{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/310/905/","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":"310-905","topic":"310","title":"Agriculture","area":"Assets","paragraphs":11,"summary":"ASC 310-905 provides industry-specific guidance on receivables (loans, notes, and others) for agricultural entities, with dedicated Cooperatives—Patrons Subsections for patrons of agricultural cooperatives. Its core rules govern when a patron recognizes a patronage refund receivable and how a patron's unbilled receivable from products delivered to a cooperative is subsequently measured. Scope follows ASC 905-10-15.","concepts":["patronage refund","agricultural cooperative","patron","unbilled receivable","net realizable value","advances as financing device","probable and reasonably estimable accrual"],"categories":["Recognition","Subsequent measurement","Industry-specific"],"level":"intermediate","topic_title":"Receivables","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"310-905-00-1","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\" frame=\"all\" id=\"SL50388868-203105\"><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/a/#agricultural-cooperative\" class=\"term\" title=\"The Agricultural Marketing Act of 1929 defines a cooperative association as any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing farm supplies and/or farm business services. Provided, however, that such associations are operated for producers or purchasers and conform to one or both of the following requirements: No member of an agricultural cooperative association is allowed more than one vote because of the amount of stock or membership capital he may own therein. The association does not pay dividends on stock or membership capital in excess of 8 percent per year. In addition to meeting either of the requirements in this paragraph, the association shall not deal in farm products, farm supplies, and farm business services with or for nonmembers of an agricultural cooperative in an amount greater in value than the total amount of such business transacted by it with or for members. All business transacted by any cooperative association for or on behalf of the United States or any agency or instrumentality thereof shall be disregarded in determining the volume of member and nonmember business transacted by such association.\"><span>Agricultural Cooperative</span></a></td><td class=\"entry\">Added</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\">Cooperatives</strong></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><tr><td class=\"entry\"><a href=\"/glossary/m/#member-of-an-agricultural-cooperative\" class=\"term\" title=\"A member of an agricultural cooperative is an owner-patron who is entitled to vote at corporate meetings of an agricultural cooperative.\"><span>Member of an Agricultural Cooperative</span></a></td><td class=\"entry\">Added</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\"><a href=\"/glossary/n/#net-realizable-value\" class=\"term\" title=\"Estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.\"><span>Net Realizable Value</span></a> (2nd def.)</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\"><a href=\"/glossary/n/#nonmember-of-an-agricultural-cooperative\" class=\"term\" title=\"A nonmember patron is not entitled to voting privileges. A nonmember patron may or may not be entitled to share in patronage distributions, depending on the articles and bylaws of the agricultural cooperative or on other agreements.\"><span>Nonmember of an Agricultural Cooperative</span></a></td><td class=\"entry\">Added</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\"><a href=\"/glossary/p/#patrons\" class=\"term\" title=\"Any individual, trust, estate, partnership, corporation, or agricultural cooperative with or for whom a cooperative does business on a cooperative basis, whether a member of an agricultural cooperative or nonmember of an agricultural cooperative.\"><span>Patrons</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\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><a href=\"/asc/310/905/#310-905-05-1\" class=\"xref\">905-310-05-1</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\"><a href=\"/asc/310/905/#310-905-05-2\" class=\"xref\">905-310-05-2</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\"><a href=\"/asc/310/905/#310-905-15-2\" class=\"xref\">905-310-15-2</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\"><a href=\"/asc/310/905/#310-905-25-1\" class=\"xref\">905-310-25-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/310/905/#310-905-25-1\" class=\"xref\">905-310-25-1</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\"><a