# ASC 605-35-05: Revenue Recognition — Construction-Type and Production-Type Contracts — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/605/35/#05-overview-and-background)

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## ASC 605-35-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/605/35/#05-overview-and-background)

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##### [605-35-05-1](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-1)

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This Subtopic provides guidance on the accounting for a provision for losses on a [contract](https://asc.understandingaccounting.org/glossary/c/#contract "An agreement between two or more parties that creates enforceable rights and obligations.") for which specifications are provided by the [customer](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.") for the construction of facilities or the production of goods or for the provision of related services.

##### [605-35-05-2](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-2)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [605-35-05-3](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-3)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [605-35-05-4](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-4)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [605-35-05-5](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-5)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [605-35-05-6](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-6)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [605-35-05-7](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-7)

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

##### [605-35-05-8](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-8)

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

##### [605-35-05-9](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-9)

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

##### [605-35-05-10](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-10)

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

##### [605-35-05-11](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-11)

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

##### [605-35-05-12](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-12)

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

##### [605-35-05-13](https://asc.understandingaccounting.org/asc/605/35/#605-35-05-13)

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