{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/740/852/#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":"740","topic_title":"Income Taxes","subtopic":"740-852","subtopic_title":"Reorganizations","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Fresh-Start Reporting in a Chapter 11 Reorganization","paragraphs":[{"citation":"740-852-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EDECB3CD-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">For entities that meet the paragraph <a href=\"/asc/852/10/#852-10-45-19\" class=\"xref\">852-10-45-19</a> requirements for fresh-start reporting, deferred taxes shall be reported in conformity with generally accepted accounting principles (GAAP). If not recognizable at the plan confirmation date, initial recognition (that is, by elimination of the valuation allowance) of tax benefits realized from preconfirmation net operating loss <a href=\"/glossary/c/#carryforwards\" class=\"term\" title=\"Deductions or credits that cannot be utilized on the tax return during a year that may be carried forward to reduce taxable income or taxes payable in a future year. An operating loss carryforward is an excess of tax deductions over gross income in a year; a tax credit carryforward is the amount by which tax credits available for utilization exceed statutory limitations. Different tax jurisdictions have different rules about whether excess deductions or credits may be carried forward and the length of the carryforward period. The terms carryforward, operating loss carryforward, and tax credit carryforward refer to the amounts of those items, if any, reported in the tax return for the current year.\"><span>carryforwards</span></a> and deductible temporary differences shall be reported as a reduction to income tax expense. </span></span></div></div>","snippet":"For entities that meet the paragraph 852-10-45-19 requirements for fresh-start reporting, deferred taxes shall be reported in conformity with generally accepted accounting principles (GAAP). If not recognizable at the pl…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4e43f30ff502134c54c64d3d6c38ee3295def1c0fae79c2aa0154c48695b9a2f","downloaded_from":"2026-09-10T01:19:28.542Z","last_downloaded_at":"2026-09-10T01:19:28.542Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478029","source_sha256":"59882d9d5be33c3ddeef97592e827e9040d88fbec5dbe4594e175eed1c85f022"}},{"citation":"740-852-45-2","para":"45-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><a href=\"/updates/asu-2010-08/\" class=\"xref\">Paragraph superseded by Accounting Standards Update No. 2010-08</a>.</div></div>","snippet":"Paragraph superseded by Accounting Standards Update No. 2010-08.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8044c6366394d816f36885b5ff3db35bdb214a04cd10a8b98abdcf8a750bff1a","downloaded_from":"2026-09-10T01:19:28.542Z","last_downloaded_at":"2026-09-10T01:19:28.542Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478029","source_sha256":"59882d9d5be33c3ddeef97592e827e9040d88fbec5dbe4594e175eed1c85f022"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:81039bd1b8daf098ea8ef58a1cf8c0f5fdf2ef611d5cd0476ff8cceeac231683","downloaded_from":"2026-09-10T01:19:28.542Z","last_downloaded_at":"2026-09-10T01:19:28.542Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478029","source_sha256":"59882d9d5be33c3ddeef97592e827e9040d88fbec5dbe4594e175eed1c85f022"}},{"block":null,"heading":"Quasi-Reorganizations","paragraphs":[{"citation":"740-852-45-3","para":"45-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EDECB4E6-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The tax benefits of deductible temporary differences and carryforwards as of the date of a quasi-reorganization as defined and contemplated in Subtopic <a altsource=\"GUID-270E413C-5468-4ADC-BA55-11434A96FBB2.ditamap\" class=\"ditamap\">852-20</a> shall be reported as a direct addition to contributed capital if the tax benefits are recognized in subsequent years. </span></span></div></div>","snippet":"The tax benefits of deductible temporary differences and carryforwards as of the date of a quasi-reorganization as defined and contemplated in Subtopic 852-20 shall be reported as a direct addition to contributed capital…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:faf25615e659cace9df10ab7cd19658a034d491e890891b88ff0e0f5ef391c19","downloaded_from":"2026-09-10T01:19:28.542Z","last_downloaded_at":"2026-09-10T01:19:28.542Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478029","source_sha256":"59882d9d5be33c3ddeef97592e827e9040d88fbec5dbe4594e175eed1c85f022"}},{"citation":"740-852-45-4","para":"45-4","html":"<div class=\"asc-body\"><div class=\"norm-text\">See Section <a altsource=\"GUID-82E2DC56-A378-4BB8-BAFD-7EF69F46217F.ditamap\" class=\"ditamap\">852-740-55</a> for implementation guidance related to quasi-reorganizations.</div></div>","snippet":"See Section 852-740-55 for implementation guidance related to quasi-reorganizations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:75934f93ea30531bb929814ef0708f746ddbd6400fb956fce0bcb95711a21f06","downloaded_from":"2026-09-10T01:19:28.542Z","last_downloaded_at":"2026-09-10T01:19:28.542Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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