# ASC 310-978: Receivables — Real Estate—Time-Sharing Activities Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/310/978/) 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): 2026-09-09T23:34:09.771Z to 2026-09-09T23:34:36.034Z Record version: sha256:eab0c3b75b32b801124e1748c91889dd4923fee70b50929d87105c49e77473f4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-978: Receivables — Real Estate—Time-Sharing Activities ### Machine-generated study aids ```json { "summary": "This Subtopic governs the accounting for notes receivable arising from time-sharing interval sales, which are typically seller-financed recourse promissory notes with 5- to 10-year terms. It requires uncollectibility (of both principal and interest) to be measured on actual collection experience rather than on proceeds from receivable sales or securitizations, and requires an allowance for credit losses estimated each reporting period (at least quarterly) under Subtopic 326-20. It also prescribes specific disclosures about note maturities, interest rates, and allowance activity, including receivables sold with recourse.", "key_points": [ "Uncollectibility covers both principal and interest; accrued interest income receivable determined to be uncollectible is charged against interest income when so determined (310-978-35-2).", "Uncollectibility occurs when a receivable becomes wholly uncollectible or is modified so that less than 100 percent of the original note is collected, and is measured on actual collection experience—not on proceeds from receivable sales, securitizations, or hypothecations—regardless of who services the receivables (310-978-35-3).", "Note modifications and deferments are accounted for under Topic 310; downgrades resulting in an expected credit loss are accounted for under Topic 326, with resulting reductions in recorded investment charged against the allowance for uncollectibles (310-978-35-4).", "Incremental, direct costs of collection programs are charged to expense as incurred (310-978-35-4).", "The seller must evaluate receivables and the appropriateness of its allowance each reporting period and at least quarterly under Subtopic 326-20, with a corresponding adjustment to cost of sales and inventory (310-978-35-5).", "The allowance is determined considering expected credit losses by year of sale, aging, unit location, contract terms, collection experience, economic conditions, reasonable and supportable forecasts, and other qualitative factors (310-978-35-6).", "Required disclosures include five-year maturities of notes receivable reconciled to the balance sheet, weighted average and range of stated interest rates, estimated cost to complete improvements and promised amenities, and allowance activity—including activity on receivables sold with recourse (310-978-50-1)." ], "categories": [ "Subsequent measurement", "Impairment", "Disclosure", "Industry-specific" ], "audience_level": "intermediate", "student_note": "The trap here is measuring uncollectibility by what a seller nets from selling or securitizing its receivable portfolio—the Codification instead requires measurement based on actual collection experience, and recourse sales still require the seller to disclose allowance activity on the sold receivables. Note also that most of the old revenue/derecognition paragraphs were superseded by ASU 2014-09, so revenue on time-share sales now runs through Topic 606.", "related_topics": [ "310", "326", "978-330", "978-10", "606", "250" ], "key_concepts": [ "time-sharing notes receivable", "allowance for uncollectibles", "expected credit losses", "seller financing with recourse", "loan modification and deferment", "downgrade", "relative sales value method", "receivable securitization and hypothecation" ] } ``` Source downloaded (UTC): 2026-09-09T23:34:09.771Z to 2026-09-09T23:34:09.771Z Record version: sha256:3bcbbb72a20df6d93169ecc89c9db4876623a967037ed296f8c0c9b196d425d9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-978-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/310/978/#00-status) SEC content: no ##### [310-978-00-1](https://asc.understandingaccounting.org/asc/310/978/#310-978-00-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:09.771Z to 2026-09-09T23:34:09.771Z Record version: sha256:c3948cf5d82c3ee1012ad4a0dc50d70cb402c69e43cd03484e5e997f030a77ca Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
AssumptionSupersededAccounting Standards Update No. 2014-0905/28/2014
Modification (2nd def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Percentage-of-Completion MethodSupersededAccounting Standards Update No. 2014-0905/28/2014
Sales ValueSupersededAccounting Standards Update No. 2014-0905/28/2014
Time-SharingAmendedAccounting Standards Update No. 2014-0603/14/2014
Undivided Interest (2nd def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
978-310-30-1SupersededAccounting Standards Update No. 2014-0905/28/2014
978-310-30-2SupersededAccounting Standards Update No. 2014-0905/28/2014
978-310-35-4AmendedAccounting Standards Update No. 2022-0203/31/2022
978-310-35-4 through 35-6
AmendedAccounting Standards Update No. 2014-0905/28/2014
978-310-35-4AmendedAccounting Standards Update No. 2014-0603/14/2014
978-310-35-5AmendedAccounting Standards Update No. 2016-1306/16/2016
978-310-35-6AmendedAccounting Standards Update No. 2016-1306/16/2016
978-310-35-7SupersededAccounting Standards Update No. 2014-0905/28/2014
978-310-40-1SupersededAccounting Standards Update No. 2014-0905/28/2014
