{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/330/978/#15-scope-and-scope-exceptions","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.","topic":"330","topic_title":"Inventory","subtopic":"330-978","subtopic_title":"Real Estate—Time-Sharing Activities","section":{"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":"330-978-15-1","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 Section <a altsource=\"GUID-F8205DD8-1CB8-4476-8985-071BE1E6F41F.ditamap\" class=\"ditamap\">978-10-15</a>, with specific transaction exceptions noted below.</div> </div>","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 978-10-15, with specific transaction exceptions noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:28f8b6f918de02fc224394ca2eb43e1490844268012e94462717e5a35f70e08d","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}},{"citation":"330-978-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">See paragraph <a href=\"/asc/810/978/#810-978-25-3\" class=\"xref\">978-810-25-3</a> for guidance concerning when an entity shall recognize its interests in a <a href=\"/glossary/s/#time-sharing-special-purpose-entity\" class=\"term\" title=\"An entity, typically a corporation or a trust, to which a seller transfers time-sharing real estate in exchange for the entity's stock, membership interests, or beneficial interests.\"><span>special-purpose entity</span></a> as inventory.</div> </div>","snippet":"See paragraph 978-810-25-3 for guidance concerning when an entity shall recognize its interests in a special-purpose entity as inventory.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5e42eaf65d157ea097ed20b5862d3bcdd7c4072b6a67375cdc4c8e11769afc53","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:26e43ded10ba310ffed6f95e1f4b294b494214e0d2329af314ffa69146b7ac8c","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"330-978-15-3","para":"15-3","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in this Subtopic applies to the following transactions and activities:<ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_31213FF8-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">All <a href=\"/glossary/t/#time-sharing\" class=\"term\" title=\"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.\"><span>time-sharing</span></a> sale transactions </span></span><span class=\"sfragment\" id=\"sfr_31214130-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">that are within the scope of Topic <a altsource=\"GUID-90450890-CA59-4C9A-A88C-D53D3DE3192F.ditamap\" class=\"ditamap\">606</a> on <a href=\"/glossary/r/#revenue\" class=\"term\" title=\"Inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing major or central operations.\"><span>revenue</span></a> from <a href=\"/glossary/c/#contract\" class=\"term\" title=\"An agreement between two or more parties that creates enforceable rights and obligations.\"><span>contracts</span></a> with <a href=\"/glossary/c/#customer\" class=\"term\" title=\"A party that has contracted with an entity to obtain goods or services that are an output of the entity's ordinary activities in exchange for consideration.\"><span>customers</span></a>.</span></span></div></li></ol></div> </div>","snippet":"The guidance in this Subtopic applies to the following transactions and activities:\n(a) All time-sharing sale transactions that are within the scope of Topic 606 on revenue from contracts with customers.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50c4e5ff439e5e1ed166316db592a2f09d7749c1a8fc95780df4442ffee296a3","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}},{"citation":"330-978-15-4","para":"15-4","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in this Subtopic does not apply to the following transactions and activities:<ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_31214226-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Time-sharing transactions transactions that fail to meet all of the criteria in paragraph <a href=\"/asc/606/10/#606-10-25-1\" class=\"xref\">606-10-25-1</a> and, therefore, are accounted for in accordance with paragraphs <div class=\"xref-range displayInline\"><a href=\"/asc/606/10/#606-10-25-6\" class=\"xref\">606-10-25-6 through 25-8</a></div>.</span></span></div></li></ol></div> </div>","snippet":"The guidance in this Subtopic does not apply to the following transactions and activities:\n(a) Time-sharing transactions transactions that fail to meet all of the criteria in paragraph 606-10-25-1 and, therefore, are acc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:212a59dd1b0fb498e6a712f6c94e985465b15153ffd0401c8ce67c85c5dd9e4e","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bcd9bde8cae010004353ab61929d2cff38c252e3f33885f0e53bb70f69dcf0b1","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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