ASC Topic 924
Entertainment—Casinos
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ASC 924 (Entertainment—Casinos), Subtopic 10 "Overall," gathers the accounting and reporting rules unique to gaming entities and identifies the Topic's other Subtopics—Segment Reporting, Liabilities, Other Expenses, Income Taxes, and Derivatives and Hedging (924-10-05-1); the former Revenue Recognition Subtopic was superseded by ASU 2014-09. It addresses gaming chips, promotional allowances, base jackpots, slot machines, income taxes, and geographic segment disclosure (924-10-05-2), against a background of riverboat, Native American, and internet gaming/sports betting and large destination resorts with substantial hotel, food and beverage, and retail revenue (924-10-05-3 through 05-4). The single most important idea is that this guidance is incremental only: it applies to all entities operating as casinos and to the casino operations of other entities (924-10-15-2), which must still comply with all other applicable GAAP (924-10-15-1).
Subtopics
- 10Overall9 ¶
ASC 924-10 is the Overall subtopic of the Entertainment—Casinos Topic, which collects the accounting and reporting standards unique to the gaming industry. It provides incremental, industry-specific guidance on gaming chips, promotional allowances, base jackpots, slot machines, income taxes, and geographic segment disclosure. Casinos must still apply all other generally applicable GAAP; this Topic only supplements it.