href=\"/asc/310/905/#310-905-25-2\" class=\"xref\">905-310-25-2</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/310/905/#310-905-25-3\" class=\"xref\">905-310-25-3</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nAgricultural Cooperative | Added | Accounting Standards Update No. 2014-06 | 03/14/2014 …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c5e5cd4161db348243c0c22506ae5aacfe64013a76f9d541ac89ec00546ceeb8","downloaded_from":"2026-09-09T23:27:49.582Z","last_downloaded_at":"2026-09-09T23:27:49.582Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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receivables, including loans, notes, and others, for entities in the agricultural industry. The guidance for accounting for <a href=\"/glossary/p/#patrons\" class=\"term\" title=\"Any individual, trust, estate, partnership, corporation, or agricultural cooperative with or for whom a cooperative does business on a cooperative basis, whether a member of an agricultural cooperative or nonmember of an agricultural cooperative.\"><span>patrons</span></a> of <a href=\"/glossary/a/#agricultural-cooperative\" class=\"term\" title=\"The Agricultural Marketing Act of 1929 defines a cooperative association as any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing farm supplies and/or farm business services. Provided, however, that such associations are operated for producers or purchasers and conform to one or both of the following requirements: No member of an agricultural cooperative association is allowed more than one vote because of the amount of stock or membership capital he may own therein. The association does not pay dividends on stock or membership capital in excess of 8 percent per year. In addition to meeting either of the requirements in this paragraph, the association shall not deal in farm products, farm supplies, and farm business services with or for nonmembers of an agricultural cooperative in an amount greater in value than the total amount of such business transacted by it with or for members. All business transacted by any cooperative association for or on behalf of the United States or any agency or instrumentality thereof shall be disregarded in determining the volume of member and nonmember business transacted by such association.\"><span>agricultural cooperatives</span></a> is presented in the Cooperatives—Patrons Subsections.</div></div>","snippet":"This Subtopic addresses accounting for receivables, including loans, notes, and others, for entities in the agricultural industry. The guidance for accounting for patrons of agricultural cooperatives is presented in the …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f515aa3b00da14692b5b5b5c420f2958613e07a46dffbc4a2b352b25f5d79eb6","downloaded_from":"2026-09-09T23:27:52.896Z","last_downloaded_at":"2026-09-09T23:27:52.896Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478967","source_sha256":"d15f4180bda7d8fadd3d7c68230140171cdb1b0ba821f935b37d9298d98704ef"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0995b36f33c58096dcfb87e9368c73405d6f698c28e9843f2d49bba92614df4d","downloaded_from":"2026-09-09T23:27:52.896Z","last_downloaded_at":"2026-09-09T23:27:52.896Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478967","source_sha256":"d15f4180bda7d8fadd3d7c68230140171cdb1b0ba821f935b37d9298d98704ef"}},{"block":"Cooperatives—Patrons","heading":null,"paragraphs":[{"citation":"310-905-05-2","para":"05-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Cooperatives—Patrons Subsections address accounting for receivables, including loans, notes, and others, for <a href=\"/glossary/p/#patrons\" class=\"term\" title=\"Any individual, trust, estate, partnership, corporation, or agricultural cooperative with or for whom a cooperative does business on a cooperative basis, whether a member of an agricultural cooperative or nonmember of an agricultural cooperative.\"><span>patrons</span></a> of <a href=\"/glossary/a/#agricultural-cooperative\" class=\"term\" title=\"The Agricultural Marketing Act of 1929 defines a cooperative association as any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing farm supplies and/or farm business services. Provided, however, that such associations are operated for producers or purchasers and conform to one or both of the following requirements: No member of an agricultural cooperative association is allowed more than one vote because of the amount of stock or membership capital he may own therein. The association does not pay dividends on stock or membership capital in excess of 8 percent per year. In addition to meeting either of the requirements in this paragraph, the association shall not deal in farm products, farm supplies, and farm business services with or for nonmembers of an agricultural cooperative in an amount greater in value than the total amount of such business transacted by it with or for members. All business transacted by any cooperative association for or on behalf of the United States or any agency or instrumentality thereof shall be disregarded in determining the volume of member and nonmember business transacted by such association.