FASB Accounting Standards Codification Subtopic 610-20, Gains and Losses from Derecognition of Nonfinancial Assets

Subtopic 610-20 is the derecognition research starting point for scoped transfers of nonfinancial assets to noncustomers. The module uses an intentionally simple sale whose contract, counterparty, consideration, and transfer date are all stipulated. Net proceeds are compared with carrying amount to derive the gain or loss after derecognition.

The FASB communicates Codification changes through Accounting Standards Updates, but the Codification—not an Update standing alone—is the authoritative US GAAP source. ASU 2017-05 is useful history for the scope and partial-sale clarifications; this record remains bound to the current Codification view.