# ASC 605-980-50: Revenue Recognition — Regulated Operations — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/605/980/#50-disclosure)

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## ASC 605-980-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/605/980/#50-disclosure)

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#### Refunds for Previously Recognized Revenue

##### [605-980-50-1](https://asc.understandingaccounting.org/asc/605/980/#605-980-50-1)

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For refunds that are recognized in a period other than the period in which the related revenue was recognized and that have a material effect on net income, the entity shall disclose the effect on net income and indicate the years in which the related revenue was recognized. Such effect may be disclosed by including it, net of related income taxes, as a line item in the income statement.