\"><span>agricultural cooperatives</span></a>.</div></div>","snippet":"The Cooperatives—Patrons Subsections address accounting for receivables, including loans, notes, and others, for patrons of agricultural cooperatives.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bf3041d9efde532f3d397c6dc1ef6c388069bdbb635c433ac3aa9025d21dcf0a","downloaded_from":"2026-09-09T23:27:52.896Z","last_downloaded_at":"2026-09-09T23:27:52.896Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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timestamps","source_key":"1943274/2147478967","source_sha256":"d15f4180bda7d8fadd3d7c68230140171cdb1b0ba821f935b37d9298d98704ef"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e03893fcea955c1cb094a2b007b4cf966e5766fb721795c7e81538108b32ac21","downloaded_from":"2026-09-09T23:27:52.896Z","last_downloaded_at":"2026-09-09T23:27:52.896Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478967","source_sha256":"d15f4180bda7d8fadd3d7c68230140171cdb1b0ba821f935b37d9298d98704ef"}},{"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":"310-905-15-1","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 the <a href=\"/asc/905/10/#15-scope-and-scope-exceptions\" class=\"xref\">General Subsection</a> of Section 905-10-15.</div></div>","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the General Subsection of Section 905-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d69d58abc46db4e20e757b9d8baf1b3e5e438d8da75047445d1cde9f1db88b2e","downloaded_from":"2026-09-09T23:27:56.481Z","last_downloaded_at":"2026-09-09T23:27:56.481Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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href=\"/asc/905/10/#15-scope-and-scope-exceptions\" class=\"xref\">Cooperatives—Patrons Subsection</a> of Section 905-10-15.</div></div>","snippet":"The Cooperatives—Patrons Subsections follow the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the Cooperatives—Patrons Subsection of Section 905-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7fb19863a8af6f6940c7502e92790852206c1860a31dea7533edcb83ec14fabc","downloaded_from":"2026-09-09T23:27:56.481Z","last_downloaded_at":"2026-09-09T23:27:56.481Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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class=\"xref\">Paragraph superseded by Accounting Standards Update No. 2014-09</a>.</div></div>","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c802f62c3a807f38709a8c3354dda6e9486ecfdd14809eb6db2a5e3439073fca","downloaded_from":"2026-09-09T23:28:02.576Z","last_downloaded_at":"2026-09-09T23:28:02.576Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477435","source_sha256":"1654dbd5ccb13404bab83dfed32b6aea8022dd2b6c70b3c8ef858290e571ff4c"}},{"citation":"310-905-25-2","para":"25-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Paragraph superseded by Accounting Standards Update No. 2014-09</a>.</div></div>","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b8f8596aec8a96a0e73b88a3a732bd39150e87568d4b7b9164e12e0b2cb2c5eb","downloaded_from":"2026-09-09T23:28:02.576Z","last_downloaded_at":"2026-09-09T23:28:02.576Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477435","source_sha256":"1654dbd5ccb13404bab83dfed32b6aea8022dd2b6c70b3c8ef858290e571ff4c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa5b69a607044213d05f6c6d0d5b329e68a84f37e275f665f1f732ec6f4e8a3a","downloaded_from":"2026-09-09T23:28:02.576Z","last_downloaded_at":"2026-09-09T23:28:02.576Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477435","source_sha256":"1654dbd5ccb13404bab83dfed32b6aea8022dd2b6c70b3c8ef858290e571ff4c"}},{"block":"Cooperatives—Patrons","heading":"Patronage Refunds","paragraphs":[{"citation":"310-905-25-3","para":"25-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_1356E6BC-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"><a href=\"/glossary/p/#patrons\" class=\"term\" title=\"Any individual, trust, estate, partnership, corporation, or agricultural cooperative with or for whom a cooperative does business on a cooperative basis, whether a member of an agricultural cooperative or nonmember of an agricultural cooperative.\"><span>Patrons</span></a> shall recognize <a href=\"/glossary/p/#patronage\" class=\"term\" title=\"The amount of business done with a cooperative by one of its patrons. Patronage is measured by either the quantity or value of commodities received from patrons by a marketing cooperative and the quantity or value of the goods and services sold to patrons by a supply cooperative.