ASC

ASC 920-10

Overall

920 Entertainment—Broadcasters

Download JSONDownload Markdown6 paragraphs · 3 sectionsJump to summary

Source downloaded: .Record version cf57be652567. Effective date must be checked in the source.

In brief

IntroductoryIndustry-specificIntangibles and goodwillContingencies and guarantees

ASC 920-10 is the Overall subtopic of the Entertainment—Broadcasters Topic, which sets out industry-specific financial accounting and reporting standards for broadcasters. It is incremental guidance only: broadcasters must also apply all other applicable GAAP (920-10-15-1). The Topic covers all entities considered broadcasters and all their transactions, including network affiliation agreements, but excludes broadcasters that own the film (program material) they show, which instead follow ASC 926 (920-10-15-2, 15-3).

Key points (5)
  • ASC 920 presents standards of financial accounting and reporting for broadcasters (920-10-05-1).
  • The Topic is organized into Subtopics including Overall, Intangibles—Goodwill and Other, Liabilities, and Commitments; several former subparagraphs were superseded by ASU 2014-09 (920-10-05-2).
  • Guidance in ASC 920 is incremental industry-specific guidance; entities within scope must also comply with all applicable standards outside this Topic (920-10-15-1).
  • The Topic applies to all entities considered broadcasters, except broadcasters that own the film (program material) shown on their cable, network, or local television outlets, which apply Topic 926 (920-10-15-2).
  • The Topic applies to all transactions and activities of broadcasters, including network affiliation agreements (920-10-15-3).

For students. Remember that ASC 920 is a scope-and-overview subtopic: it adds industry rules on top of, never in place of, general GAAP. The classic trap is the ASC 926 carve-out — a broadcaster that owns the program material it airs accounts for that film under Entertainment—Films, not under 920.

broadcasterprogram materialnetwork affiliation agreementincremental industry-specific guidancelicense agreements for program materialscope exception

Machine-generated study aid for ASC 920-10. Check the source paragraphs below.

920-10-00Status

Source downloaded: .Record version c102e1c04516. Effective date must be checked in the source.

920-10-00-1
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
BarterSupersededAccounting Standards Update No. 2014-0905/28/2014
920-10-05-2AmendedAccounting Standards Update No. 2014-0905/28/2014
920-10-15-3AmendedAccounting Standards Update No. 2014-0905/28/2014

920-10-05Overview and Background

Source downloaded: .Record version bc17a4fe334c. Effective date must be checked in the source.

920-10-05-1
The Entertainment—Broadcasters Topic presents standards of financial accounting and reporting for broadcasters.

920-10-15Scope and Scope Exceptions

Source downloaded: .Record version a7c3c7dca44e. Effective date must be checked in the source.

Overall Guidance

920-10-15-1
The Subtopics within the Entertainment—Broadcasters Topic only provide incremental industry-specific guidance for the entities defined in this Scope Section, or as further defined in the Scope Sections of the individual Entertainment—Broadcasters Subtopics. Entities within the scope of this Topic also shall comply with the applicable standards not included in this Topic.

Entities

920-10-15-2
The guidance in the Entertainment—Broadcasters Topic applies to all entities that are considered broadcasters, with the following exception:
  1. a
    Broadcasters that own the film (program material) shown on their cable, network, or local television outlets (for guidance see Topic 926).

Transactions

920-10-15-3
The guidance in the Entertainment—Broadcasters Topic applies to all transactions and activities including the following:
  1. a
    Network affiliation agreements.

Related subtopics