Scope of this reference
Inspect the standard and the scope used in the teaching material. The verification date describes the stored review.
- Authority
- Financial Accounting Standards Board
- Standard
- ASC Topic 210
- Version
- Codification content as verified 2026-09-10
- Where it applies
- United States GAAP
- Entities covered
- Entities applying US GAAP that present a classified balance sheet; specialized entity, asset, liability, and transaction guidance can modify the general model
- Last source check recorded
- Sep 10, 2026
- Status recorded at review
- current
- Effective from
- Not specified in this record
Inspect the source: FASB Accounting Standards Codification Topic 210, Balance Sheet
Check the applicable effective dates and later amendments in the source before applying this reference.
Instructional scope
This record supports the general current-asset and current-liability model in ASC 210-10-45-1 through 45-7. The model connects current classification to the normal operating cycle and uses one year when the entity has several cycles in a year or no clearly defined cycle. It also excludes some restricted or long-lived resources from current assets and directs debt questions to Topic 470.
Limitations
This record does not classify an item from its account name. The entity's rights, restrictions, expected realization or use, obligation terms, operating cycle, and specialized guidance still control. It does not establish a liquidity target or make working capital and the current ratio US-GAAP measures of payment capacity.