3cec63d72a8c84abddf4ced60bac"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:86b6c0f6453dd7ca644ab3634aca9d5fd1ec3baa931cf44ad5ff3c4cbb157811","downloaded_from":"2026-09-10T00:19:59.203Z","last_downloaded_at":"2026-09-10T00:19:59.203Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477315","source_sha256":"212aecba7cbdc2a5ed421de513504fb7ba9c3cec63d72a8c84abddf4ced60bac"}}