ASC

ASC 720-10

Overall

720 Other Expenses

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Source downloaded: .Record version ceacbeb3de48. Effective date must be checked in the source.

In brief

IntroductoryRecognitionPresentationFinancial statement presentation

ASC 720-10 is the Overall subtopic of the Other Expenses Topic, which is essentially an organizing shell. It lists the eight subtopics housed under Topic 720 — Overall, Start-Up Costs, Insurance Costs, Contributions Made, Real and Personal Property Taxes, Advertising Costs, Electronic Equipment Waste Obligations, and Business and Technology Reengineering — and states that each contains standalone guidance with no interrelationship among them.

Key points (5)
  • Topic 720 collects guidance on miscellaneous expenses and costs not addressed in other Topics, organized into eight subtopics listed at 720-10-05-1.
  • The subtopics are Overall (720-10), Start-Up Costs (720-15), Insurance Costs (720-20), Contributions Made (720-25), Real and Personal Property Taxes (720-30), Advertising Costs (720-35), Electronic Equipment Waste Obligations (720-40), and Business and Technology Reengineering (720-45).
  • Per 720-10-05-2, each Subtopic contains standalone guidance and there is no relationship between the individual Subtopics within the Topic.
  • Because the subtopics are independent, guidance or analogies from one 720 subtopic should not be applied to another type of cost covered by a different subtopic.
  • 720-10 Overall itself supplies no recognition or measurement rules; the substantive accounting and reporting requirements reside in the specific cost subtopics.

For students. Treat 720-10 as a table of contents, not a source of rules — the testable content is in the individual subtopics (e.g., expensing start-up costs under 720-15, contributions made under 720-25). The common mistake is assuming the 720 subtopics form a coherent framework and reasoning by analogy across them, which 720-10-05-2 expressly forecloses.

other expensesstart-up costsinsurance costscontributions madeproperty taxesadvertising costselectronic equipment waste obligationsbusiness and technology reengineering

Machine-generated study aid for ASC 720-10. Check the source paragraphs below.

720-10-05Overview and Background

Source downloaded: .Record version 1dd6fc3db548. Effective date must be checked in the source.

720-10-05-1
The Other Expenses Topic includes the following Subtopics:
  1. a
    Overall
  2. b
    Start-Up Costs
  3. c
    Insurance Costs
  4. d
    Contributions Made
  5. e
    Real and Personal Property Taxes
  6. f
    Advertising Costs
  7. g
    Electronic Equipment Waste Obligations
  8. h
    Business and Technology Reengineering.
720-10-05-2
Each Subtopic in the Other Expenses Topic contains standalone guidance; there is no relationship between the individual Subtopics within this Topic. Each Subtopic provides accounting and reporting guidance for the specific type of costs and expenses as indicated by the Subtopic title.

Related subtopics