{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/740/20/#00-status","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":"740","topic_title":"Income Taxes","subtopic":"740-20","subtopic_title":"Intraperiod Tax Allocation","section":{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"740-20-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div> <div class=\"norm-text\"> <table class=\"asc-table\" id=\"SL29647808-128542\"> <tr> <td class=\"entry\"> <strong class=\"ph b\">Paragraph</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Action</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Accounting Standards Update</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Date</strong> </td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/d/#debt-security\" class=\"term\" title=\"Any security representing a creditor relationship with an entity. The term debt security also includes all of the following: Preferred stock that by its terms either must be redeemed by the issuing entity or is redeemable at the option of the investor A collateralized mortgage obligation (or other instrument) that is issued in equity form but is required to be accounted for as a nonequity instrument regardless of how that instrument is classified (that is, whether equity or debt) in the issuer's statement of financial position U.S. Treasury securities U.S. government agency securities Municipal securities Corporate bonds Convertible debt Commercial paper All securitized debt instruments, such as collateralized mortgage obligations and real estate mortgage investment conduits Interest-only and principal-only strips. The term debt security excludes all of the following: Option contracts Financial futures contracts Forward contracts Lease contracts Receivables that do not meet the definition of security and, so, are not debt securities, for example: Trade accounts receivable arising from sales on credit by industrial or commercial entities Loans receivable arising from consumer, commercial, and real estate lending activities of financial institutions.\"><span>Debt Security</span></a> (1st def.)</td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2016-19/\" class=\"xref\">Accounting Standards Update No. 2016-19</a> </td> <td class=\"entry\">12/14/2016</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/d/#deferred-tax-expense-or-benefit\" class=\"term\" title=\"The change during the year in an entity's deferred tax liabilities and assets. For deferred tax liabilities and assets acquired in a purchase business combination during the year, it is the change since the combination date. Income tax expense (or benefit) for the year is allocated among continuing operations, discontinued operations, and items charged or credited directly to shareholders' equity.\"><span>Deferred Tax Expense (or Benefit)</span></a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/g/#gains-and-losses-included-in-comprehensive-income-but-excluded-from-net-income\" class=\"term\" title=\"Gains and losses included in comprehensive income but excluded from net income include certain changes in fair values of investments in marketable equity securities classified as noncurrent assets, certain changes in fair values of investments in industries having specialized accounting practices for marketable securities, adjustments related to pension liabilities or assets recognized within other comprehensive income, and foreign currency translation adjustments. Future changes to generally accepted accounting principles (GAAP) may change what is included in this category.\"><span>Gains and Losses Included in Comprehensive Income but Excluded from Net Income</span></a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2012-04/\" class=\"xref\">Accounting Standards Update No. 2012-04</a> </td> <td class=\"entry\">10/01/2012</td> </tr> <tr> <td class=\"entry\"> <strong class=\"ph b\">Tax Consequences</strong> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2019-12/\" class=\"xref\">Accounting Standards Update No. 2019-12</a> </td> <td class=\"entry\">12/18/2019</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/t/#temporary-difference\" class=\"term\" title=\"A difference between the tax basis of an asset or liability computed pursuant to the requirements in Subtopic 740-10 for tax positions, and its reported amount in the financial statements that will result in taxable or deductible amounts in future years when the reported amount of the asset or liability is recovered or settled, respectively. Paragraph 740-10-25-20 cites examples of temporary differences. Some temporary differences cannot be identified with a particular asset or liability for financial reporting (see paragraphs 740-10-05-10 and 740-10-25-24740-10-25-25), but those temporary differences do meet both of the following conditions: Result from events that have been recognized in the financial statements Will result in taxable or deductible amounts in future years based on provisions of the tax law. Some events recognized in financial statements do not have tax consequences. Certain revenues are exempt from taxation and certain expenses are not deductible. Events that do not have tax consequences do not give rise to temporary differences.\"><span>Temporary Difference</span></a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2016-16/\" class=\"xref\">Accounting Standards Update No. 2016-16</a> </td> <td class=\"entry\">10/24/2016</td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/20/#740-20-05-2\" class=\"xref\">740-20-05-2</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/20/#740-20-45-2\" class=\"xref\">740-20-45-2</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/20/#740-20-45-7\" class=\"xref\">740-20-45-7</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2019-12/\" class=\"xref\">Accounting Standards Update No. 2019-12</a> </td> <td class=\"entry\">12/18/2019</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/20/#740-20-45-7\" class=\"xref\">740-20-45-7</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/20/#740-20-45-8\" class=\"xref\">740-20-45-8</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2016-09/\" class=\"xref\">Accounting Standards Update No. 2016-09</a> </td> <td class=\"entry\">03/30/2016</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/20/#740-20-45-11\" class=\"xref\">740-20-45-11</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2016-09/\" class=\"xref\">Accounting Standards Update No. 2016-09</a> </td> <td class=\"entry\">03/30/2016</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/740/20/#740-20-45-15\" class=\"xref\">740-20-45-15 through 45-18</a></div> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2016-01/\" class=\"xref\">Accounting Standards Update No. 2016-01</a> </td> <td class=\"entry\">01/05/2016</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/20/#740-20-55-2\" class=\"xref\">740-20-55-2</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2016-09/\" class=\"xref\">Accounting Standards Update No. 2016-09</a> </td> <td class=\"entry\">03/30/2016</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/740/20/#740-20-55-10\" class=\"xref\">740-20-55-10 through 55-12</a></div> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2019-12/\" class=\"xref\">Accounting Standards Update No. 2019-12</a> </td> <td class=\"entry\">12/18/2019</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/740/20/#740-20-55-10\" class=\"xref\">740-20-55-10 through 55-12</a></div> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/740/20/#740-20-55-12A\" class=\"xref\">740-20-55-12A through 55-12C</a></div> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2019-12/\" class=\"xref\">Accounting Standards Update No. 2019-12</a> </td> <td class=\"entry\">12/18/2019</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/20/#740-20-55-14\" class=\"xref\">740-20-55-14</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2019-12/\" class=\"xref\">Accounting Standards Update No. 2019-12</a> </td> <td class=\"entry\">12/18/2019</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/740/20/#740-20-55-15\" class=\"xref\">740-20-55-15 through 55-17</a></div> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/20/#740-20-60-1\" class=\"xref\">740-20-60-1</a> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2016-01/\" class=\"xref\">Accounting Standards Update No. 2016-01</a> </td> <td class=\"entry\">01/05/2016</td> </tr> </table> </div> </div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nDebt Security (1st def.) | Amended | Accounting Standards Update No. 2016-19 | 12/14/201…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fffed749df68b02382db2616aa6a059c97f6427c001f50d0e39d4b63ff986630","downloaded_from":"2026-09-10T01:17:22.686Z","last_downloaded_at":"2026-09-10T01:17:22.686Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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