# ASC 405-920-25: Liabilities — Entertainment—Broadcasters — 25 Recognition

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/405/920/#25-recognition)

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## ASC 405-920-25: 25 Recognition

[Read section](https://asc.understandingaccounting.org/asc/405/920/#25-recognition)

SEC content: no

#### License Agreement for Program Material

##### [405-920-25-1](https://asc.understandingaccounting.org/asc/405/920/#405-920-25-1)

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Paragraph [920-350-25-2](https://asc.understandingaccounting.org/asc/350/920/#350-920-25-2) requires that a [broadcaster](https://asc.understandingaccounting.org/glossary/b/#broadcaster "An entity or an affiliated group of entities that transmits radio or television program material.") shall recognize an asset and a liability for the rights acquired and obligations incurred under a [license agreement](https://asc.understandingaccounting.org/glossary/l/#license-agreement "A typical license agreement for program material (for example, features, specials, series, or cartoons) covers several programs (a package) and grants a television station, group of stations, network, pay television, or cable television system (licensee) the right to broadcast either a specified number or an unlimited number of showings over a maximum period of time (license period) for a specified fee.") for program material when the license period begins and certain conditions specified in that paragraph are met.

##### [405-920-25-2](https://asc.understandingaccounting.org/asc/405/920/#405-920-25-2)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).