{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/330/976/","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":"330-976","topic":"330","title":"Real Estate—Retail Land","area":"Assets","paragraphs":3,"summary":"This Subtopic sets the inventory-related disclosure requirements for entities engaged in retail land sales operations, focusing on future expenditures for land improvements. Entities must disclose the estimated total costs and timing of improvement expenditures for major selling areas for each of the five years after the balance sheet date, plus any recorded obligations for improvements (330-976-50-1).","concepts":["retail land sales","improvement expenditures","estimated total costs","recorded obligations","real estate inventory","five-year disclosure schedule"],"categories":["Disclosure","Inventory and PP&E","Industry-specific"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-976-05-1","para":"05-1","html":"
This Subtopic provides disclosure guidance concerning expenditures for improvements of entities with retail land sales operations.
","snippet":"This Subtopic provides disclosure guidance concerning expenditures for improvements of entities with retail land sales operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eef900a43a59f8facf8f8ae58337dc50077fc86b7f35d815efe6a7df42480b75","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:24.824Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478011","source_sha256":"082d02e3b0f3f96cc7b6620cd7a2b11f12dd96aa563192a46616214dc3a50af0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ae343f1c91c60167c1c07ee9f3ac9dc002fd8ac30bc56eee4bef0c1a47d0e0ec","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:24.824Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478011","source_sha256":"082d02e3b0f3f96cc7b6620cd7a2b11f12dd96aa563192a46616214dc3a50af0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3edc653191e57daa2f616e2f23f929782f8d3b6ba471c9c741e5115630c93137","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:24.824Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478011","source_sha256":"082d02e3b0f3f96cc7b6620cd7a2b11f12dd96aa563192a46616214dc3a50af0"}},{"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":"330-976-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 976-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 976-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4907c617bbbfb85d0ebb00e60e8ddca82822afd0dd8ca6c8c62edcf1d43d003a","downloaded_from":"2026-09-09T23:53:26.451Z","last_downloaded_at":"2026-09-09T23:53:26.451Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477735","source_sha256":"54b6046db707237b963230a028cd03a87bb09bbf59e409e12e4e40e3b3d405ca"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e279b5603d650e6c275d89d58e1b4472fbd64d783846789d3fde4a29e41de851","downloaded_from":"2026-09-09T23:53:26.451Z","last_downloaded_at":"2026-09-09T23:53:26.451Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477735","source_sha256":"54b6046db707237b963230a028cd03a87bb09bbf59e409e12e4e40e3b3d405ca"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:04833fec9a71f49f53ac697d3f878de0826c3e73be6e091b57da644be07fcff5","downloaded_from":"2026-09-09T23:53:26.451Z","last_downloaded_at":"2026-09-09T23:53:26.451Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477735","source_sha256":"54b6046db707237b963230a028cd03a87bb09bbf59e409e12e4e40e3b3d405ca"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-976-50-1","para":"50-1","html":"
Disclosures by entities with retail land sales operations shall include both of the following:
  1. a
    Estimated total costs and estimated dates of expenditures for improvements for major areas from which sales are being made over each of the five years following the date of the financial statements
  2. b
    Recorded obligations for improvements.
