# ASC 605-40-05: Revenue Recognition — Gains and Losses — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/605/40/#05-overview-and-background)

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## ASC 605-40-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/605/40/#05-overview-and-background)

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##### [605-40-05-1](https://asc.understandingaccounting.org/asc/605/40/#605-40-05-1)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [605-40-05-2](https://asc.understandingaccounting.org/asc/605/40/#605-40-05-2)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [605-40-05-3](https://asc.understandingaccounting.org/asc/605/40/#605-40-05-3)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).