ASC 840-974
Real Estate—Real Estate Investment Trusts
840 Leases
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This subtopic previously provided lease guidance specific to real estate investment trusts (REITs) within the legacy leases topic (ASC 840). All of its content — the overview (05-1), scope (15-1), and recognition (25-1) paragraphs — was superseded by ASU 2016-02, which replaced ASC 840 with ASC 842. There is accordingly no substantive guidance remaining here.
Key points (4)
- Every paragraph in this subtopic (840-974-05-1, 840-974-15-1, and 840-974-25-1) is marked 'Paragraph superseded by Accounting Standards Update No. 2016-02.'
- ASU 2016-02 (Leases) superseded ASC 840 in its entirety, including this REIT-specific lease guidance, and replaced it with ASC 842.
- Because no operative text remains, a REIT accounts for leases under ASC 842, with real-estate-specific considerations addressed in ASC 970 and 974 as applicable.
- The subtopic is retained in the Codification only as a historical shell; it may still be relevant when analyzing pre-adoption financial statements or transition disclosures.
For students. Don't hunt for a special REIT lease rule here — the whole subtopic is superseded, and current REIT lease questions are answered by ASC 842. The common misunderstanding is assuming a superseded subtopic still carries industry-specific exceptions; it does not, though it can matter for comparative pre-adoption periods.
Machine-generated study aid for ASC 840-974. Check the source paragraphs below.
840-974-00Status
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| Paragraph | Action | Accounting Standards Update | Date |
| Real Estate Investment Trust | Superseded | Accounting Standards Update No. 2016-02 | 02/25/2016 |
| Service Corporation | Superseded | Accounting Standards Update No. 2016-02 | 02/25/2016 |
| 974-840-05-1 | Superseded | Accounting Standards Update No. 2016-02 | 02/25/2016 |
| 974-840-15-1 | Superseded | Accounting Standards Update No. 2016-02 | 02/25/2016 |
| 974-840-25-1 | Superseded | Accounting Standards Update No. 2016-02 | 02/25/2016 |
840-974-05Overview and Background
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840-974-15Scope and Scope Exceptions
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840-974-25Recognition
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