\"><span>patronage</span></a> refunds on either of the following occasions: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_1356E99D-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">When the related patronage occurs if all of the following are probable: </span></span></div><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">1</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_1356EAF2-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">A patronage refund applicable to the period will be declared. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">2</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_1356EC0B-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">One or more future events confirming the receipt of a patronage refund are expected to occur. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">3</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_1356ECFF-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The amount of the refund can be reasonably estimated. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">4</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_1356EE31-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The accrual can be consistently made from year to year. </span></span></div></li></ol></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_1356EF76-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">On notification by the distributing <a href=\"/glossary/a/#agricultural-cooperative\" class=\"term\" title=\"The Agricultural Marketing Act of 1929 defines a cooperative association as any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing farm supplies and/or farm business services. Provided, however, that such associations are operated for producers or purchasers and conform to one or both of the following requirements: No member of an agricultural cooperative association is allowed more than one vote because of the amount of stock or membership capital he may own therein. The association does not pay dividends on stock or membership capital in excess of 8 percent per year. In addition to meeting either of the requirements in this paragraph, the association shall not deal in farm products, farm supplies, and farm business services with or for nonmembers of an agricultural cooperative in an amount greater in value than the total amount of such business transacted by it with or for members. All business transacted by any cooperative association for or on behalf of the United States or any agency or instrumentality thereof shall be disregarded in determining the volume of member and nonmember business transacted by such association.\"><span>agricultural cooperative</span></a>. </span></span></div></li></ol><span class=\"sfragment\" id=\"sfr_1356F08F-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The accrual shall be based on the latest available reliable information. </span></span></div></div>","snippet":"Patrons shall recognize patronage refunds on either of the following occasions:\n(a) When the related patronage occurs if all of the following are probable:\n(1) A patronage refund applicable to the period will be declared…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ae47a8da02c221b307cd6ff0a2583ec3cf0e56925752d87711a81d3329d38e3f","downloaded_from":"2026-09-09T23:28:02.576Z","last_downloaded_at":"2026-09-09T23:28:02.576Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477435","source_sha256":"1654dbd5ccb13404bab83dfed32b6aea8022dd2b6c70b3c8ef858290e571ff4c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ebc7a88a06c51832b6ccc220110d2a1b7c5659f190c6a9932eb6481e7820d2ee","downloaded_from":"2026-09-09T23:28:02.576Z","last_downloaded_at":"2026-09-09T23:28:02.576Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477435","source_sha256":"1654dbd5ccb13404bab83dfed32b6aea8022dd2b6c70b3c8ef858290e571ff4c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:121675179a4ad3e2720e8c1e584d2c005e1c9ab961fd9238497a71f87c4a6a53","downloaded_from":"2026-09-09T23:28:02.576Z","last_downloaded_at":"2026-09-09T23:28:02.576Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477435","source_sha256":"1654dbd5ccb13404bab83dfed32b6aea8022dd2b6c70b3c8ef858290e571ff4c"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":"Cooperatives—Patrons","heading":"Deliveries to Marketing Cooperatives","paragraphs":[{"citation":"310-905-35-1","para":"35-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_13610980-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">If there are indications that the expected net proceeds will be less than cost, the <a href=\"/glossary/p/#patrons\" class=\"term\" title=\"Any individual, trust, estate, partnership, corporation, or agricultural cooperative with or for whom a cooperative does business on a cooperative basis, whether a member of an agricultural cooperative or nonmember of an agricultural cooperative.