relocation of guidance to asc 220

Presentation11

1. 225-10Overall225 Income Statement

   ASC 225-10 was the "Overall" subtopic of the Income Statement topic, but every one of its paragraphs (Sections 05 Background, 15 Scope, and 45 Other Presentation Matters) was superseded by Maintenance Update 2017-19. As a result, the subtopic contains no substantive guidance; income statement presentation guidance now resides in ASC 220 (Income Statement—Reporting Comprehensive Income) and other presentation topics.

2. 225-20Unusual or Infrequently Occurring Items225 Income Statement

   ASC 225-20 formerly governed the reporting of extraordinary items (events both unusual in nature and infrequent in occurrence) and unusual or infrequently occurring items in the income statement. Every paragraph has been superseded: ASU 2015-01 eliminated the extraordinary item concept and its separate net-of-tax presentation below income from continuing operations, and Maintenance Update 2017-19 removed the remaining shell paragraphs after the transition period ended. Presentation and disclosure of material unusual or infrequently occurring items now resides in ASC 220-20 (Income Statement—Unusual or Infrequently Occurring Items).

3. 225-30Business Interruption Insurance225 Income Statement

   ASC 225-30 formerly addressed how to present and disclose business interruption insurance recoveries in the income statement. All of its content (Sections 05, 15, 45, and 50) was superseded by Maintenance Update 2017-19, so the subtopic is now an empty shell with no operative guidance. Entities receiving business interruption insurance proceeds must look to other guidance, such as the successor guidance in ASC 220-30 and general gain contingency rules.

4. 225-912Contractors—Federal Government225 Income Statement

   ASC 225-912 formerly provided income statement presentation guidance for contractors with the federal government (a subtopic of the legacy Income Statement topic). Every paragraph in the subtopic — Overview and Background (05), Scope (15), and Other Presentation Matters (45) — was superseded by Maintenance Update 2017-19, so the subtopic contains no operative guidance. Presentation questions for federal government contractors are now addressed under the revenue and other applicable topics rather than here.

5. 225-915Development Stage Entities225 Income Statement

   This subtopic formerly prescribed how a development stage entity presented its income statement — most notably cumulative amounts of revenues and expenses from inception. Every paragraph (225-915-05-1, 15-1, and 45-1) was superseded by ASU 2014-10, which eliminated the concept of a development stage entity from U.S. GAAP. As a result, there are no remaining presentation requirements in ASC 225-915.

6. 225-932Extractive Activities—Oil and Gas225 Income Statement

   ASC 225-932 was the income statement subtopic addressing oil and gas extractive activities, but every paragraph in it (Sections 05, 15, 50, and 55) was superseded by Maintenance Update 2017-19. As a result the subtopic contains no operative guidance; readers must look to ASC 932 (Extractive Activities—Oil and Gas) and ASC 220 for income statement presentation and disclosure requirements.

7. 225-942Financial Services—Depository and Lending225 Income Statement
8. 225-944Financial Services—Insurance225 Income Statement
9. 225-946Financial Services—Investment Companies225 Income Statement

   ASC 225-946 was the industry-specific income statement guidance for investment companies, but every paragraph in it (Sections 05, 15, 45, and 50) was superseded by Maintenance Update 2017-19. The subtopic is now an empty shell with no operative guidance; the substantive requirements for an investment company's statement of operations were relocated to (and remain in) ASC 946, Financial Services—Investment Companies. Readers encountering a citation to 225-946 should redirect to ASC 946-225.

10. 225-954Health Care Entities225 Income Statement

    ASC 225-954 formerly provided income statement presentation guidance for health care entities (e.g., the performance indicator and reporting of patient service revenue). Every paragraph in the subtopic — Sections 05, 15, 45, 50, and 55 — was superseded by Maintenance Update 2017-19, so the subtopic contains no operative guidance. Health care income statement presentation guidance now resides in Topic 954 (principally 954-205 and 954-225 as relocated) and, for revenue, in Topic 606.

11. 225-958Not-for-Profit Entities225 Income Statement

    ASC 225-958 was the income statement subtopic for not-for-profit entities, but every paragraph in it (Sections 05, 15, 45, 50, and 55) was superseded by Maintenance Update 2017-19. The subtopic contains no remaining substantive guidance; its former content on presenting a not-for-profit entity's statement of activities was relocated as part of the Codification's reorganization of not-for-profit presentation guidance.