# ASC 705-10: Cost of Sales and Services — Overall Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/705/10/) 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): 2026-09-10T00:55:38.735Z to 2026-09-10T00:55:50.312Z Record version: sha256:59db9b56b509f263d5f0447a6f4fed5da06c8a44dec99403622b50d692e68c92 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-10: Cost of Sales and Services — Overall ### Machine-generated study aids ```json { "summary": "ASC 705-10 is a \"pointer\" subtopic: it contains almost no substantive rules of its own and instead links to the Topics where cost of sales and services guidance actually resides. This structure follows from the Codification's asset liability model, under which costs are recognized as assets are sold or remeasured (or liabilities incurred), so the guidance sits in Topics such as 330 (inventory), 360 (PP&E), 606/340-40 (customer contracts), and 718 (share-based payment).", "key_points": [ "Topic 705 comprises two subtopics — Overall (705-10) and Accounting for Consideration Received from a Vendor (705-20) (705-10-05-1).", "705-10 provides only links to other Subtopics because the asset liability model places cost-of-sales guidance in the Derecognition and Subsequent Measurement Sections of the related asset Topics, e.g., Topic 330 and Topic 360 (705-10-05-1A; 705-10-25-1).", "Inventory-driven cost of sales adjustments are governed by 330-10-35-1A through 35-11 (subsequent measurement) and 330-10-30-1 through 30-13 (cost basis and inventory pricing methods) (705-10-25-2; 705-10-25-3).", "Sales with a right of return follow Topic 606, specifically 606-10-32-10 and 606-10-55-22 through 55-29 (705-10-25-4).", "Incremental costs of obtaining a contract with a customer and fulfillment costs not within another Topic's scope are accounted for under Subtopic 340-40 (705-10-25-4A).", "Other cross-references: 360-10-35-38 through 35-40 (costs to sell held-for-sale long-lived assets), 270-10-45-4 through 45-6 (interim reporting), 605-20-25-6 (loss on separately priced extended warranty and product maintenance contracts), 718-10-25 (share-based payment), 985-330 (software duplication and packaging), 350-40 (internal-use software sold) (705-10-25-5 through 25-15).", "All of Section 705-10-45 and several Section 25 paragraphs were superseded by ASU 2014-09, so legacy cost-of-sales presentation guidance now flows through Topic 606 and Subtopic 340-40." ], "categories": [ "Recognition", "Inventory and PP&E", "Revenue", "Financial statement presentation" ], "audience_level": "introductory", "student_note": "The point here is structural, not substantive: there is no freestanding \"cost of sales\" standard in U.S. GAAP, so you must locate the rule in the asset or contract Topic (330, 360, 606, 340-40, 718). A common misunderstanding is treating ASC 705-10 as authority for measuring cost of goods sold; the only real substance in Topic 705 is in 705-20 on vendor consideration.", "related_topics": [ "705-20", "330-10", "360-10", "340-40", "606-10", "270-10" ], "key_concepts": [ "cost of sales and services", "asset liability model", "cross-reference subtopic", "inventory pricing methods", "right of return", "costs to obtain and fulfill a contract", "costs to sell long-lived assets", "interim cost recognition" ] } ``` Source downloaded (UTC): 2026-09-10T00:55:38.735Z to 2026-09-10T00:55:38.735Z Record version: sha256:fea75cf4bdb4ca721ff069da66bc71c251b9992b12ebfc86023bd72401e0bcf9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-10-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/705/10/#00-status) SEC content: no ##### [705-10-00-1](https://asc.understandingaccounting.org/asc/705/10/#705-10-00-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:38.735Z to 2026-09-10T00:55:38.735Z Record version: sha256:b991ff960953b0229a2cf6b597e29f889f6ad7b53cf5b3a2c90b421af453700e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
ContractAddedAccounting Standards Update No. 2014-0905/28/2014
CustomerAddedAccounting Standards Update No. 2014-0905/28/2014
RevenueAddedAccounting Standards Update No. 2014-0905/28/2014
705-10-05-1AmendedAccounting Standards Update No. 2014-0905/28/2014
705-10-05-1AAddedAccounting Standards Update No. 2014-0905/28/2014
705-10-05-2AmendedAccounting Standards Update No. 2014-0905/28/2014
705-10-25-2AmendedAccounting Standards Update No. 2015-1107/22/2015
705-10-25-4AmendedAccounting Standards Update No. 2014-0905/28/2014
705-10-25-4AAddedAccounting Standards Update No. 2014-0905/28/2014
705-10-25-6SupersededAccounting Standards Update No. 2014-0905/28/2014
705-10-25-8AmendedAccounting Standards Update No. 2014-0905/28/2014
705-10-25-9AmendedAccounting Standards Update No. 2014-0905/28/2014
705-10-25-10 through 25-12
SupersededAccounting Standards Update No. 2014-0905/28/2014
705-10-45-1 through 45-5
SupersededAccounting Standards Update No. 2014-0905/28/2014