978-310-40-2SupersededAccounting Standards Update No. 2014-0905/28/2014
978-310-45-1SupersededAccounting Standards Update No. 2014-0905/28/2014
978-310-50-1AmendedAccounting Standards Update No. 2014-0905/28/2014
Source downloaded (UTC): 2026-09-09T23:34:12.208Z to 2026-09-09T23:34:12.208Z Record version: sha256:d5ac6e8dd47487a2aa2f03f8757a77fa4ab4c2d2b8b3cdd03b4294bf95d10567 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-978-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/310/978/#05-overview-and-background) SEC content: no ##### [310-978-05-1](https://asc.understandingaccounting.org/asc/310/978/#310-978-05-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:12.208Z to 2026-09-09T23:34:12.208Z Record version: sha256:fc5131642fa10084e8fbddf89b24ab649b91c7c7d38350583e76363a55c7421d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic addresses [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.") receivables recognition and measurement issues. ##### [310-978-05-2](https://asc.understandingaccounting.org/asc/310/978/#310-978-05-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:12.208Z to 2026-09-09T23:34:12.208Z Record version: sha256:052346739b6f3e59c5922b6887954590f95feff99183d2cafcdde309405235d4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Most sales of time-sharing intervals are to retail consumers, who often choose to use seller-provided financing. Although certain financial institutions will participate in the securitization or hypothecation of portfolios of time-sharing receivables, financial institutions typically will not finance the purchase of individual time-sharing intervals. Therefore, a majority of the sales price is often financed by the [time-share](https://asc.understandingaccounting.org/glossary/t/#time-share "See Interval.") seller through a promissory note (generally, with a term of 5 to 10 years) signed by the buyer. The promissory note is typically a [recourse](https://asc.understandingaccounting.org/glossary/r/#recourse "The right of a transferee of receivables to receive payment from the transferor of those receivables for any of the following: Failure of debtors to pay when due The effects of prepayments Adjustments resulting from defects in the eligibility of the transferred receivables.") note secured by the time-sharing [interval](https://asc.understandingaccounting.org/glossary/i/#interval "The specific period (generally, a specific week) during the year that a time-sharing unit is specified by agreement to be available for occupancy by a particular customer. Also denoted Time-Sharing Interest or Time-Share."). Delinquency and default rates on promissory notes vary widely among individual time-sharing entities and tend to fluctuate in line with the general state of the economy. ##### [310-978-05-3](https://asc.understandingaccounting.org/asc/310/978/#310-978-05-3) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:12.208Z to 2026-09-09T23:34:12.208Z Record version: sha256:1a7288ba5868bac150ae3a1119aa60646bd22d8e5d4d58b284f8e241e0d68209 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. In an effort to manage cash flows, many time-share sellers will sell, hypothecate, securitize, or otherwise monetize their receivables through another party. In general, those transactions are completed with some recourse to the time-share seller (that is, if receivables are uncollectible, the seller is liable for the bad debts up to stated limits). Source downloaded (UTC): 2026-09-09T23:34:15.202Z to 2026-09-09T23:34:15.202Z Record version: sha256:9325c8947398c2e9f1bbdcfef8f6b39c0ea0d62795cc7aeeced70f39dc437b59 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-978-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/310/978/#15-scope-and-scope-exceptions) SEC content: no #### Overall Guidance ##### [310-978-15-1](https://asc.understandingaccounting.org/asc/310/978/#310-978-15-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:15.202Z to 2026-09-09T23:34:15.202Z Record version: sha256:696e13a20797681c748e8afe15e265ba968fcaa9f54372a939c27ba43d1ccae3 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): 2026-09-09T23:34:21.100Z to 2026-09-09T23:34:21.100Z Record version: sha256:9d84886730062b7bb0a7416925a3aafe7645fe01c18a86501814539deec7b025 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-978-30: 30 Initial Measurement [Read section](https://asc.understandingaccounting.org/asc/310/978/#30-initial-measurement) SEC content: no ##### [310-978-30-1](https://asc.understandingaccounting.org/asc/310/978/#310-978-30-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:21.100Z to 2026-09-09T23:34:21.100Z Record version: sha256:3b8c67161e1fb444eb5b5cc370e6c17afcf25767730c6ee2b2e5d6f16a63fd60 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). ##### [310-978-30-2](https://asc.understandingaccounting.org/asc/310/978/#310-978-30-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:21.100Z to 2026-09-09T23:34:21.100Z Record version: sha256:c9fac9efce074766d1f9e2d44a121b065796ed73dc827065655b94314449d600 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-09T23:34:24.752Z to 2026-09-09T23:34:24.752Z Record version: sha256:6ed2edf4154896db621224172bf55e2bc736738892a0d38b5b69b4b7e28ad994 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-978-35: 35 Subsequent Measurement [Read section](https://asc.understandingaccounting.org/asc/310/978/#35-subsequent-measurement) SEC content: no #### Collectibility of Receivable ##### [310-978-35-1](https://asc.understandingaccounting.org/asc/310/978/#310-978-35-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:24.752Z