# ASC 605-50-05: Revenue Recognition — Customer Payments and Incentives — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/605/50/#05-overview-and-background)

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.

Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure.

Source downloaded (UTC): 2026-09-10T00:45:07.107Z to 2026-09-10T00:45:07.107Z

Record version: sha256:ea73a67dcd61d48d866422efac568d1fa29e6c7bbbb75b295b562f40650529ce

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 605-50-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/605/50/#05-overview-and-background)

SEC content: no

##### [605-50-05-1](https://asc.understandingaccounting.org/asc/605/50/#605-50-05-1)

Pending content: no

Source downloaded (UTC): 2026-09-10T00:45:07.107Z to 2026-09-10T00:45:07.107Z

Record version: sha256:d4c88dc5e35a473acec88aad904c22ec9e0c8b439eec0e60ab8ba173c1928239

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [605-50-05-2](https://asc.understandingaccounting.org/asc/605/50/#605-50-05-2)

Pending content: no

Source downloaded (UTC): 2026-09-10T00:45:07.107Z to 2026-09-10T00:45:07.107Z

Record version: sha256:dd2b0bc0c1ac3abbe67dc15afadd35359df5a4a49b5f5f786c39fa5b859f45cd

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).