# ASC 852-20-S55: Reorganizations — Quasi-Reorganizations — SEC 55 Implementation Guidance and Illustrations

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/852/20/#sec-55-implementation-guidance-and-illustrations)

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): 2026-09-10T02:03:55.642Z to 2026-09-10T02:03:55.642Z

Record version: sha256:795113ad37028fb12008178d3874416d149a8ec68cbd01cd79db02106b98eb5f

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 852-20-S55: SEC 55 Implementation Guidance and Illustrations

[Read section](https://asc.understandingaccounting.org/asc/852/20/#sec-55-implementation-guidance-and-illustrations)

SEC content: yes

#### Quasi-Reorganization

##### [852-20-S55-1](https://asc.understandingaccounting.org/asc/852/20/#852-20-S55-1)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:03:55.642Z to 2026-09-10T02:03:55.642Z

Record version: sha256:b0bde430bd6f5bd5567d31615bddee75bff199e254dd19037b108dfa1bd58ff1

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


See paragraph [852-20-S99-2](https://asc.understandingaccounting.org/asc/852/20/#852-20-S99-2), SAB Topic 5.S, Question 1, for SEC Staff views on reclassifying accumulated deficit without satisfying the conditions in CFRR 210 for reorganization.

#### Implementing a Change in Accounting Principle in Conjunction with a Quasi-Reorganization

##### [852-20-S55-2](https://asc.understandingaccounting.org/asc/852/20/#852-20-S55-2)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:03:55.642Z to 2026-09-10T02:03:55.642Z

Record version: sha256:9b81edb5ef6c99d8c06f33b540623eafbdfd08438d5c29790baceed24871532d

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


See paragraph [852-20-S99-2](https://asc.understandingaccounting.org/asc/852/20/#852-20-S99-2), SAB Topic 5.S, Question 2, for SEC Staff views on implementing an accounting change in conjunction with a quasi-reorganization.

#### Write-Up of Net Assets in Conjunction with a Quasi-Reorganization

##### [852-20-S55-3](https://asc.understandingaccounting.org/asc/852/20/#852-20-S55-3)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:03:55.642Z to 2026-09-10T02:03:55.642Z

Record version: sha256:b5bce5ee4841946b2bea9eb7e0353e7e0767ff03d0abd1f0c24cdfac8f0144f0

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


See paragraph [852-20-S99-2](https://asc.understandingaccounting.org/asc/852/20/#852-20-S99-2), SAB Topic 5.S, Question 3, for SEC Staff views on writing up assets in conjunction with a quasi-reorganization.

#### Accounting for the Subsequent Recognition of Tax Benefits that Existed at the Date of a Quasi-Reorganization

##### [852-20-S55-4](https://asc.understandingaccounting.org/asc/852/20/#852-20-S55-4)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:03:55.642Z to 2026-09-10T02:03:55.642Z

Record version: sha256:7807a0f9e5c4ec8a711cb27f6c46fb2a8b52e7e2a0d0ec51f02aa9187c50ebf9

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


See paragraph [852-20-S99-2](https://asc.understandingaccounting.org/asc/852/20/#852-20-S99-2), SAB Topic 5.S, Question 4, for SEC Staff views on accounting for the subsequent recognition of tax benefits that existed at the date of a quasi-reorganization.

#### "Undoing" a Quasi-Reorganization

##### [852-20-S55-5](https://asc.understandingaccounting.org/asc/852/20/#852-20-S55-5)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:03:55.642Z to 2026-09-10T02:03:55.642Z

Record version: sha256:dff484374f2e108a960e1b6049a76456d39c82f12b9343366a500e28a438279b

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


See paragraph [852-20-S99-2](https://asc.understandingaccounting.org/asc/852/20/#852-20-S99-2), SAB Topic 5.S, Question 5, for SEC Staff views on undoing a previous quasi-reorganization.