to 2026-09-09T23:34:24.752Z Record version: sha256:ba98418439c66a4855d41eb3686c4c7949cbd08513ee3b766eaad84cf03422ef Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The collection of notes receivable is an important function for sellers of [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.") intervals. [Time-share](https://asc.understandingaccounting.org/glossary/t/#time-share "See Interval.") sellers experience some level of [uncollectibility](https://asc.understandingaccounting.org/glossary/u/#uncollectibility "A situation in which, as a result of credit issues, the time-share seller is unable to collect all amounts due (both principal and interest) according to the contractual terms of a note receivable from a buyer, or a time-share receivable has not been written off but facts and circumstances indicate that it is probable that the seller will not collect all contractual payments. Any sale that, as a result of credit issues, is cancelled or modified subsequent to being recorded as a sale is considered uncollectible. For purposes of this definition, probable is defined in paragraph 450-20-25-1 as \"likely to occur\".") in a notes receivable portfolio in the ordinary course of business. To maximize collections, sellers use several kinds of collection programs, including modifications, deferments, assumptions, and downgrades. Sellers incur various costs in using those collection programs. The following provides guidance on accounting for various forms of uncollectibility and the associated costs. ##### [310-978-35-2](https://asc.understandingaccounting.org/asc/310/978/#310-978-35-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:24.752Z to 2026-09-09T23:34:24.752Z Record version: sha256:7c8324838a2e7a8949ec12a68a9e7513768700d558ee60718260d05b882e1560 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Uncollectibility incorporates losses of both principal and interest. Accrued interest income receivable that is determined to be uncollectible shall be charged against interest income at the time the receivable is determined to be uncollectible. ##### [310-978-35-3](https://asc.understandingaccounting.org/asc/310/978/#310-978-35-3) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:24.752Z to 2026-09-09T23:34:24.752Z Record version: sha256:faf5a415d5339a63dedf031028dea3880c09a221f6ad9e368fd009da84f2b732 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Uncollectibility occurs whenever a receivable either becomes wholly uncollectible or is modified in some manner that results in less than 100-percent collection of the original note. The measurement of uncollectibility shall be based on actual receivables collection experience (and other considerations)—whether the seller or a third party is the servicer of the receivables—rather than the amounts a seller receives as proceeds for receivables sales, securitizations, or hypothecations. ##### [310-978-35-4](https://asc.understandingaccounting.org/asc/310/978/#310-978-35-4) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:24.752Z to 2026-09-09T23:34:24.752Z Record version: sha256:b0c3fb265c9956f0f5730106ded352b78cf549d3b2919a41320edf22935054c4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. A creditor (time-share seller) shall account for a note receivable modification or [deferment](https://asc.understandingaccounting.org/glossary/d/#deferment "The postponement of some or all of a debtor's payment obligations.") in accordance with Topic 310.A creditor shall account for a [downgrade](https://asc.understandingaccounting.org/glossary/d/#downgrade "A transaction under which, as a result of credit concerns, the holder of a time-sharing interval returns the interval to the seller in exchange for a lower-valued interval (and a corresponding reduction in contractual payment obligation). The determination of whether the value is lower is based on a comparison of the sales value of the new interval with the original sales value of the original interval.") that results in an expected credit loss in accordance with Topic 326 on credit losses.Any reductions in the recorded investment in a note receivable resulting from the application of that Topic shall be charged against the allowance for uncollectibles. Incremental, direct costs associated with uncollectibility, such as costs of collection programs, shall be charged to expense as incurred. ##### [310-978-35-5](https://asc.understandingaccounting.org/asc/310/978/#310-978-35-5) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:24.752Z to 2026-09-09T23:34:24.752Z Record version: sha256:31b7f52c6c5e806a409260a1cd96be839ff55ee2765012e956335dc9764f474f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. When a time-sharing sale transaction has been recorded, accounting for the allowance for credit losses follows similar valuation principles as any receivable. Each reporting period and at least quarterly a seller evaluates its receivables, estimates the amount it expects to ultimately collect, and evaluates the appropriateness of its allowance pursuant to Subtopic 326-20 on financial instruments measured at amortized cost. The allowance is then adjusted in accordance with Subtopic 326-20. A corresponding adjustment is also made to cost of sales and inventory. ##### [310-978-35-6](https://asc.understandingaccounting.org/asc/310/978/#310-978-35-6) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:24.752Z to 2026-09-09T23:34:24.752Z Record version: