How do you read an ASC topic number?
The first digit gives the area: 100s general principles, 200s presentation, 300s assets, 400s liabilities, 500s equity, 600s revenue, 700s expenses, 800s broad transactions and 900s industries. Topic 105 sets out that the Codification is the source of authoritative GAAP. For how the numbering continues down to paragraphs, see what is US GAAP.
Presentation (200s)
| Topic | Title | In one line |
|---|---|---|
| 205 | Presentation of financial statements | Basic presentation rules and discontinued operations |
| 210 | Balance sheet | Classification of assets and liabilities |
| 220 | Income statement | Reporting comprehensive income and expense disaggregation |
| 230 | Statement of cash flows | Operating, investing and financing cash flows |
| 250 | Accounting changes and error corrections | Changes in principles and estimates, and restatements |
| 260 | Earnings per share | Basic and diluted EPS |
| 270 | Interim reporting | Quarterly financial statements |
| 280 | Segment reporting | Results by operating segment |
Assets (300s)
| Topic | Title | In one line |
|---|---|---|
| 310 | Receivables | Loans and trade receivables |
| 320 | Investments: debt securities | Trading, available-for-sale and held-to-maturity |
| 321 | Investments: equity securities | Equity investments at fair value |
| 323 | Investments: equity method and joint ventures | The equity method |
| 326 | Financial instruments: credit losses | Expected credit losses (CECL) |
| 330 | Inventory | Cost, LIFO and write-downs; see IAS 2 vs ASC 330 |
| 350 | Intangibles: goodwill and other | Goodwill, intangible assets and internal-use software |
| 360 | Property, plant and equipment | Depreciation and impairment of long-lived assets |
Liabilities and equity (400s and 500s)
| Topic | Title | In one line |
|---|---|---|
| 405 | Liabilities | Extinguishment and other general guidance |
| 410 | Asset retirement and environmental obligations | Decommissioning and clean-up costs |
| 420 | Exit or disposal cost obligations | Restructuring costs |
| 450 | Contingencies | Loss contingencies and gain contingencies |
| 460 | Guarantees | Financial and performance guarantees |
| 470 | Debt | Classification, modifications and extinguishments |
| 480 | Distinguishing liabilities from equity | Instruments that look like equity but are liabilities |
| 505 | Equity | Share capital, dividends and treasury shares |
Revenue and expenses (600s and 700s)
| Topic | Title | In one line |
|---|---|---|
| 606 | Revenue from contracts with customers | The five-step model, converged with IFRS 15 |
| 610 | Other income | Including gains and losses on derecognising non-financial assets |
| 705 | Cost of sales and services | Costs related to revenue |
| 710 | Compensation: general | Salaries and compensated absences |
| 715 | Compensation: retirement benefits | Pensions and other post-retirement benefits |
| 718 | Compensation: stock compensation | Share-based payment |
| 720 | Other expenses | Including start-up costs and advertising |
| 730 | Research and development | R&D costs, generally expensed; see IAS 38 vs ASC 730 |
| 740 | Income taxes | Current and deferred tax, uncertain tax positions; see IAS 12 vs ASC 740 |
Broad transactions (800s)
| Topic | Title | In one line |
|---|---|---|
| 805 | Business combinations | Acquisitions and goodwill |
| 808 | Collaborative arrangements | Joint operating activities |
| 810 | Consolidation | Voting interest and variable interest entity models |
| 815 | Derivatives and hedging | Derivatives and hedge accounting |
| 820 | Fair value measurement | Fair value hierarchy, converged with IFRS 13 |
| 825 | Financial instruments | Fair value option and disclosures |
| 830 | Foreign currency matters | Transactions and translation |
| 835 | Interest | Imputed and capitalised interest |
| 842 | Leases | Operating and finance leases |
| 845 | Nonmonetary transactions | Exchanges of assets without cash |
| 850 | Related party disclosures | Transactions with related parties |
| 855 | Subsequent events | Events after the balance sheet date |
| 860 | Transfers and servicing | Derecognition of financial assets |
Industry (900s), selected
| Topic | Title | In one line |
|---|---|---|
| 905 | Agriculture | Farming entities |
| 910 | Contractors: construction | Construction contractors |
| 932 | Extractive activities: oil and gas | Successful efforts and full cost methods |
| 942 | Financial services: depository and lending | Banks and lenders |
| 944 | Financial services: insurance | Insurance entities |
| 946 | Financial services: investment companies | Investment funds |
| 954 | Health care entities | Hospitals and health care providers |
| 958 | Not-for-profit entities | Charities and other not-for-profits |
| 970 | Real estate: general | Real estate sales and development |
| 980 | Regulated operations | Rate-regulated utilities |
| 985 | Software | Costs of software to be sold |
Which IFRS matches which topic?
| Subject | US GAAP | IFRS |
|---|---|---|
| Revenue | ASC 606 | IFRS 15 |
| Leases | ASC 842 | IFRS 16 |
| Credit losses | ASC 326 | IFRS 9 |
| Income taxes | ASC 740 | IAS 12 |
| Inventory | ASC 330 | IAS 2 |
| Business combinations | ASC 805 | IFRS 3 |
| Fair value | ASC 820 | IFRS 13 |
| Share-based payment | ASC 718 | IFRS 2 |
The pairs share a subject, not always the same answers. See the key differences between IFRS and US GAAP, and for the IFRS side, every IFRS and IAS explained in one line.
Need help applying the standards?
Our Chartered Accountants help finance teams and students apply IFRS and US GAAP to real transactions.
Questions people ask
What are the main ASC topics?
For most companies: ASC 606 revenue, ASC 842 leases, ASC 740 income taxes, ASC 326 credit losses, ASC 330 inventory, ASC 350 goodwill and intangibles, ASC 360 property and ASC 230 cash flows.
What does the first digit of an ASC topic mean?
The area: 200s presentation, 300s assets, 400s liabilities, 500s equity, 600s revenue, 700s expenses, 800s broad transactions, 900s industries.
What is the IFRS equivalent of ASC 842?
IFRS 16 Leases. The two differ mainly in how lessees account for leases.
Where are industry rules in US GAAP?
In the 900s, such as ASC 942 for banks and ASC 958 for not-for-profit entities.
Sources
Every fee, date and rule on this page was taken from these official and primary sources.
- Financial Accounting Standards Board: Accounting Standards Codification
- Financial Accounting Standards Board
Rules and fees change. If you are reading this long after October 4, 2026, confirm the figures with the source before you rely on them.
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This guide is general information. It is not tax or legal advice for your situation.