# ASC 340-978-60: Other Assets and Deferred Costs — Real Estate—Time-Sharing Activities — 60 Relationships

Source: FASB Accounting Standards Codification, Basic View

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## ASC 340-978-60: 60 Relationships

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##### [340-978-60-1](https://asc.understandingaccounting.org/asc/340/978/#340-978-60-1)

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For expense determination of all costs incurred to sell [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](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.") see Subtopic 340-40 on the incremental cost of obtaining a contract with a customer.