# ASC 505-944-05: Equity — Financial Services—Insurance — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/505/944/#05-overview-and-background)

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## ASC 505-944-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/505/944/#05-overview-and-background)

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##### [505-944-05-1](https://asc.understandingaccounting.org/asc/505/944/#505-944-05-1)

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This Subtopic provides guidance to insurance entities on disclosures about equity and related [statutory accounting practices](https://asc.understandingaccounting.org/glossary/s/#statutory-accounting-practices "Accounting principles required by statute, regulation, or rule, or permitted by specific approval, that an insurance entity is required to follow when submitting its financial statements to state insurance departments."). For a background discussion of statutory accounting practices, see Section 944-20-05.