# ASC 230-978: Statement of Cash Flows — Real Estate—Time-Sharing Activities Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/230/978/) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-09T23:13:54.837Z to 2026-09-09T23:14:06.654Z Record version: sha256:1a04aebfe97f286e6a977483d5bc1394ddc27a721aaaf44ac8a9938495e7ee19 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 230-978: Statement of Cash Flows — Real Estate—Time-Sharing Activities ### Machine-generated study aids ```json { "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" ] } ``` Source downloaded (UTC): 2026-09-09T23:13:54.837Z to 2026-09-09T23:13:54.837Z Record version: sha256:34c7365cef4b61843191c1d67265a9063ddee6a932aef45d4a052a125a39ab2c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 230-978-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/230/978/#00-status) SEC content: no ##### [230-978-00-1](https://asc.understandingaccounting.org/asc/230/978/#230-978-00-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:13:54.837Z to 2026-09-09T23:13:54.837Z Record version: sha256:e8bbe2ae02b3a9f8a88b62738143422d0f5ef2edebe189cfd1b086e044a9b84d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.

Paragraph	Action	Accounting Standards Update	Date

Time-Sharing	Amended	Accounting Standards Update No. 2014-06	03/14/2014
Undivided Interest (2nd def.)	Superseded	Accounting Standards Update No. 2014-06	03/14/2014

Source downloaded (UTC): 2026-09-09T23:13:57.323Z to 2026-09-09T23:13:57.323Z Record version: sha256:209d8da8c1023938384fe325944301b5e65b44d046334a351459af6e726773ea Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 230-978-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/230/978/#05-overview-and-background) SEC content: no ##### [230-978-05-1](https://asc.understandingaccounting.org/asc/230/978/#230-978-05-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:13:57.323Z to 2026-09-09T23:13:57.323Z Record version: sha256:7b79ebf431a44810bd2f3350a6af7654fcf890ca58279deae694b4a1cd505f84 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic addresses cash flow presentation matters for real estate [time-sharing](https://asc.understandingaccounting.org/glossary/t/#time-sharing "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.") transactions. Source downloaded (UTC): 2026-09-09T23:14:00.235Z to 2026-09-09T23:14:00.235Z Record version: sha256:26f6697fc185c6e64a8ece90d8b7f404f4976f0ea56a1a424613eae72011d899 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 230-978-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/230/978/#15-scope-and-scope-exceptions) SEC content: no #### Overall Guidance ##### [230-978-15-1](https://asc.understandingaccounting.org/asc/230/978/#230-978-15-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:00.235Z to 2026-09-09T23:14:00.235Z Record version: sha256:a30bcf93262f5bd2e9f4525bf0418b1f625ade555d78661cbc4602db68e274e5 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 978-10-15. Source downloaded (UTC): 2026-09-09T23:14:06.654Z to 2026-09-09T23:14:06.654Z Record version: sha256:488916902df5467880bc3ba1df715a59617d6caf3de3bc5847ab65e8da91a099 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 230-978-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/230/978/#45-other-presentation-matters) SEC content: no ##### [230-978-45-1](https://asc.understandingaccounting.org/asc/230/978/#230-978-45-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:06.654Z to 2026-09-09T23:14:06.654Z Record version: sha256:2422dc58b4b84f986c3eb0bf4f97644fda2289a55e2cd6132d84eed6d8f1ddd1 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Changes in [time-sharing](https://asc.understandingaccounting.org/glossary/t/#time-sharing "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.") notes receivable, including sales of the notes, shall be reported in the statement of cash flows as cash flows from operating activities.