{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/360/970/#35-subsequent-measurement","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":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":"Real Estate Project Costs","heading":"Real Estate Donated to Government Agencies","paragraphs":[{"citation":"360-970-35-1","para":"35-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_26FDF273-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Real estate donated to municipalities or other governmental agencies for uses that will benefit the project are not abandonments. The cost of the real estate donated shall be allocated as a common cost of the project. </span></span></div></div>","snippet":"Real estate donated to municipalities or other governmental agencies for uses that will benefit the project are not abandonments. The cost of the real estate donated shall be allocated as a common cost of the project.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6ecc486090fdb45557bab99fc5f2adea46663f4750c12055e869e73bd1ee3bd7","downloaded_from":"2026-09-10T00:12:11.808Z","last_downloaded_at":"2026-09-10T00:12:11.808Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479166","source_sha256":"0a4e2383148be20703d3744e6d065783984780262aaa444468ad3b96aa5f0cd3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:950f5fe1ef53aba8fe433d136785f4e03fc3e1a5ceb87b2544b37a3fed7eaa7b","downloaded_from":"2026-09-10T00:12:11.808Z","last_downloaded_at":"2026-09-10T00:12:11.808Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479166","source_sha256":"0a4e2383148be20703d3744e6d065783984780262aaa444468ad3b96aa5f0cd3"}},{"block":"Real Estate Project Costs","heading":"Changes in Use of Real Estate Acquired for Development","paragraphs":[{"citation":"360-970-35-2","para":"35-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_26FDF380-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Changes in the use of real estate comprising a project or a portion of a project may arise after significant development and construction costs have been incurred. If the change in use is made pursuant to a formal plan for a project that is expected to produce a higher economic yield (as compared to its yield based on use before change), the development and construction costs to be charged to expense shall be limited to the amount by which the capitalized costs incurred and to be incurred exceed the estimated value of the revised project when it is substantially complete and ready for its intended use. </span></span></div></div>","snippet":"Changes in the use of real estate comprising a project or a portion of a project may arise after significant development and construction costs have been incurred. If the change in use is made pursuant to a formal plan f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cc2e7e77f87a54fa90b103e39697582eead6f58f85c7481fa72a0898393fed11","downloaded_from":"2026-09-10T00:12:11.808Z","last_downloaded_at":"2026-09-10T00:12:11.808Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479166","source_sha256":"0a4e2383148be20703d3744e6d065783984780262aaa444468ad3b96aa5f0cd3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ebaae1ac69592f801fd99867e7295a40774b8fccf7d045fcb022bb226c7341f5","downloaded_from":"2026-09-10T00:12:11.808Z","last_downloaded_at":"2026-09-10T00:12:11.808Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479166","source_sha256":"0a4e2383148be20703d3744e6d065783984780262aaa444468ad3b96aa5f0cd3"}},{"block":"Real Estate Project Costs","heading":"Recoverability","paragraphs":[{"citation":"360-970-35-3","para":"35-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_26FDF463-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The provisions in Subtopic <a altsource=\"GUID-709FAAEC-8DFC-4054-A41F-EFA6FC5A716C.ditamap\" class=\"ditamap\">360-10</a> for long-lived assets to be disposed of by sale shall apply to a real estate project, or parts thereof, that is substantially completed and that is to be sold. The provisions in that Topic for long-lived assets to be held and used shall apply to real estate held for development, including property to be developed in the future as well as that currently under development, and to a real estate project, or parts thereof, that is substantially completed and that is to be held and used (for example, for rental). Determining whether the carrying amounts of real estate projects require recognition of an impairment loss shall be based on an evaluation of individual projects. An individual project, for this purpose, consists of components that are relatively homogeneous, integral parts of a whole (for example, individual houses in a residential tract, individual units in a condominium complex, and individual lots in a subdivision and <a href=\"/glossary/a/#amenities\" class=\"term\" title=\"Features that enhance the attractiveness or perceived value of a time-sharing interval. Examples of amenities include golf courses, utility plants, clubhouses, swimming pools, tennis courts, indoor recreational facilities, and parking facilities. See also Promised Amenities.\"><span>amenities</span></a>). Therefore, a multiphase development consisting of a tract of single-family houses, a condominium complex, and a lot subdivision generally would be evaluated as three separate projects. </span></span></div></div>","snippet":"The provisions in Subtopic 360-10 for long-lived assets to be disposed of by sale shall apply to a real estate project, or parts thereof, that is substantially completed and that is to be sold. The provisions in that Top…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4ab037850175d82be2c61049a21155dc063051a253997dca258ed205d5cab067","downloaded_from":"2026-09-10T00:12:11.808Z","last_downloaded_at":"2026-09-10T00:12:11.808Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479166","source_sha256":"0a4e2383148be20703d3744e6d065783984780262aaa444468ad3b96aa5f0cd3"}},{"citation":"360-970-35-4","para":"35-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_26FDF541-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Paragraph <a href=\"/asc/360/10/#360-10-35-21\" class=\"xref\">360-10-35-21</a> provides examples of events or changes in circumstances that indicate that the recoverability of the carrying amount of a long-lived asset shall be assessed. Insufficient rental demand for a rental project currently under construction is an additional example that indicates that the recoverability of the real estate project shall be assessed in accordance with the provisions of Subtopic <a altsource=\"GUID-709FAAEC-8DFC-4054-A41F-EFA6FC5A716C.ditamap\" class=\"ditamap\">360-10</a>. </span></span></div></div>","snippet":"Paragraph 360-10-35-21 provides examples of events or changes in circumstances that indicate that the recoverability of the carrying amount of a long-lived asset shall be assessed. Insufficient rental demand for a rental…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6e5429fb49f89e5a740f5787ae2af2f7b4249e9a85440e4a55bc8cf4d2a68525","downloaded_from":"2026-09-10T00:12:11.808Z","last_downloaded_at":"2026-09-10T00:12:11.808Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479166","source_sha256":"0a4e2383148be20703d3744e6d065783984780262aaa444468ad3b96aa5f0cd3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ee6786902ae693c3adb03dd41e2ecad6cf63a20ead9a8e5418a80aa4edfb7176","downloaded_from":"2026-09-10T00:12:11.808Z","last_downloaded_at":"2026-09-10T00:12:11.808Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479166","source_sha256":"0a4e2383148be20703d3744e6d065783984780262aaa444468ad3b96aa5f0cd3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:41e6a45cfe2050fe2ce670705a59471e2e82a1075acd7a5ba8d90003d5f62518","downloaded_from":"2026-09-10T00:12:11.808Z","last_downloaded_at":"2026-09-10T00:12:11.808Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479166","source_sha256":"0a4e2383148be20703d3744e6d065783984780262aaa444468ad3b96aa5f0cd3"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:41e6a45cfe2050fe2ce670705a59471e2e82a1075acd7a5ba8d90003d5f62518","downloaded_from":"2026-09-10T00:12:11.808Z","last_downloaded_at":"2026-09-10T00:12:11.808Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479166","source_sha256":"0a4e2383148be20703d3744e6d065783984780262aaa444468ad3b96aa5f0cd3"}}