Source downloaded (UTC): 2026-09-10T00:55:41.102Z to 2026-09-10T00:55:41.102Z Record version: sha256:cb1d915212b6c73730896b8d6509259124a6d9026b9aabcec87dfe8a4935ffb7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-10-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/705/10/#05-overview-and-background) SEC content: no ##### [705-10-05-1](https://asc.understandingaccounting.org/asc/705/10/#705-10-05-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:41.102Z to 2026-09-10T00:55:41.102Z Record version: sha256:be5a226bd6f4ce838e851924bb5d4dbab4e1b067c3b42fe9edb0e6436c75d18e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:41.102Z to 2026-09-10T00:55:41.102Z Record version: sha256:df26c8e5689ccc3967fca43f8a4c518d1619b722759833b965b89c0cdb7ca9db Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:41.102Z to 2026-09-10T00:55:41.102Z Record version: sha256:6dbb3e8e9d0199f7889cb78b19d468090276cf1fc895def28e2746da4df2839e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Included in Section 705-10-25 are links to certain other Subtopics containing guidance applicable to the recognition of cost of sales and services. Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:d4704ac31953841e86fdf2727f1229dd484e9ae411c2c6552aebf68c325ecb6d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-10-25: 25 Recognition [Read section](https://asc.understandingaccounting.org/asc/705/10/#25-recognition) SEC content: no ##### [705-10-25-1](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:bcbaf4c3132d01f500d73173d08571e876a507cacdffcce2d9d241bdc94eeb71 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Section consists solely of links to other Subtopics because the asset liability model used in the Codification requires that applicable guidance be included in other Topics. In addition, the following may not represent a complete list of other Topics containing cost of sales and services guidance. #### Inventory ##### [705-10-25-2](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:9ed7775643b39dd317a6a4bfbf34ebac6a2ba83590436994b2df0f2bdcabdbe4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See paragraphs [330-10-35-1A through 35-11](https://asc.understandingaccounting.org/asc/330/10/#330-10-35-1A) for adjustments affecting cost of sales and services resulting from the subsequent measurement of inventory. ##### [705-10-25-3](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:a17a015f82e8fa78581a2519a477e72a5bb4c94c1bfec523a6b59243439026ab Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See paragraphs [330-10-30-1 through 30-13](https://asc.understandingaccounting.org/asc/330/10/#330-10-30-1) for adjustments affecting cost of sales and services resulting from establishing the cost basis and the use of inventory pricing methods. ##### [705-10-25-4](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-4) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:007bc056dff0159abb5b2161a651ee81aef5cd890a0ce64d088594cac1b607d7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See Topic 606 on [revenue](https://asc.understandingaccounting.org/glossary/r/#revenue "Inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing major or central operations.") from [contracts](https://asc.understandingaccounting.org/glossary/c/#contract "An agreement between two or more parties that creates enforceable rights and obligations.") with [customers](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."), specifically paragraph [606-10-32-10](https://asc.understandingaccounting.org/asc/606/10/#606-10-32-10) and paragraphs [606-10-55-22 through 55-29](https://asc.understandingaccounting.org/asc/606/10/#606-10-55-22) for the accounting for a sale with a right of return. #### Other Assets and Deferred Costs—Contracts with Customers ##### [705-10-25-4A](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-4A) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:e10d2b21173da835eac38f7abc471c32e7b40ab91e38490f1e8ca0c2e91c69bc Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See Subtopic 340-40 for guidance on the following costs related to a [contract](https://asc.understandingaccounting.org/glossary/c/#contract "An agreement between two or more parties that creates enforceable rights and obligations.") with a [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.") within the scope of Topic 606 on revenue from contracts with customers: 1. a Incremental costs of obtaining a contract with a customer 2. b Costs incurred in fulfilling a contract with a customer that are not within the scope of another Topic. #### Property, Plant, and Equipment ##### [705-10-25-5](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-5) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:d30e0328a332a1c782f719d025335a51d21e1c1a284810a24ff3dd9c88e18d3d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See paragraphs [360-10-35-38 through 35-40](https://asc.understandingaccounting.org/asc/360/10/#360-10-35-38) for a discussion of the costs to sell long-lived assets classified as held for sale for purposes of measuring the expected disposal loss. ##### [705-10-25-6](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-6) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:cdbfd47a951e22df9e3ae8d54ec5bd462a6f0e69b9b47e628e6be1e530d88c57 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/). #### Interim Financial Reporting ##### [705-10-25-7](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-7) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:7940310d5a86986ffc81cd0d34127d4b3fc9c9cf89ff7fcdd3450c7488c573e0 