","snippet":"Disclosures by entities with retail land sales operations shall include both of the following:\n(a) Estimated total costs and estimated dates of expenditures for improvements for major areas from which sales are being mad…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9942bebf4570df633f9b66d6d3d9f2c26b3c9876a5dacfaca13c70a21baf08b4","downloaded_from":"2026-09-09T23:53:30.083Z","last_downloaded_at":"2026-09-09T23:53:30.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478253","source_sha256":"d4ceee207cc94439aef011b680653ccb863bdccd994392214c1b8e021761b3da"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:473b8755160a364884b9c82b044b367b29390ffbc5f447f1a28a992ff3643216","downloaded_from":"2026-09-09T23:53:30.083Z","last_downloaded_at":"2026-09-09T23:53:30.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478253","source_sha256":"d4ceee207cc94439aef011b680653ccb863bdccd994392214c1b8e021761b3da"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac2c8d6c9cb07b95c4ac892ead02eb721b75f73bb74bc399ad81245851983179","downloaded_from":"2026-09-09T23:53:30.083Z","last_downloaded_at":"2026-09-09T23:53:30.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478253","source_sha256":"d4ceee207cc94439aef011b680653ccb863bdccd994392214c1b8e021761b3da"}}],"enrichment":{"summary":"This Subtopic sets the inventory-related disclosure requirements for entities engaged in retail land sales operations, focusing on future expenditures for land improvements. Entities must disclose the estimated total costs and timing of improvement expenditures for major selling areas for each of the five years after the balance sheet date, plus any recorded obligations for improvements (330-976-50-1).","key_points":["The Subtopic provides only disclosure guidance concerning expenditures for improvements by entities with retail land sales operations (330-976-05-1).","Its scope is the same as the Overall Real Estate—Retail Land Subtopic, Section 976-10-15 (330-976-15-1).","Entities must disclose estimated total costs and estimated dates of expenditures for improvements for major areas from which sales are being made, for each of the five years following the financial statement date (330-976-50-1(a)).","Entities must also disclose recorded obligations for improvements (330-976-50-1(b))."],"categories":["Disclosure","Inventory and PP&E","Industry-specific"],"audience_level":"intermediate","student_note":"Remember this is a pure disclosure Subtopic\\u2014it does not tell you how to measure or capitalize improvement costs (that comes from ASC 976-360 and ASC 970); students often mistake the five-year schedule for a recognition rule when it is only a forward-looking cost-and-timing disclosure.","related_topics":["976-10","976-360","976-605","970","330-10"],"key_concepts":["retail land sales","improvement expenditures","estimated total costs","recorded obligations","real estate inventory","five-year disclosure schedule"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fae3d4f9ac76d4c50ba43b2f2c798cc1b3cc85b9151ce9dc758c8e50f6fb3bf7","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:33.731Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"705-976","title":"Real Estate—Retail Land","topic_title":"Cost of Sales and Services","score":0.7991,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:761a55a91495cc9ea64c082baaa8c44ee8865efc18754315a936eaf947405004","downloaded_from":"2026-09-10T00:56:41.306Z","last_downloaded_at":"2026-09-10T00:56:51.715Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"976-10","title":"Overall","topic_title":"Real Estate—Retail Land","score":0.7553,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:88c0871e71443721785dac934b2b635a6969a85f7fe2fedcb7d0a564016bfc41","downloaded_from":"2026-09-10T02:26:50.000Z","last_downloaded_at":"2026-09-10T02:26:59.868Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"310-976","title":"Real Estate—Retail Land","topic_title":"Receivables","score":0.743,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:953512a20087f784ff8817c67ad602529cb8c7a4413a246bc2ead8f5e0a63980","downloaded_from":"2026-09-09T23:33:45.972Z","last_downloaded_at":"2026-09-09T23:34:07.123Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"970-10","title":"Overall","topic_title":"Real Estate—General","score":0.7146,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4d2175442f10f989ab9d1ee85314302e457c771642ba5b5e596cae661f9baefd","downloaded_from":"2026-09-10T02:25:52.021Z","last_downloaded_at":"2026-09-10T02:26:12.373Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"720-970","title":"Real Estate—General","topic_title":"Other Expenses","score":0.7003,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a8ff9f17748caf4624067c34731b7d4b9c832bdc52f8277661e3fa415c634359","downloaded_from":"2026-09-10T01:13:30.229Z","last_downloaded_at":"2026-09-10T01:13:42.190Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"230-970","title":"Real Estate—General","topic_title":"Statement of Cash Flows","score":0.6888,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9cdcae2ff1e86d3953a56306a448211c62bf8f1bdb6aa4a4ca9b3bae055ce45c","downloaded_from":"2026-09-09T23:13:47.405Z","last_downloaded_at":"2026-09-09T23:13:52.062Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-932","title":"Extractive Activities—Oil and Gas","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c553a5911f1d457d49a1aea9a50b0b92553e2999c8ea291aad0f554142805c2a","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:22.955Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-978","title":"Real Estate—Time-Sharing Activities","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1f1e16faadd2262c053640e7ece7a3845f200e82d3d9bbf60b8fd2b0df07c3bd","downloaded_from":"2026-09-09T23:53:35.942Z","last_downloaded_at":"2026-09-09T23:53:56.981Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:34ef1caf7437bd16a1da2005f3eaff9bb82a867f141c8adb9d6b47b440a40f56","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:33.731Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}