# ASC 605-10-05: Revenue Recognition — Overall — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

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## ASC 605-10-05: 05 Overview and Background

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##### [605-10-05-1](https://asc.understandingaccounting.org/asc/605/10/#605-10-05-1)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [605-10-05-2](https://asc.understandingaccounting.org/asc/605/10/#605-10-05-2)

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The following two Subtopics within this Topic provide guidance on provision for losses:

1.  a
    
    605-20, Revenue Recognition—Provision for Losses on Separately Priced Extended Warranty and Product Maintenance Contracts
    
2.  b
    
    605-35, Revenue Recognition—Provision for Losses on Construction-Type and Production-Type Contracts.

##### [605-10-05-3](https://asc.understandingaccounting.org/asc/605/10/#605-10-05-3)

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There is no [revenue](https://asc.understandingaccounting.org/glossary/r/#revenue "Inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing major or central operations.") recognition guidance located in this Topic. There is revenue guidance in the following industry Subtopics for [contracts](https://asc.understandingaccounting.org/glossary/c/#contract "An agreement between two or more parties that creates enforceable rights and obligations.") that are not with [customers](https://asc.understandingaccounting.org/glossary/c/#customer "A party that has contracted with an entity to obtain goods or services that are an output of the entity's ordinary activities in exchange for consideration.") within the scope of Topic 606 on revenue from contracts with customers. Revenue guidance is included in the following industry-specific Subtopics:

1.  a
    
    905-605, Agriculture—Revenue Recognition, for guidance on cooperatives
    
2.  b
    
    944-605, Financial Services—Insurance—Revenue Recognition, for guidance on insurance contracts
    
3.  c
    
    954-605, Health Care Entities—Revenue Recognition, for guidance on contributions from related fundraising entities and charity care
    
4.  d
    
    958-605, Not-for-Profit Entities—Revenue Recognition, for guidance on contributions
    
5.  e
    
    980-605, Regulated Operations—Revenue Recognition, for guidance on alternative revenue programs.

##### [605-10-05-4](https://asc.understandingaccounting.org/asc/605/10/#605-10-05-4)

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This Topic also provides guidance and references for the recognition and measurement of a provision for losses for certain arrangements (that is, an onerous contract). The guidance on recognizing a provision for loss is located in the following Subtopics:

1.  a
    
    605-20, Revenue Recognition—Provision for Losses on Separately Priced Extended Warranty and Product Maintenance Contracts
    
2.  b
    
    605-35, Revenue Recognition—Provision for Losses on Construction-Type and Production-Type Contracts
    
3.  c
    
    985-605, Software—Revenue Recognition, specifically paragraph [985-605-25-7](https://asc.understandingaccounting.org/asc/605/985/#605-985-25-7)
    
4.  d
    
    944-605, Financial Services—Insurance—Revenue Recognition, specifically paragraph [944-605-35-7](https://asc.understandingaccounting.org/asc/605/944/#605-944-35-7)
    
5.  e
    
    912-20, Contractors—Federal Government—Contract Costs, specifically paragraph [912-20-45-5](https://asc.understandingaccounting.org/asc/912/20/#912-20-45-5)
    
6.  f
    
    954-440, Health Care Entities—Commitments, specifically on continuing care retirement communities in paragraphs
    
    [954-440-35-1 through 35-3](https://asc.understandingaccounting.org/asc/440/954/#440-954-35-1)
    
7.  g
    
    954-450, Health Care Entities—Contingencies, specifically on prepaid health care services in paragraphs
    
    [954-450-30-3 through 30-4](https://asc.understandingaccounting.org/asc/450/954/#450-954-30-3)
    
8.  h
    
    980-350, Regulated Operations—Intangibles—Goodwill and Other, specifically on long-term power sales contracts in paragraph [980-350-35-3](https://asc.understandingaccounting.org/asc/350/980/#350-980-35-3).