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See paragraphs [270-10-45-4 through 45-6](https://asc.understandingaccounting.org/asc/270/10/#270-10-45-4) for a discussion of recognition principles used for cost of sales and services used in reporting on an interim basis. #### Extended Warranty and Product Maintenance Contracts ##### [705-10-25-8](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-8) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:cef00b02eac7fa667da38828c40c9dd16b0d0fb626abe002c13c98377b3d96ce Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See paragraph [605-20-25-6](https://asc.understandingaccounting.org/asc/605/20/#605-20-25-6) for guidance on recognizing a loss on separately priced extended warranty and product maintenance contracts. #### Consideration Received from a Vendor ##### [705-10-25-9](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-9) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:6900eef9d06c7cdc16c7d7c352c24e9bb60632bbd6897a03514e95f1d5c4a54a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See Subtopic 705-20 for a discussion of consideration received from a vendor by a customer. ##### [705-10-25-10](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-10) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:e302e0bf9e045322e4e4f79d85f6194864a76e49508d437632ecfd3208b099a8 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/). ##### [705-10-25-11](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-11) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:22c51bacf606bf8a148684498d743b76761a5ef2e11c19f75e24494b0d253191 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/). ##### [705-10-25-12](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-12) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:6ddfef5c9739ec5a6b42c5e292aaf01733adc873a1426d018e9b63bfc68d4968 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/). #### Costs Resulting from Share-Based Payment Transactions ##### [705-10-25-13](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-13) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:5ab2abbf56d251d3894e7b4fee726f13cdd6206eb32eb71e7ec0cdeb666ac712 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See Section 718-10-25 for a discussion of recognition principles for costs incurred under share-based payment transactions. #### Costs of Computer Software Sold ##### [705-10-25-14](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-14) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:cf65e5a35e3210f5a82ee8244b2c8d834d4fa9447a0e979c4875ef0c8949b66b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For guidance on costs incurred for duplicating the computer software, documentation, and training materials from product masters and for physically packaging the product for distribution, see Subtopic 985-330. ##### [705-10-25-15](https://asc.understandingaccounting.org/asc/705/10/#705-10-25-15) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:47.878Z to 2026-09-10T00:55:47.878Z Record version: sha256:82f35d874de95fae3c82152b6489e000fda37619f65d8ab7ecc4f7bdcb3c99d7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See Subtopic 350-40 for a discussion of the cost of internal-use computer software sold. Source downloaded (UTC): 2026-09-10T00:55:50.312Z to 2026-09-10T00:55:50.312Z Record version: sha256:86b4f2b1a9e612e59e434cb4185b580ddcfcb022e7170417ff7935a22b85614d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-10-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/705/10/#45-other-presentation-matters) SEC content: no ##### [705-10-45-1](https://asc.understandingaccounting.org/asc/705/10/#705-10-45-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:50.312Z to 2026-09-10T00:55:50.312Z Record version: sha256:19b9c97b9c21ccda54c5b91d86972488e7b47409539e3be8011050a1b0010472 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/). ##### [705-10-45-2](https://asc.understandingaccounting.org/asc/705/10/#705-10-45-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:50.312Z to 2026-09-10T00:55:50.312Z Record version: sha256:fe0461b1d7f25cb34325d1f6204c7d8d227687bc6c7d77594518c1b07621925c 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/). ##### [705-10-45-3](https://asc.understandingaccounting.org/asc/705/10/#705-10-45-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:50.312Z to 2026-09-10T00:55:50.312Z Record version: sha256:6d0168e4c7b79ee74282e8cb19e8f7f3617b68737d06cfa66f28e93e3678f2f9 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/). ##### [705-10-45-4](https://asc.understandingaccounting.org/asc/705/10/#705-10-45-4) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:50.312Z to 2026-09-10T00:55:50.312Z Record version: sha256:fef4350d3284d5525bc7e01cd80f485ccad72ce445679bc3edef59396a7ba16e 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/). ##### [705-10-45-5](https://asc.understandingaccounting.org/asc/705/10/#705-10-45-5) Pending content: no Source downloaded (UTC): 2026-09-10T00:55:50.312Z to 2026-09-10T00:55:50.312Z Record version: sha256:ae8e80beab04f02ec92e6ef766cd4cda240b6bfad9d448307c02d99422c6b73c 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/).