{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/470/958/#25-recognition","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":"470","topic_title":"Debt","subtopic":"470-958","subtopic_title":"Not-for-Profit Entities","section":{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"470-958-25-1","para":"25-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_37D3FDD5-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">A not-for-profit entity (NFP) may finance part of its activities from the proceeds of tax-exempt bonds or other obligations issued through state and local financing authorities. Because the NFP is responsible for the repayment of those obligations, that financing shall be recognized as a liability in its statement of financial position. </span></span></div></div>","snippet":"A not-for-profit entity (NFP) may finance part of its activities from the proceeds of tax-exempt bonds or other obligations issued through state and local financing authorities. Because the NFP is responsible for the rep…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ff84aec36c9abc907a3620fdc24070cfbedb7be1adb6fe6d898c2c0be40d1b23","downloaded_from":"2026-09-10T00:34:59.299Z","last_downloaded_at":"2026-09-10T00:34:59.299Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478694","source_sha256":"f9223b0ea30f2e543f5e8077afbcd12a05c244a89a3b1f4a341538307a2cf57c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d545c9c2f7b3dc7a078d7a82779dcaaf2148d4d1e52a405dbf1bbbb3f8ac387e","downloaded_from":"2026-09-10T00:34:59.299Z","last_downloaded_at":"2026-09-10T00:34:59.299Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478694","source_sha256":"f9223b0ea30f2e543f5e8077afbcd12a05c244a89a3b1f4a341538307a2cf57c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6247bbca6159865072a1e6922ab05c56054c49a2433fb98679f726b53d3d6d84","downloaded_from":"2026-09-10T00:34:59.299Z","last_downloaded_at":"2026-09-10T00:34:59.299Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478694","source_sha256":"f9223b0ea30f2e543f5e8077afbcd12a05c244a89a3b1f4a341538307a2cf57c"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6247bbca6159865072a1e6922ab05c56054c49a2433fb98679f726b53d3d6d84","downloaded_from":"2026-09-10T00:34:59.299Z","last_downloaded_at":"2026-09-10T00:34:59.299Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478694","source_sha256":"f9223b0ea30f2e543f5e8077afbcd12a05c244a89a3b1f4a341538307a2cf57c"}}