{ "media_type": "text", "post_content": "What is the correct ASC topic for accounting for insurance proceeds (claim for stolen goods)? Trying to read up on why the cash goes to an expense offset or gain below the line.", "post_id": "61aa52949036c6003716d4ee", "reply_count": 3, "vote_count": 1, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting" }

What is the correct ASC topic for accounting for insurance proceeds (claim for stolen goods)? Trying to read up on why the cash goes to an expense offset or gain below the line.

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Gain, right?

That’s what I remember from intermediate and the CPA exam but you can’t rebut someone above you without the guidance.

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