{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/230/978/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"230-978","topic":"230","title":"Real Estate—Time-Sharing Activities","area":"Presentation","paragraphs":4,"summary":"This subtopic governs how entities engaged in real estate time-sharing activities classify cash flows related to time-sharing notes receivable. The core rule is that all changes in time-sharing notes receivable — including cash received from selling those notes — are reported as operating activities in the statement of cash flows (230-978-45-1), rather than as investing or financing activities.","concepts":["time-sharing notes receivable","operating activities classification","statement of cash flows","real estate time-sharing transactions","sales of receivables","industry-specific cash flow guidance"],"categories":["Cash flows","Presentation","Industry-specific","Financial statement presentation"],"level":"intermediate","topic_title":"Statement of Cash Flows","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"230-978-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div><div class=\"norm-text\"><table class=\"asc-table\" id=\"SL50392468-203118\"><tr><td class=\"entry\"><strong class=\"ph b\">Paragraph</strong></td><td class=\"entry\"><strong class=\"ph b\">Action</strong></td><td class=\"entry\"><strong class=\"ph b\">Accounting Standards Update</strong></td><td class=\"entry\"><strong class=\"ph b\">Date</strong></td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><a href=\"/glossary/t/#time-sharing\" class=\"term\" title=\"An arrangement in which a seller sells or conveys the right to occupy a dwelling unit for specified periods in the future. Forms of time-sharing arrangements include but are not limited to fixed and floating time, interval ownership, undivided interests, points programs, vacation clubs, right-to-use arrangements such as tenancy-for-years arrangements, and arrangements involving special-purpose entities. In this context, an undivided interest is a time-sharing arrangement that involves a tenant-in-common interest in a condominium unit or entire improved property, and in which the interest holder is assigned a specific period (generally, a specific week). The interest holder is also assigned a specific unit if the undivided interest is in the entire improved property.\"><span>Time-Sharing</span></a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a></td><td class=\"entry\">03/14/2014</td></tr><tr><td class=\"entry\"><strong class=\"ph b\">Undivided Interest</strong> (2nd def.)</td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a></td><td class=\"entry\">03/14/2014</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nTime-Sharing | Amended | Accounting Standards Update No. 2014-06 | 03/14/2014 |\nUndivide…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8bbe2ae02b3a9f8a88b62738143422d0f5ef2edebe189cfd1b086e044a9b84d","downloaded_from":"2026-09-09T23:13:54.837Z","last_downloaded_at":"2026-09-09T23:13:54.837Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478663","source_sha256":"d22113e439b7ce89ba152f7c9d82ddcb0926fd3be2bdcfed2005cef817cf4b2a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d7e37bbbd9d5960b0c78fdea39c484595a69eb7ae708b6c26481b0577b18d6dd","downloaded_from":"2026-09-09T23:13:54.837Z","last_downloaded_at":"2026-09-09T23:13:54.837Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478663","source_sha256":"d22113e439b7ce89ba152f7c9d82ddcb0926fd3be2bdcfed2005cef817cf4b2a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:34c7365cef4b61843191c1d67265a9063ddee6a932aef45d4a052a125a39ab2c","downloaded_from":"2026-09-09T23:13:54.837Z","last_downloaded_at":"2026-09-09T23:13:54.837Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478663","source_sha256":"d22113e439b7ce89ba152f7c9d82ddcb0926fd3be2bdcfed2005cef817cf4b2a"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"230-978-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic addresses cash flow presentation matters for real estate <a href=\"/glossary/t/#time-sharing\" class=\"term\" title=\"An arrangement in which a seller sells or conveys the right to occupy a dwelling unit for specified periods in the future. Forms of time-sharing arrangements include but are not limited to fixed and floating time, interval ownership, undivided interests, points programs, vacation clubs, right-to-use arrangements such as tenancy-for-years arrangements, and arrangements involving special-purpose entities. In this context, an undivided interest is a time-sharing arrangement that involves a tenant-in-common interest in a condominium unit or entire improved property, and in which the interest holder is assigned a specific period (generally, a specific week). The interest holder is also assigned a specific unit if the undivided interest is in the entire improved property.\"><span>time-sharing</span></a> transactions.</div></div>","snippet":"This Subtopic addresses cash flow presentation matters for real estate time-sharing transactions.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b79ebf431a44810bd2f3350a6af7654fcf890ca58279deae694b4a1cd505f84","downloaded_from":"2026-09-09T23:13:57.323Z","last_downloaded_at":"2026-09-09T23:13:57.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477851","source_sha256":"144e7edadd237f32d1169c8ef215293eafc525911f1459d155724ca5eed4a96b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7a0cdc3a364a1ab1b7b5ba2f74fff68defb03559206cfbc74b72e1dbf4da2476","downloaded_from":"2026-09-09T23:13:57.323Z","last_downloaded_at":"2026-09-09T23:13:57.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477851","source_sha256":"144e7edadd237f32d1169c8ef215293eafc525911f1459d155724ca5eed4a96b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:209d8da8c1023938384fe325944301b5e65b44d046334a351459af6e726773ea","downloaded_from":"2026-09-09T23:13:57.323Z","last_downloaded_at":"2026-09-09T23:13:57.323Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477851","source_sha256":"144e7edadd237f32d1169c8ef215293eafc525911f1459d155724ca5eed4a96b"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"230-978-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section <a altsource=\"GUID-F8205DD8-1CB8-4476-8985-071BE1E6F41F.ditamap\" class=\"ditamap\">978-10-15</a>.