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The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Milestone (2nd def.) Superseded Accounting Standards Update No. 2014-09 05/28/2014
Milestone Added Accounting Standards Update No. 2010-17 04/28/2010
605-28-05-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
605-28-05-1 Added Accounting Standards Update No. 2010-17 04/28/2010
605-28-15-1 through 15-4
 Superseded Accounting Standards Update No. 2014-09 05/28/2014
605-28-15-1 through 15-4
 Added Accounting Standards Update No. 2010-17 04/28/2010
605-28-25-1 through 25-3
 Superseded Accounting Standards Update No. 2014-09 05/28/2014
605-28-25-1 through 25-3
 Added Accounting Standards Update No. 2010-17 04/28/2010
605-28-50-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
605-28-50-1 Added Accounting Standards Update No. 2010-17 04/28/2010
605-28-50-2 Superseded Accounting Standards Update No. 2014-09 05/28/2014
605-28-50-2 Added Accounting Standards Update No. 2010-17 04/28/2010
605-28-65-1 Added Accounting Standards Update No. 2010-17 04/28/2010
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Every paragraph of this subtopic — scope, recognition, disclosure, and transition — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). Milestone-type contingent consideration is now accounted for as variable consideration under ASC 606, subject to the constraint on variable consideration.","key_points":["Every paragraph of ASC 605-28 (605-28-05-1, 15-1 through 15-4, 25-1 through 25-3, 50-1, 50-2, and 65-1) was superseded by Accounting Standards Update No. 2014-09.","Because the subtopic contains no operative guidance, the milestone method is no longer an available accounting policy for entities that have adopted ASC 606.","Consideration contingent on achieving a milestone is now evaluated as variable consideration under ASC 606-10-32-5 through 32-14, including the constraint on estimates of variable consideration.","The subtopic remains in the Codification only as a historical shell; researchers should treat it as superseded legacy GAAP and look to ASC 606 and ASC 340-40 instead.","Legacy financial statements or comparative periods prepared before ASC 606 adoption may still reflect milestone method policy elections and the related disclosures formerly required by 605-28-50."],"categories":["Revenue","Recognition","Transition and effective dates","Disclosure"],"audience_level":"intermediate","student_note":"Know this subtopic mainly as a dead letter: the milestone method was eliminated by ASU 2014-09, so exam answers about milestone payments should apply ASC 606's variable consideration and constraint analysis. The common mistake is assuming milestone payments can still be recognized in full when achieved simply because the milestone is \"substantive.\"","related_topics":["606","606-10","340-40","605-25","808","730-20"],"key_concepts":["milestone method","superseded guidance","substantive milestone","research and development arrangement","contingent consideration","variable consideration","accounting policy election"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:455b21ed36f4c72471b79c52e8cd8f643151cd9a32bec81ddbb5b51674fbc9eb","downloaded_from":"2026-09-10T00:43:06.050Z","last_downloaded_at":"2026-09-10T00:43:22.056Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"605-908","title":"Airlines","topic_title":"Revenue 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