sha256:b66863bef97e814ea726ed79a321a720c01d8dc6e47b26c8784f45602a6263ec Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The allowance for credit losses shall be determined based on consideration of expected credit losses by year of sale, as well as the aging of notes receivable and factors such as the location of the time-sharing units, contract terms, collection experience, economic conditions, reasonable and supportable forecasts, and other qualitative factors as appropriate in the circumstances. ##### [310-978-35-7](https://asc.understandingaccounting.org/asc/310/978/#310-978-35-7) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:24.752Z to 2026-09-09T23:34:24.752Z Record version: sha256:3afa547f86247cb34973ddfb14362c7b7c4e7c42f8f0675c5408e83ba4017572 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-09T23:34:26.954Z to 2026-09-09T23:34:26.954Z Record version: sha256:571bfb363e14502206b23c75e576f9f6cb9506656d1009d582bba5dfe48cf44c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-978-40: 40 Derecognition [Read section](https://asc.understandingaccounting.org/asc/310/978/#40-derecognition) SEC content: no ##### [310-978-40-1](https://asc.understandingaccounting.org/asc/310/978/#310-978-40-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:26.954Z to 2026-09-09T23:34:26.954Z Record version: sha256:eb228cf0f9ddb86d1b01157d888d926d2a27af9c18bbc88589c781c29b0dc75c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). ##### [310-978-40-2](https://asc.understandingaccounting.org/asc/310/978/#310-978-40-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:26.954Z to 2026-09-09T23:34:26.954Z Record version: sha256:013758b291abdde15d47153e4c3ee465153a7ef81dd8182e000610a0d1e4cf03 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-09T23:34:29.886Z to 2026-09-09T23:34:29.886Z Record version: sha256:95b06deb3afccc15d5e7253fae8a9d1e8281584531c283295673169bbcc7edaa Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-978-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/310/978/#45-other-presentation-matters) SEC content: no ##### [310-978-45-1](https://asc.understandingaccounting.org/asc/310/978/#310-978-45-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:29.886Z to 2026-09-09T23:34:29.886Z Record version: sha256:004c3b778c73b298d606862c355118b3b9c85ae9866b22782537ee11941e757e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-09T23:34:33.920Z to 2026-09-09T23:34:33.920Z Record version: sha256:3cce7fa37f08dc66f75368855b78a1e7d4bcb00d8612589ee449b064fd2c40a7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-978-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/310/978/#50-disclosure) SEC content: no ##### [310-978-50-1](https://asc.understandingaccounting.org/asc/310/978/#310-978-50-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:34:33.920Z to 2026-09-09T23:34:33.920Z Record version: sha256:f800867f3fa46afadc4db6c0051311dcabb940b4b0397b9ff91c90fb1cbb9306 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. As noted in paragraph [978-330-35-1](https://asc.understandingaccounting.org/asc/330/978/#330-978-35-1), the effects of changes in estimate in the [relative sales value method](https://asc.understandingaccounting.org/glossary/r/#relative-sales-value-method "The relative sales value method is similar to a gross profit method and is used to allocate inventory cost and determine cost of sales in conjunction with a sale. Under the relative sales value method, cost of sales is calculated as a percentage of net sales using a cost-of-sales percentage—the ratio of total estimated cost (including costs to complete, if any) to total estimated time-sharing revenue. Time-sharing revenue is calculated as total expected future revenue adjusted for total expected future bad-debt expense.") shall be disclosed in accordance with Topic 250. In addition to the information otherwise required by generally accepted accounting principles (GAAP), the financial statements of entities with [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 shall disclose all of the following: 1. a Maturities of notes receivable for each of the five years following the date of the financial statements and in the aggregate for all years thereafter. The total of the notes receivable balances displayed with the various maturity dates shall be reconciled to the balance-sheet amount of notes receivable. 2. b The weighted average and range of stated interest rates of notes receivable. 3. c The estimated cost to complete improvements and [promised amenities](https://asc.understandingaccounting.org/glossary/p/#promised-amenities "Amenities that a developer is obligated to construct under the terms of time-sharing contracts with purchasers. See also Amenities."). 4. d The activity in the allowance for uncollectibles, including the balance in the allowance at the beginning and end of each period, additions associated with current-period sales, direct writeoffs charged against the allowance, and changes in estimate associated with prior-period sales. If the developer sells receivables with [recourse](https://asc.understandingaccounting.org/glossary/r/#recourse "The right of a transferee of receivables to receive payment from the transferor of those receivables for any of the following: Failure of debtors to pay when due The effects of prepayments Adjustments resulting from defects in the eligibility of the transferred receivables."), the seller shall provide the same disclosure of activity on receivables sold. 5. e [Subparagraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).