# ASC 855-10-05: Subsequent Events — Overall — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/855/10/#05-overview-and-background)

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): 2026-09-10T02:04:27.113Z to 2026-09-10T02:04:27.113Z

Record version: sha256:4715329b8c32c22deeb9f9fb30f021f0a34ed0f0818db50e59d1e8aac9ff9ac1

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 855-10-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/855/10/#05-overview-and-background)

SEC content: no

##### [855-10-05-1](https://asc.understandingaccounting.org/asc/855/10/#855-10-05-1)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:04:27.113Z to 2026-09-10T02:04:27.113Z

Record version: sha256:0102be44629cfb5c76a10b1450e230471fe5049642cf73455b41f5a9a2b7882f

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


This Topic provides guidance on principles and requirements for [subsequent events](https://asc.understandingaccounting.org/glossary/s/#subsequent-events "Events or transactions that occur after the balance sheet date but before financial statements are issued or are available to be issued. There are two types of subsequent events: The first type consists of events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements (that is, recognized subsequent events). The second type consists of events that provide evidence about conditions that did not exist at the date of the balance sheet but arose subsequent to that date (that is, nonrecognized subsequent events).").

##### [855-10-05-2](https://asc.understandingaccounting.org/asc/855/10/#855-10-05-2)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:04:27.113Z to 2026-09-10T02:04:27.113Z

Record version: sha256:80eab17728d859c29091022ae9a0995fd2879a7299cb228b2e118b6c129d44ec

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


[Paragraph not used](https://asc.understandingaccounting.org/updates/page-1833002/).

##### [855-10-05-3](https://asc.understandingaccounting.org/asc/855/10/#855-10-05-3)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:04:27.113Z to 2026-09-10T02:04:27.113Z

Record version: sha256:9ac19835f18dd077fd006bbaf9228ffa73cc0cfe225bf236384d2a0467843696

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


[Paragraph not used](https://asc.understandingaccounting.org/updates/page-1833002/).

##### [855-10-05-4](https://asc.understandingaccounting.org/asc/855/10/#855-10-05-4)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:04:27.113Z to 2026-09-10T02:04:27.113Z

Record version: sha256:caf435d2639684c4e6002e07ca50f08a0ffbd9e1bd69b2c619bbcc06e24b33d3

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


[Paragraph not used](https://asc.understandingaccounting.org/updates/page-1833002/).

##### [855-10-05-5](https://asc.understandingaccounting.org/asc/855/10/#855-10-05-5)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:04:27.113Z to 2026-09-10T02:04:27.113Z

Record version: sha256:57826033198d609b733f188b5282a2e608164105b2bae8fedcc5890570692577

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


[Paragraph not used](https://asc.understandingaccounting.org/updates/page-1833002/).