# ASC 970-10-S99: Real Estate—General — Overall — SEC 99 SEC Materials

Source: FASB Accounting Standards Codification, Basic View

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## ASC 970-10-S99: SEC 99 SEC Materials

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#### SEC Staff Guidance

##### [970-10-S99-1](https://asc.understandingaccounting.org/asc/970/10/#970-10-S99-1)

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The following is the text of SAB Topic 7.C, Schedules of Real Estate and Accumulated Depreciation, and of Mortgage Loans on Real Estate.

-   Facts: Whenever investments in real estate or mortgage loans on real estate are significant, the schedules of such items (see Rules 12-28 and 12-29 of Regulation S-X) are required in a prospectus.
    
-   Question: Is such information also required in annual reports to shareholders?
    
-   Interpretive Response: Although Rules 14a-3 and 14c-3 permit the omission of financial statement schedules from annual reports to shareholders, the staff is of the view that the information required by these schedules is of such significance within the real estate industry that the information should be included in the financial statements in the annual report to shareholders.