ASC

ASC 915-10

Overall

915 Development Stage Entities

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In brief

IntermediateTransition and effective datesFinancial statement presentationConsolidationIndustry-specific

ASC 915-10 formerly set out the "Overall" guidance for development stage entities — entities devoting substantially all efforts to establishing a new business that had no principal operations or no significant revenue. All of its substantive content (scope, background, and the transition paragraph) was superseded by ASU 2014-10, which eliminated the incremental reporting requirements for development stage entities; the transition guidance in 915-10-65-1 was itself superseded on 06/23/2016 after the transition period ended. The subtopic is now an empty shell with no operative U.S. GAAP requirements.

Key points (5)
  • Paragraphs 915-10-05-1 and 05-2 (overview and background) were superseded by ASU 2014-10.
  • The scope and scope exceptions in 915-10-15-1 through 15-5 were superseded by ASU 2014-10, so no entity is now within the scope of Topic 915.
  • Transition paragraph 915-10-65-1 was superseded on 06/23/2016 after the end of the ASU 2014-10 transition period.
  • ASU 2014-10 eliminated the incremental development-stage reporting requirements (such as inception-to-date cumulative amounts and labeling as a development stage entity) and also amended the variable interest entity guidance in Topic 810.
  • Entities formerly reporting as development stage entities now apply the same recognition, measurement, and presentation guidance as other reporting entities.

For students. Know that Topic 915 is dead letter: development stage entities no longer get (or must provide) special inception-to-date disclosures. The common misunderstanding is assuming start-ups still label themselves "a development stage entity" or present cumulative-since-inception columns; ASU 2014-10 removed those requirements and also changed how the VIE sufficiency-of-equity analysis under Topic 810 applies to development stage entities.

development stage entitysuperseded guidanceinception-to-date informationvariable interest entitytransition period

Machine-generated study aid for ASC 915-10. Check the source paragraphs below.

915-10-00Status

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915-10-00-1
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Development Stage Entity Superseded Accounting Standards Update No. 2014-10 06/10/2014
Investee Superseded Accounting Standards Update No. 2014-10 06/10/2014
Public Business Entity Amended Maintenance Update 2016-11 (PDF) 06/27/2016
Public Business Entity Added Accounting Standards Update No. 2014-10 06/10/2014
Research and Development Superseded Accounting Standards Update No. 2014-10 06/10/2014
Subsidiary Superseded Accounting Standards Update No. 2014-10 06/10/2014
915-10-05-1 Superseded Accounting Standards Update No. 2014-10 06/10/2014
915-10-05-2 Superseded Accounting Standards Update No. 2014-10 06/10/2014
915-10-15-1 through 15-5 Superseded Accounting Standards Update No. 2014-10 06/10/2014
915-10-65-1 Added Accounting Standards Update No. 2014-10 06/10/2014

915-10-05Overview and Background

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915-10-15Scope and Scope Exceptions

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915-10-65Transition and Open Effective Date Information

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915-10-65-1
Paragraph superseded on 06/23/2016 after the end of the transition period stated in Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation.

Related subtopics