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Paragraph Action Accounting Standards Update Date
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985-845-05-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
985-845-15-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
985-845-15-2 Superseded Accounting Standards Update No. 2014-09 05/28/2014
985-845-25-1 through 25-7
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985-845-55-1 through 55-8
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Every paragraph in this subtopic — scope, recognition, and implementation guidance — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). The subtopic therefore contains no operative guidance; nonmonetary consideration in software arrangements is now addressed under ASC 606 (noncash consideration) and general nonmonetary guidance in ASC 845-10.","key_points":["All content of 845-985 (paragraphs 845-985-05-1, 15-1 through 15-2, 25-1 through 25-7, and 55-1 through 55-8) is marked 'Paragraph superseded by Accounting Standards Update No. 2014-09,' leaving no effective guidance in the subtopic.","Because the legacy software-specific nonmonetary exchange guidance was withdrawn, entities apply ASC 606 to revenue arrangements settled in noncash consideration, measuring such consideration at fair value under 606-10-32-21 through 32-24.","General nonmonetary exchange principles (fair value measurement, commercial substance exception) remain in ASC 845-10; the software carve-out no longer exists.","The superseded status is a transition artifact: entities that had not yet adopted ASU 2014-09 previously looked here, but for all current periods the guidance is inoperative.","Related legacy software revenue guidance in ASC 985-605 was likewise superseded by ASU 2014-09, so no residual software-specific barter model survives."],"categories":["Revenue","Transition and effective dates","Industry-specific","Fair value"],"audience_level":"intermediate","student_note":"Know that this subtopic is entirely superseded by ASU 2014-09 — citing it as live authority is the classic error; software barter transactions now fall under ASC 606's noncash consideration rules and ASC 845-10's general nonmonetary principles.","related_topics":["606","845-10","985-605","340-40","820"],"key_concepts":["nonmonetary transaction","barter exchange of software","noncash consideration","superseded guidance","revenue recognition","commercial substance","fair value 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