# ASC 720-932-05: Other Expenses — Extractive Activities—Oil and Gas — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/720/932/#05-overview-and-background)

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): 2026-09-10T01:10:36.576Z to 2026-09-10T01:10:36.576Z

Record version: sha256:2fecd39c49fd882ba08f2572f3e0ccb6f9c0cf5a14cf28a69e16cde9cd10697e

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 720-932-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/720/932/#05-overview-and-background)

SEC content: no

##### [720-932-05-1](https://asc.understandingaccounting.org/asc/720/932/#720-932-05-1)

Pending content: no

Source downloaded (UTC): 2026-09-10T01:10:36.576Z to 2026-09-10T01:10:36.576Z

Record version: sha256:64092eb63692f53a5d800964e63244d5d24f58194e2a89e52bc65ae873ca40d5

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


This Subtopic addresses costs unique to the oil and gas industry that are to be expensed immediately.