# ASC 605-972-05: Revenue Recognition — Real Estate—Common Interest Realty Associations — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/605/972/#05-overview-and-background)

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.

Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure.

Source downloaded (UTC): 2026-09-10T00:52:25.457Z to 2026-09-10T00:52:25.457Z

Record version: sha256:28511e6d10912fe3616bcd91fac12527fb6a70d79175131f7e6598dcfe94ad98

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 605-972-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/605/972/#05-overview-and-background)

SEC content: no

##### [605-972-05-1](https://asc.understandingaccounting.org/asc/605/972/#605-972-05-1)

Pending content: no

Source downloaded (UTC): 2026-09-10T00:52:25.457Z to 2026-09-10T00:52:25.457Z

Record version: sha256:fdf0ed8655b9b96b5f93f0f9fe43bb01e1f9319066e382890f3cbb1a389ed380

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).