{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/340/952/","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":"340-952","topic":"340","title":"Franchisors","area":"Assets","paragraphs":6,"summary":"ASC 340-952 formerly contained the franchisor-specific guidance on deferred costs (for example, direct and indirect costs of franchise sales). Every paragraph in the subtopic — Sections 05, 15, and 25 — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). Franchisors now account for costs of obtaining and fulfilling franchise contracts under ASC 340-40 and recognize franchise revenue under ASC 606 (including the industry guidance in ASC 952-606).","concepts":["franchisor deferred costs","superseded guidance","initial franchise fees","costs to obtain a contract","contract fulfillment costs","revenue from contracts with customers"],"categories":["Revenue","Industry-specific","Transition and effective dates","Recognition"],"level":"intermediate","topic_title":"Other Assets and Deferred Costs","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"340-952-00-1","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\" id=\"SL51574964-203208\"> <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\"> <strong class=\"ph b\">Franchisor</strong> </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Superseded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\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/340/952/#340-952-05-1\" class=\"xref\">952-340-05-1</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/340/952/#340-952-15-1\" class=\"xref\">952-340-15-1</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\"> <div class=\"xref-range displayInline\"><a href=\"/asc/340/952/#340-952-25-1\" class=\"xref\">952-340-25-1 through 25-3</a></div> </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> </table> </div> </div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nFranchisor | Superseded | Accounting Standards Update No. 2014-09 | 05/28/2014 |\n| | | 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Every paragraph in the subtopic — Sections 05, 15, and 25 — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). Franchisors now account for costs of obtaining and fulfilling franchise contracts under ASC 340-40 and recognize franchise revenue under ASC 606 (including the industry guidance in ASC 952-606).","key_points":["All content of this subtopic, including 340-952-05-1, 340-952-15-1, and 340-952-25-1 through 25-3, was superseded by Accounting Standards Update No. 2014-09.","No extant recognition, scope, or overview guidance remains in ASC 340-952; it carries no current accounting requirements.","Costs incurred by a franchisor to obtain and fulfill a franchise contract are now evaluated under ASC 340-40 (incremental costs of obtaining a contract and contract fulfillment costs).","Franchise fee revenue (initial fees, area development fees, continuing royalties) is recognized under ASC 606, with franchisor-specific application guidance in ASC 952-606.","Legacy franchisor cost-deferral practice that matched direct costs against unrecognized franchise fee revenue is no longer authoritative GAAP."],"categories":["Revenue","Industry-specific","Transition and effective dates","Recognition"],"audience_level":"intermediate","student_note":"This subtopic is a shell — its only exam-relevant fact is that ASU 2014-09 wiped out the old franchisor cost-deferral rules. The common mistake is citing legacy franchise accounting (deferring direct costs until the franchise opens) instead of applying ASC 340-40 and ASC 606/952-606.","related_topics":["340-40","606","952-606","952-720","606-10"],"key_concepts":["franchisor deferred costs","superseded guidance","initial franchise fees","costs to obtain a contract","contract fulfillment costs","revenue from contracts with customers"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:39b46d84bbce5258ec5051deb6335474af5dfe19c7a0a94d908338e4017a0a31","downloaded_from":"2026-09-09T23:58:29.537Z","last_downloaded_at":"2026-09-09T23:58:41.693Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"720-952","title":"Franchisors","topic_title":"Other 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Costs","score":0.8282,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6e8865f3fbf5fe17a3b8ff416eea7ced5aebe7733c85beac3241b0dc8c329abc","downloaded_from":"2026-09-09T23:56:51.161Z","last_downloaded_at":"2026-09-09T23:57:08.174Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"340-910","title":"Contractors—Construction","topic_title":"Other Assets and Deferred 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