{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/720/20/#45-other-presentation-matters","source":"FASB Accounting Standards Codification, Basic View","usage":"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.","topic":"720","topic_title":"Other Expenses","subtopic":"720-20","subtopic_title":"Insurance Costs","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":"Claims-Made Contracts","heading":null,"paragraphs":[{"citation":"720-20-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_035D7F4D-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Unless the conditions of paragraph <a href=\"/asc/210/20/#210-20-45-1\" class=\"xref\">210-20-45-1</a> are met, offsetting prepaid insurance and receivables for expected recoveries from insurers against a recognized <a href=\"/glossary/i/#incurred-but-not-reported\" class=\"term\" title=\"Losses incurred by the insured entity that have not yet been reported to the insurance entity.\"><span>incurred but not reported</span></a> liability or the liability incurred as a result of a past insurable event would not be appropriate. </span></span></div></div>","snippet":"Unless the conditions of paragraph 210-20-45-1 are met, offsetting prepaid insurance and receivables for expected recoveries from insurers against a recognized incurred but not reported liability or the liability incurre…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b165611d1988a4a1b04b5d6aad6265baff6759319ec92ee0437ccf16b4cf8b06","downloaded_from":"2026-09-10T01:07:37.463Z","last_downloaded_at":"2026-09-10T01:07:37.463Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483387","source_sha256":"90e282d799ea7d877d0bafb1067c421ef4dac00018cf01f7d77e8fc362787c0d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:18b81f30d5b8f6bed22eec65667aaeac59e3d4bf6f04a91ee70678f68fe99dc1","downloaded_from":"2026-09-10T01:07:37.463Z","last_downloaded_at":"2026-09-10T01:07:37.463Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483387","source_sha256":"90e282d799ea7d877d0bafb1067c421ef4dac00018cf01f7d77e8fc362787c0d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c4a2bfe8f21d7a8d458e1073bd46dbd3603933a3b0ba68f340e6dc565115b76f","downloaded_from":"2026-09-10T01:07:37.463Z","last_downloaded_at":"2026-09-10T01:07:37.463Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483387","source_sha256":"90e282d799ea7d877d0bafb1067c421ef4dac00018cf01f7d77e8fc362787c0d"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c4a2bfe8f21d7a8d458e1073bd46dbd3603933a3b0ba68f340e6dc565115b76f","downloaded_from":"2026-09-10T01:07:37.463Z","last_downloaded_at":"2026-09-10T01:07:37.463Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483387","source_sha256":"90e282d799ea7d877d0bafb1067c421ef4dac00018cf01f7d77e8fc362787c0d"}}