ASC 845-926
Entertainment—Films
845 Nonmonetary Transactions
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ASC 845-926 was the industry-specific guidance applying nonmonetary-exchange principles to film entities (e.g., barter or exchange transactions involving film licensing rights). Every remaining paragraph in the subtopic — the overview (845-926-05-1), scope (845-926-15-1), and recognition (845-926-25-1) guidance — was superseded by ASU 2014-09, the revenue recognition standard. As a result, the subtopic contains no operative guidance; exchanges of film rights for consideration other than cash are now analyzed under ASC 606 (and related film cost guidance in ASC 926).
Key points (4)
- All content of this subtopic, including 845-926-05-1, 845-926-15-1, and 845-926-25-1, was superseded by Accounting Standards Update No. 2014-09.
- No recognition, measurement, presentation, or disclosure requirements remain in ASC 845-926.
- Film-related exchange or barter transactions previously addressed here are now evaluated under the revenue guidance in ASC 606, including its noncash consideration provisions.
- Nonmonetary transactions outside the scope of revenue guidance continue to be governed by the general principles of ASC 845-10.
For students. Cite this subtopic only to explain that legacy film barter/nonmonetary guidance no longer exists; the common mistake is applying the superseded film-specific rules instead of ASC 606's noncash consideration measurement (fair value of noncash consideration at contract inception).
Machine-generated study aid for ASC 845-926. Check the source paragraphs below.
845-926-00Status
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| Paragraph | Action | Accounting Standards Update | Date |
| Revenue | Superseded | Accounting Standards Update No. 2014-09 | 05/28/2014 |
| 926-845-05-1 | Superseded | Accounting Standards Update No. 2014-09 | 05/28/2014 |
| 926-845-15-1 | Superseded | Accounting Standards Update No. 2014-09 | 05/28/2014 |
| 926-845-25-1 | Superseded | Accounting Standards Update No. 2014-09 | 05/28/2014 |
845-926-05Overview and Background
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845-926-15Scope and Scope Exceptions
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845-926-20Glossary
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845-926-25Recognition
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