# ASC 360-905-00: Property, Plant, and Equipment — Agriculture — 00 Status

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/360/905/#00-status)

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## ASC 360-905-00: 00 Status

[Read section](https://asc.understandingaccounting.org/asc/360/905/#00-status)

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##### [360-905-00-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-00-1)

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The following table identifies the changes made to this Subtopic.

<table class="asc-table" frame="all" id="SL50389339-161595"><tbody><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"><a href="https://asc.understandingaccounting.org/glossary/l/#land-development-costs" class="term" title="Land improvement and development costs generally fall within two broad classifications, permanent and limited-life, described as follows: Permanent land development costs include the costs of initial land surveys, titles, initial clearing, and initial leveling. Limited-life land development costs are those that will lose value as time passes or as the land and its improvements are used. Costs identified as limited-life improvements include water distribution systems, fencing, and drainage tile. The useful lives of those improvements are reasonably determinable."><span>Land Development Costs</span></a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2014-06/" class="xref">Accounting Standards Update No. 2014-06</a></td><td class="entry">03/14/2014</td></tr><tr><td class="entry"><strong class="ph b">Land Improvement Costs</strong></td><td class="entry">Superseded</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2014-06/" class="xref">Accounting Standards Update No. 2014-06</a></td><td class="entry">03/14/2014</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/glossary/l/#limited-life-land-development-costs" class="term" title="See Land Development Costs."><span>Limited Life Land Development Costs</span></a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2014-06/" class="xref">Accounting Standards Update No. 2014-06</a></td><td class="entry">03/14/2014</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/glossary/p/#permanent-land-development-costs" class="term" title="See Land Development Costs."><span>Permanent Land Development Costs</span></a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2014-06/" class="xref">Accounting Standards Update No. 2014-06</a></td><td class="entry">03/14/2014</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/glossary/n/#net-realizable-value" class="term" title="Estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation."><span>Net Realizable Value</span></a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2015-11/" class="xref">Accounting Standards Update No. 2015-11</a></td><td class="entry">07/22/2015</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="https://asc.understandingaccounting.org/asc/360/905/#360-905-30-1" class="xref">905-360-30-1</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2015-11/" class="xref">Accounting Standards Update No. 2015-11</a></td><td class="entry">07/22/2015</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/360/905/#360-905-30-2" class="xref">905-360-30-2</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2015-11/" class="xref">Accounting Standards Update No. 2015-11</a></td><td class="entry">07/22/2015</td></tr></tbody></table>