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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 Subtopic 610-20
- Version
- Codification content as verified 2026-08-06
- Where it applies
- United States GAAP
- Entities covered
- Entities applying US GAAP; limited here to an ordinary cash sale of one nonfinancial asset to a noncustomer after control transfers
- Last source check recorded
- Aug 6, 2026
- Status recorded at review
- current
- Effective from
- Not specified in this record
Check the applicable effective dates and later amendments in the source before applying this reference.
Concepts using this reference (2)
Scope used here
Beacon sells one delivery vehicle for fixed cash consideration to an unrelated noncustomer. The vehicle is not a business, subsidiary, or held-for-sale disposal group; no repurchase right, variable or noncash consideration, financing component, partial interest, or disposal cost applies. Control has transferred on the stipulated sale date.
Instructional consequence
The asset's gross cost and related accumulated depreciation are removed. Net cash proceeds less carrying amount determine the gain or loss. The full cash proceeds and the gain are not interchangeable: one is a cash amount and the other is the residual income effect after derecognizing carrying amount.
Limitations
This record is not a general sale-accounting decision tree. Scope exceptions, customer relationships, complex consideration, contract existence, control, partial sales, seller financing, real estate, and related-party facts require current paragraph-level research across the applicable Topics.