# ASC 740-924-25: Income Taxes — Entertainment—Casinos — 25 Recognition

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/740/924/#25-recognition)

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## ASC 740-924-25: 25 Recognition

[Read section](https://asc.understandingaccounting.org/asc/740/924/#25-recognition)

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#### Deferred Income Taxes

##### [740-924-25-1](https://asc.understandingaccounting.org/asc/740/924/#740-924-25-1)

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Financial statement reporting for casinos differs from income tax reporting, resulting in deferred income taxes when any of the following conditions are met:

1.  a
    
    Recognition of casino receivables is used for financial statements and the when-collected method is used for income tax reporting.
    
2.  b
    
    Costs are deferred for financial statements and are charged to expense for income tax reporting.
    
3.  c
    
    Progressive slot jackpots are accrued based on meter readings for financial statements and are charged against revenue when paid for income tax reporting.