# ASC 705-20-05: Cost of Sales and Services — Accounting for Consideration Received from a Vendor — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/705/20/#05-overview-and-background)

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## ASC 705-20-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/705/20/#05-overview-and-background)

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##### [705-20-05-1](https://asc.understandingaccounting.org/asc/705/20/#705-20-05-1)

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This Subtopic provides guidance on accounting for consideration received by an entity from a [vendor](https://asc.understandingaccounting.org/glossary/v/#vendor "A service provider or product seller, such as a manufacturer, distributor, or reseller.").