{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/360/970/#05-overview-and-background","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":"360","topic_title":"Property, Plant, and Equipment","subtopic":"360-970","subtopic_title":"Real Estate—General","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"360-970-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The content in this Subtopic is contained in the Real Estate Syndication Subsections and the Real Estate <a href=\"/glossary/p/#project-costs\" class=\"term\" title=\"Costs clearly associated with the acquisition, development, and construction of a real estate project.\"><span>Project Costs</span></a> Subsections.</div></div>","snippet":"The content in this Subtopic is contained in the Real Estate Syndication Subsections and the Real Estate Project Costs Subsections.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dedb280f9976557162d702c39520c4b5503d5bd04ef00d170c7137041592a938","downloaded_from":"2026-09-10T00:11:53.873Z","last_downloaded_at":"2026-09-10T00:11:53.873Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478894","source_sha256":"8b9bbd5f91ae5c492454e88e9b9116099f5d8f5b7e9cca07ca565f193c303e8c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:029b7cb14d348bcfc5d6d70b42f4f6c4c80d7dcd563c75ae7226e3b57ef38829","downloaded_from":"2026-09-10T00:11:53.873Z","last_downloaded_at":"2026-09-10T00:11:53.873Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478894","source_sha256":"8b9bbd5f91ae5c492454e88e9b9116099f5d8f5b7e9cca07ca565f193c303e8c"}},{"block":"Real Estate Syndication","heading":null,"paragraphs":[{"citation":"360-970-05-2","para":"05-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Real Estate Syndication Subsections of this Subtopic provide guidance on the accounting treatment by a real estate syndication for payments to and receipts from a real estate developer that sold property to the syndication.</div></div>","snippet":"The Real Estate Syndication Subsections of this Subtopic provide guidance on the accounting treatment by a real estate syndication for payments to and receipts from a real estate developer that sold property to the syndi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c6d5f90642e056c10d8713a2f3d9d876319cb74508f8b2f6914120b648dc467f","downloaded_from":"2026-09-10T00:11:53.873Z","last_downloaded_at":"2026-09-10T00:11:53.873Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478894","source_sha256":"8b9bbd5f91ae5c492454e88e9b9116099f5d8f5b7e9cca07ca565f193c303e8c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:da6f391a80b30fd2abedf40eead768bb86a3b410dd060f40127e84d3e0d23cc1","downloaded_from":"2026-09-10T00:11:53.873Z","last_downloaded_at":"2026-09-10T00:11:53.873Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478894","source_sha256":"8b9bbd5f91ae5c492454e88e9b9116099f5d8f5b7e9cca07ca565f193c303e8c"}},{"block":"Real Estate Project Costs","heading":null,"paragraphs":[{"citation":"360-970-05-3","para":"05-3","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Real Estate <a href=\"/glossary/p/#project-costs\" class=\"term\" title=\"Costs clearly associated with the acquisition, development, and construction of a real estate project.\"><span>Project Costs</span></a> Subsections of this Subtopic provide recognition and measurement guidance on the allocation of capitalized costs of real estate projects and changes in the use of real estate. In addition, they discuss the treatment of real estate donated or abandoned and the recoverability of the carrying amount of real estate projects.</div></div>","snippet":"The Real Estate Project Costs Subsections of this Subtopic provide recognition and measurement guidance on the allocation of capitalized costs of real estate projects and changes in the use of real estate. In addition, t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2da43760cf6efac8953e20e52f22cc12748634adea1f903a750366b7514ec0e0","downloaded_from":"2026-09-10T00:11:53.873Z","last_downloaded_at":"2026-09-10T00:11:53.873Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478894","source_sha256":"8b9bbd5f91ae5c492454e88e9b9116099f5d8f5b7e9cca07ca565f193c303e8c"}},{"citation":"360-970-05-4","para":"05-4","html":"<div class=\"asc-body\"><div class=\"norm-text\">See Subtopic <a altsource=\"GUID-F3217AC4-BD9C-4564-884D-A0B01483BA7D.ditamap\" class=\"ditamap\">970-340</a> for additional guidance on capitalization of real estate project costs.</div></div>","snippet":"See Subtopic 970-340 for additional guidance on capitalization of real estate project costs.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7fab47b576868660a702d78c1f6e20861515dea1118e8d6c849a484a5f5a153a","downloaded_from":"2026-09-10T00:11:53.873Z","last_downloaded_at":"2026-09-10T00:11:53.873Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478894","source_sha256":"8b9bbd5f91ae5c492454e88e9b9116099f5d8f5b7e9cca07ca565f193c303e8c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5d78c55810ffd2fce00937534bb14a3726293e7573a8c276c4a817092266b1f8","downloaded_from":"2026-09-10T00:11:53.873Z","last_downloaded_at":"2026-09-10T00:11:53.873Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478894","source_sha256":"8b9bbd5f91ae5c492454e88e9b9116099f5d8f5b7e9cca07ca565f193c303e8c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8336d0b930188d734aa74d06b63711941e7246b4a479c242a9d5baefff4f479","downloaded_from":"2026-09-10T00:11:53.873Z","last_downloaded_at":"2026-09-10T00:11:53.873Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478894","source_sha256":"8b9bbd5f91ae5c492454e88e9b9116099f5d8f5b7e9cca07ca565f193c303e8c"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8336d0b930188d734aa74d06b63711941e7246b4a479c242a9d5baefff4f479","downloaded_from":"2026-09-10T00:11:53.873Z","last_downloaded_at":"2026-09-10T00:11:53.873Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478894","source_sha256":"8b9bbd5f91ae5c492454e88e9b9116099f5d8f5b7e9cca07ca565f193c303e8c"}}