\"><span>patron's</span></a> unbilled receivable shall be recorded at estimated <a href=\"/glossary/n/#net-realizable-value\" class=\"term\" title=\"Estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.\"><span>net realizable value</span></a>. </span></span><span class=\"sfragment\" id=\"sfr_13610B4C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> Variances from the amount recorded as an unbilled receivable shall be recognized when reasonably determinable. </span></span></div></div>","snippet":"If there are indications that the expected net proceeds will be less than cost, the patron's unbilled receivable shall be recorded at estimated net realizable value. Variances from the amount recorded as an unbilled rece…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f138d20cb82b8b749555f62d2ca1cdbb461dd4e5f0f51a49ce3da588dd87000f","downloaded_from":"2026-09-09T23:28:04.502Z","last_downloaded_at":"2026-09-09T23:28:04.502Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478557","source_sha256":"62d6783fddbf38be1785789576db4630c6fc64e0b35fd8e7497ed83582ce02b6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:265e5e2a0df55aa8079beb9200adca0d894c8fa7cc2365d79470aabe2eb7ba4e","downloaded_from":"2026-09-09T23:28:04.502Z","last_downloaded_at":"2026-09-09T23:28:04.502Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478557","source_sha256":"62d6783fddbf38be1785789576db4630c6fc64e0b35fd8e7497ed83582ce02b6"}},{"block":"Cooperatives—Patrons","heading":"Advances","paragraphs":[{"citation":"310-905-35-2","para":"35-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_13610C8A-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"><a href=\"/glossary/a/#advances\" class=\"term\" title=\"Generally used in marketing and pooling cooperatives to denote amounts paid to patrons before final settlement; for example, amounts paid to patrons on delivery of crops.\"><span>Advances</span></a> are financing devices and shall be treated as reductions in the patron's unbilled receivable and shall not be used as amounts for recording sales. </span></span></div></div>","snippet":"Advances are financing devices and shall be treated as reductions in the patron's unbilled receivable and shall not be used as amounts for recording sales.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7deed5221d92e4d882bdffbe4f59c0d04036aa62849387b70f47822067a46351","downloaded_from":"2026-09-09T23:28:04.502Z","last_downloaded_at":"2026-09-09T23:28:04.502Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478557","source_sha256":"62d6783fddbf38be1785789576db4630c6fc64e0b35fd8e7497ed83582ce02b6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7176585d11ae5a27f065c1e4af1b3dd0d7b4f8a7c0263a17680d86bdbd8ac79a","downloaded_from":"2026-09-09T23:28:04.502Z","last_downloaded_at":"2026-09-09T23:28:04.502Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478557","source_sha256":"62d6783fddbf38be1785789576db4630c6fc64e0b35fd8e7497ed83582ce02b6"}},{"block":"Cooperatives—Patrons","heading":"Patronage Refunds","paragraphs":[{"citation":"310-905-35-3","para":"35-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_13610DDF-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The accrual for <a href=\"/glossary/p/#patronage\" class=\"term\" title=\"The amount of business done with a cooperative by one of its patrons. Patronage is measured by either the quantity or value of commodities received from patrons by a marketing cooperative and the quantity or value of the goods and services sold to patrons by a supply cooperative.\"><span>patronage</span></a> refunds shall be adjusted on notification of an allocation by the cooperative. </span></span></div></div>","snippet":"The accrual for patronage refunds shall be adjusted on notification of an allocation by the cooperative.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4df2a2e2efd0b10255ee821c3e3e986d621a5bcfd888dad611f45cf695c6afa5","downloaded_from":"2026-09-09T23:28:04.502Z","last_downloaded_at":"2026-09-09T23:28:04.502Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478557","source_sha256":"62d6783fddbf38be1785789576db4630c6fc64e0b35fd8e7497ed83582ce02b6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5fa582c49bf6934245d181e59ae2423b33c98ed045d0580dd99957d60fd967b2","downloaded_from":"2026-09-09T23:28:04.502Z","last_downloaded_at":"2026-09-09T23:28:04.502Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478557","source_sha256":"62d6783fddbf38be1785789576db4630c6fc64e0b35fd8e7497ed83582ce02b6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b6a138e95085d965d64218a253d87e1078a465a07560a3e066d49a26e3cd955","downloaded_from":"2026-09-09T23:28:04.502Z","last_downloaded_at":"2026-09-09T23:28:04.502Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478557","source_sha256":"62d6783fddbf38be1785789576db4630c6fc64e0b35fd8e7497ed83582ce02b6"}}],"enrichment":{"summary":"ASC 