</div></div>","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 978-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a30bcf93262f5bd2e9f4525bf0418b1f625ade555d78661cbc4602db68e274e5","downloaded_from":"2026-09-09T23:14:00.235Z","last_downloaded_at":"2026-09-09T23:14:00.235Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477743","source_sha256":"88e6780a760bdfaefd496c174d1a8b98e78e4c4f031d6fa8189406bef6be82e2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cfc5ee8e765f98d0f4b09387a970f45c37711386be80ba57fad6f65710057cd9","downloaded_from":"2026-09-09T23:14:00.235Z","last_downloaded_at":"2026-09-09T23:14:00.235Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477743","source_sha256":"88e6780a760bdfaefd496c174d1a8b98e78e4c4f031d6fa8189406bef6be82e2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:26f6697fc185c6e64a8ece90d8b7f404f4976f0ea56a1a424613eae72011d899","downloaded_from":"2026-09-09T23:14:00.235Z","last_downloaded_at":"2026-09-09T23:14:00.235Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477743","source_sha256":"88e6780a760bdfaefd496c174d1a8b98e78e4c4f031d6fa8189406bef6be82e2"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"230-978-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_301196CA-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Changes in <a href=\"/glossary/t/#time-sharing\" class=\"term\" title=\"An arrangement in which a seller sells or conveys the right to occupy a dwelling unit for specified periods in the future. Forms of time-sharing arrangements include but are not limited to fixed and floating time, interval ownership, undivided interests, points programs, vacation clubs, right-to-use arrangements such as tenancy-for-years arrangements, and arrangements involving special-purpose entities. In this context, an undivided interest is a time-sharing arrangement that involves a tenant-in-common interest in a condominium unit or entire improved property, and in which the interest holder is assigned a specific period (generally, a specific week). The interest holder is also assigned a specific unit if the undivided interest is in the entire improved property.\"><span>time-sharing</span></a> notes receivable, including sales of the notes, shall be reported in the statement of cash flows as cash flows from operating activities. </span></span></div></div>","snippet":"Changes in time-sharing notes receivable, including sales of the notes, shall be reported in the statement of cash flows as cash flows from operating activities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2422dc58b4b84f986c3eb0bf4f97644fda2289a55e2cd6132d84eed6d8f1ddd1","downloaded_from":"2026-09-09T23:14:06.654Z","last_downloaded_at":"2026-09-09T23:14:06.654Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479235","source_sha256":"43866be95f3a4f2a641392c00ccaf3e8351abeb01f155eb757c7dc7fcc0781fc"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d205572feec328b45fd322f82412465b81374e6d2cf73a65528a1170ea4a4f30","downloaded_from":"2026-09-09T23:14:06.654Z","last_downloaded_at":"2026-09-09T23:14:06.654Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479235","source_sha256":"43866be95f3a4f2a641392c00ccaf3e8351abeb01f155eb757c7dc7fcc0781fc"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:488916902df5467880bc3ba1df715a59617d6caf3de3bc5847ab65e8da91a099","downloaded_from":"2026-09-09T23:14:06.654Z","last_downloaded_at":"2026-09-09T23:14:06.654Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479235","source_sha256":"43866be95f3a4f2a641392c00ccaf3e8351abeb01f155eb757c7dc7fcc0781fc"}}],"enrichment":{"summary":"This subtopic governs how entities engaged in real estate time-sharing activities classify cash flows related to time-sharing notes receivable. The core rule is that all changes in time-sharing notes receivable — including cash received from selling those notes — are reported as operating activities in the statement of cash flows (230-978-45-1), rather than as investing or financing activities.","key_points":["The subtopic addresses cash flow presentation for real estate time-sharing transactions (230-978-05-1).","Its scope follows Section 978-10-15, the scope of the Real Estate—Time-Sharing Activities Overall Subtopic (230-978-15-1).","Changes in time-sharing notes receivable are reported as cash flows from operating activities (230-978-45-1).","Sales of time-sharing notes receivable are likewise classified as operating cash flows, not investing or financing (230-978-45-1)."],"categories":["Cash flows","Presentation","Industry-specific","Financial statement presentation"],"audience_level":"intermediate","student_note":"This is a short industry-specific override worth remembering: the intuitive answer — that notes receivable are investing activities and their sale is a financing/investing inflow — is wrong for time-share sellers, because the notes arise from the entity's core revenue-generating sales activity. Expect a classification question that tests whether you apply the general ASC 230 rules or this exception.","related_topics":["230-10","978-10","978-310","860-10","976-10"],"key_concepts":["time-sharing notes receivable","operating activities classification","statement of cash flows","real estate time-sharing transactions","sales of receivables","industry-specific cash flow guidance"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:44cecdf1c70c3c886aa4299158fb0c77846bbdfbb8923d6c65f4393cf5825198","downloaded_from":"2026-09-09T23:13:54.837Z","last_downloaded_at":"2026-09-09T23:14:06.654Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"230-970","title":"Real Estate—General","topic_title":"Statement of Cash 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Costs","score":0.7419,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9c5ed467b7ddcd24e4a0736ea3896c7128ea3703de0046ff09bc8b88575a3f67","downloaded_from":"2026-09-09T23:59:19.735Z","last_downloaded_at":"2026-09-09T23:59:36.956Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"310-978","title":"Real Estate—Time-Sharing Activities","topic_title":"Receivables","score":0.7374,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:589f1454e931b51ead495a18e8b3ba8576e2aec5cb6430f5d93bfb2d25aa83a6","downloaded_from":"2026-09-09T23:34:09.771Z","last_downloaded_at":"2026-09-09T23:34:36.034Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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