ASC

ASC 360-910

Contractors—Construction

360 Property, Plant, and Equipment

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In brief

IntroductoryInventory and PP&EIndustry-specificTransition and effective dates

ASC 360-910 was the construction-contractor-specific guidance on property, plant, and equipment, but every substantive paragraph (05-1, 15-1, 25-1, and 35-1) was superseded by Maintenance Update No. 2019-01. The subtopic is now an empty shell containing no operative recognition, measurement, or scope guidance. Contractors therefore apply the general PP&E guidance in ASC 360-10 (and, for contract accounting, ASC 606 and ASC 340-40).

Key points (5)
  • All four paragraphs of this subtopic (360-910-05-1, 360-910-15-1, 360-910-25-1, 360-910-35-1) were superseded by Maintenance Update No. 2019-01, leaving no operative guidance.
  • Because no industry-specific PP&E rules remain for construction contractors, the general guidance in ASC 360-10 on recognition, depreciation, and impairment of long-lived assets applies.
  • Superseded paragraph numbers are retained in the Codification as placeholders; a superseded paragraph may not be cited as authoritative support.
  • Revenue and cost accounting for construction-type contracts is governed by ASC 606 and ASC 340-40 rather than by any remaining content in ASC 910.
  • Maintenance Updates are non-substantive housekeeping changes, so the supersession here reflects cleanup of redundant guidance rather than a change in accounting outcomes.

For students. Know that an empty subtopic is not a gap in GAAP — it means the general topic (here ASC 360-10) controls. The common mistake is citing a superseded paragraph number found in older textbooks as if it were still authoritative.

superseded guidanceconstruction contractorsproperty, plant, and equipmentindustry-specific guidancelong-lived assetscodification housekeeping

Machine-generated study aid for ASC 360-910. Check the source paragraphs below.

360-910-00Status

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360-910-00-1
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
910-360-05-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
910-360-15-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
910-360-25-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
910-360-35-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019

360-910-05Overview and Background

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360-910-15Scope and Scope Exceptions

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360-910-25Recognition

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360-910-35Subsequent Measurement

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Related subtopics