{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/740/924/#25-recognition","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":"740-924","subtopic_title":"Entertainment—Casinos","section":{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Deferred Income Taxes","paragraphs":[{"citation":"740-924-25-1","para":"25-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_DF8B894C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Financial statement reporting for casinos differs from income tax reporting, resulting in deferred income taxes when any of the following conditions are met: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_DF8B8A6B-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Recognition of casino receivables is used for financial statements and the when-collected method is used for income tax reporting. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_DF8B8B60-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Costs are deferred for financial statements and are charged to expense for income tax reporting. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_DF8B8C34-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Progressive slot jackpots are accrued based on meter readings for financial statements and are charged against revenue when paid for income tax reporting. </span></span></div></li></ol></div></div>","snippet":"Financial statement reporting for casinos differs from income tax reporting, resulting in deferred income taxes when any of the following conditions are met:\n(a) Recognition of casino receivables is used for financial st…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2b45ceb00e1b7173533784e556b21d97776f844f89a06381a39257c2be7db653","downloaded_from":"2026-09-10T01:19:46.163Z","last_downloaded_at":"2026-09-10T01:19:46.163Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477569","source_sha256":"1239d7267c15e70f17ecad0959e4d3257f9294df4969716c0efc870c4b55fffb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3238004978f334e22006939dfd536d9bf3e4998a074418dcf23119b727e5cffa","downloaded_from":"2026-09-10T01:19:46.163Z","last_downloaded_at":"2026-09-10T01:19:46.163Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477569","source_sha256":"1239d7267c15e70f17ecad0959e4d3257f9294df4969716c0efc870c4b55fffb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:20a7de7b433d445c734ab2e9be41cae4d4ac81f7acc062e01b25b406d285eaa5","downloaded_from":"2026-09-10T01:19:46.163Z","last_downloaded_at":"2026-09-10T01:19:46.163Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477569","source_sha256":"1239d7267c15e70f17ecad0959e4d3257f9294df4969716c0efc870c4b55fffb"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:20a7de7b433d445c734ab2e9be41cae4d4ac81f7acc062e01b25b406d285eaa5","downloaded_from":"2026-09-10T01:19:46.163Z","last_downloaded_at":"2026-09-10T01:19:46.163Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477569","source_sha256":"1239d7267c15e70f17ecad0959e4d3257f9294df4969716c0efc870c4b55fffb"}}