Deloitte
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Chapter 17 — Sales of Nonfinancial Assets Within the Scope of ASC 610-20

17.1 Overview and Background

17.1 Overview and Background

ASC 610-20
05-1 This Subtopic provides guidance on the recognition of gains and losses on transfers of nonfinancial assets and in substance nonfinancial assets to counterparties that are not customers. Although the guidance in this Subtopic applies to contracts with noncustomers, it refers to revenue recognition principles in Topic 606 on revenue from contracts with customers.