310-905 provides industry-specific guidance on receivables (loans, notes, and others) for agricultural entities, with dedicated Cooperatives—Patrons Subsections for patrons of agricultural cooperatives. Its core rules govern when a patron recognizes a patronage refund receivable and how a patron's unbilled receivable from products delivered to a cooperative is subsequently measured. Scope follows ASC 905-10-15.","key_points":["Patrons recognize patronage refunds either when the related patronage occurs—if it is probable that a refund will be declared, confirming future events are expected, the amount is reasonably estimable, and the accrual can be made consistently year to year—or on notification by the distributing cooperative (310-905-25-3).","Any accrual of a patronage refund must be based on the latest available reliable information (310-905-25-3).","The accrual for patronage refunds is adjusted upon notification of an allocation by the cooperative (310-905-35-3).","If indications exist that expected net proceeds will be less than cost, the patron's unbilled receivable is recorded at estimated net realizable value (310-905-35-1).","Variances from the amount recorded as an unbilled receivable are recognized when reasonably determinable (310-905-35-1).","Advances from a cooperative are financing devices treated as reductions of the patron's unbilled receivable and are not used as amounts for recording sales (310-905-35-2).","Scope mirrors the Overall Agriculture Subtopic, with separate scope for the Cooperatives—Patrons Subsections (310-905-15-1; 310-905-15-2); certain recognition paragraphs were superseded by ASU 2014-09."],"categories":["Recognition","Subsequent measurement","Industry-specific"],"audience_level":"intermediate","student_note":"Exam traps here are (1) treating cooperative advances as sales revenue rather than reductions of the unbilled receivable, and (2) forgetting that a patron may accrue a patronage refund before notification only if all four conditions in 310-905-25-3(a) are met. Note that ASU 2014-09 superseded the old revenue-recognition paragraphs, so revenue questions go to ASC 606.","related_topics":["905-10","905-605","606","310-10","905-330"],"key_concepts":["patronage refund","agricultural cooperative","patron","unbilled receivable","net realizable value","advances as financing device","probable and reasonably estimable accrual"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:52c29277a82822c54977f38e518022c163e1de9fdc011037ea0eb8acc2c4ae4a","downloaded_from":"2026-09-09T23:27:49.582Z","last_downloaded_at":"2026-09-09T23:28:04.502Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"605-905","title":"Agriculture","topic_title":"Revenue Recognition","score":0.8524,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a637f0bb702283bb352ad242870da66ce7b6b0762265396969803ad61830d6ba","downloaded_from":"2026-09-10T00:45:40.215Z","last_downloaded_at":"2026-09-10T00:45:59.310Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"405-905","title":"Agriculture","topic_title":"Liabilities","score":0.8067,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:931631ca1e8aaa779b7ec3d24b24a1030cd683f7ffc9eb6051e773a83b0562ed","downloaded_from":"2026-09-10T00:15:44.426Z","last_downloaded_at":"2026-09-10T00:16:03.076Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"325-905","title":"Agriculture","topic_title":"Investments—Other","score":0.7865,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5bba6cd9c113a2e5ef0d54cd8fff64a0c85fa5e8fa1f90efce1282ff3490dd83","downloaded_from":"2026-09-09T23:45:01.186Z","last_downloaded_at":"2026-09-09T23:45:25.642Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"905-10","title":"Overall","topic_title":"Agriculture","score":0.7763,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50a7256a104a6d541b37d830f2b10a46e9297a31d722cf26f580e3cbdcebbffa","downloaded_from":"2026-09-10T02:08:37.690Z","last_downloaded_at":"2026-09-10T02:08:46.650Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-905","title":"Agriculture","topic_title":"Inventory","score":0.7713,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:871afe5ad680313e555b5613b8dcdadfcee027a3b2bb7e2d7c059ab2cd5bd14b","downloaded_from":"2026-09-09T23:51:23.210Z","last_downloaded_at":"2026-09-09T23:51:52.923Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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