# ASC 705-10-05: Cost of Sales and Services — Overall — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/705/10/#05-overview-and-background)

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## ASC 705-10-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/705/10/#05-overview-and-background)

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##### [705-10-05-1](https://asc.understandingaccounting.org/asc/705/10/#705-10-05-1)

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The Cost of Sales and Services Topic includes the following Subtopics:

1.  a
    
    Overall
    
2.  b
    
    Accounting for Consideration Received from a Vendor.

##### [705-10-05-1A](https://asc.understandingaccounting.org/asc/705/10/#705-10-05-1A)

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The Overall Subtopic only provides links to guidance on accounting for the cost of sales and services in other applicable Subtopics because the asset liability model used in the Codification generally results in the inclusion of that guidance in other Topics. For example, because assets are sold or remeasured (or liabilities are incurred), the guidance related to the transactions is included in the applicable Derecognition and Subsequent Measurement Sections of Topic 330 on inventory and Topic 360 on plant, property, and equipment rather than in this Topic.

##### [705-10-05-2](https://asc.understandingaccounting.org/asc/705/10/#705-10-05-2)

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Included in Section 705-10-25 are links to certain other Subtopics containing guidance applicable to the recognition of cost of sales and services.