ASC

ASC 330-910

Contractors—Construction

330 Inventory

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In brief

IntermediateInventory and PP&EIndustry-specificTransition and effective dates

ASC 330-910 was the inventory guidance specific to construction contractors, addressing how contractors accounted for inventoried costs (e.g., uninstalled materials and precontract costs) under Topic 330. All of its substantive paragraphs — Sections 05 (Overview and Background), 15 (Scope), 25 (Recognition), and 40 (Derecognition) — were superseded by Maintenance Update No. 2019-01, so the subtopic contains no operative guidance. Contractors now look to the general inventory guidance in Topic 330 and to the revenue and contract cost guidance in Topics 606 and 340-40.

Key points (5)
  • Every paragraph of this subtopic (330-910-05-1, 330-910-15-1, 330-910-25-1, and 330-910-40-1) states 'Paragraph superseded by Maintenance Update No. 2019-01.'
  • Because the subtopic is fully superseded, it imposes no recognition, measurement, or derecognition requirements and should not be cited as authoritative support.
  • Industry-specific inventory guidance for construction contractors was removed as part of the codification cleanup that followed adoption of Topic 606 and Subtopic 340-40 on revenue and contract costs.
  • Construction contractors apply the general inventory guidance in Topic 330 to inventoried materials and supplies.
  • Costs of obtaining and fulfilling contracts with customers (including precontract and uninstalled materials costs) are addressed under Subtopic 340-40 and Topic 606 rather than under 330-910.

For students. The only thing to know here is that this subtopic is empty — Maintenance Update No. 2019-01 wiped out all four paragraphs. Students sometimes cite legacy contractor inventory rules from 330-910 (or old Topic 605-35 concepts); today the answer lies in Topic 330 generally plus Topic 606 and Subtopic 340-40 for contract costs.

superseded guidanceconstruction contractor inventoryindustry-specific guidancecontract costsuninstalled materialscodification cleanup

Machine-generated study aid for ASC 330-910. Check the source paragraphs below.

330-910-00Status

Source downloaded: .Record version de3e9dff17e5. Effective date must be checked in the source.

330-910-00-1
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
910-330-05-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
910-330-15-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
910-330-25-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
910-330-40-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019

330-910-05Overview and Background

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330-910-15Scope and Scope Exceptions

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330-910-25Recognition

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330-910-40Derecognition

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Related subtopics