{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/430/972/","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.","number":"430-972","topic":"430","title":"Real Estate—Common Interest Realty Associations","area":"Liabilities","paragraphs":4,"summary":"ASC 430-972 was the deferred revenue guidance for common interest realty associations (CIRAs) — e.g., condominium and homeowners' associations — addressing when assessments and similar member charges collected in advance had to be deferred rather than recognized. All of its substantive paragraphs (05-1, 15-1, 25-1) were superseded by ASU 2014-09, so the subtopic is now an empty shell. 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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\"><strong class=\"ph b\">Common Interest Realty Association</strong></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</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=\"/asc/430/972/#430-972-05-1\" class=\"xref\">972-430-05-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/430/972/#430-972-15-1\" class=\"xref\">972-430-15-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/430/972/#430-972-25-1\" class=\"xref\">972-430-25-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nCommon Interest Realty Association | Superseded | Accounting Standards Update No. 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All of its substantive paragraphs (05-1, 15-1, 25-1) were superseded by ASU 2014-09, so the subtopic is now an empty shell. CIRA revenue and deferral questions are instead resolved under ASC 606 and the related contract liability guidance.","key_points":["Every remaining paragraph in this subtopic — 430-972-05-1 (overview), 430-972-15-1 (scope), and 430-972-25-1 (recognition) — is marked 'Paragraph superseded by Accounting Standards Update No. 2014-09.'","Because the guidance was superseded by ASU 2014-09, deferred revenue for common interest realty associations is now analyzed under ASC 606 as a contract liability rather than under industry-specific Topic 430 guidance.","The subtopic retains no recognition, measurement, presentation, or disclosure requirements; citing it as authoritative support is incorrect for periods after the ASU 2014-09 effective date.","Related CIRA industry guidance that survives is found in Topic 972, not in this deferred revenue subtopic."],"categories":["Revenue","Recognition","Industry-specific","Transition and effective dates"],"audience_level":"intermediate","student_note":"The practical lesson is a research lesson: a subtopic can still appear in the Codification while containing nothing but superseded paragraphs. 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