{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/970/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"970","title":"Real Estate—General","area":"Industry","group":"97X Real Estate","subtopics":[{"number":"970-10","topic":"970","title":"Overall","area":"Industry","paragraphs":21,"summary":"ASC 970-10 is the Overall subtopic of the Real Estate—General Topic; it maps the industry's guidance (statement of cash flows, equity method/joint ventures, other assets and deferred costs, PP&E, debt, other expenses, consolidation, interest) and sets the pervasive scope. The Topic supplies only incremental industry-specific guidance and applies to all entities with productive activities relating to real property, excluding property used primarily in the entity's non-real estate operations (970-10-15-3). Its guidance runs in three Subsections: General (real estate ventures, partnerships, joint ventures, tax increment financing entities), Real Estate Syndication (income recognition from syndication activities), and Real Estate Project Costs (acquisition, development, construction, selling and rental costs).","concepts":["real estate project costs","productive activities relating to real property","real estate syndication","preacquisition costs","capitalization of rental and selling costs","real estate ventures and joint ventures","incidental operations","amenities"],"categories":["Industry-specific","Inventory and PP&E","Recognition","Initial measurement"],"level":"intermediate","topic_title":"Real Estate—General","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"970-10-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div><div class=\"norm-text\"><table class=\"asc-table\" id=\"SL51794006-162349\"><tr><td class=\"entry\"><strong class=\"ph b\">Paragraph</strong></td><td class=\"entry\"><strong class=\"ph b\">Action</strong></td><td class=\"entry\"><strong class=\"ph b\">Accounting Standards Update</strong></td><td class=\"entry\"><strong class=\"ph b\">Date</strong></td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><a href=\"/asc/970/10/#970-10-05-1\" class=\"xref\">970-10-05-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2016-02/\" class=\"xref\">Accounting Standards Update No. 2016-02</a></td><td class=\"entry\">02/25/2016</td></tr><tr><td class=\"entry\"><a href=\"/asc/970/10/#970-10-05-1\" class=\"xref\">970-10-05-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/970/10/#970-10-05-2\" class=\"xref\">970-10-05-2</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/970/10/#970-10-15-8\" class=\"xref\">970-10-15-8</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2016-02/\" class=\"xref\">Accounting Standards Update No. 2016-02</a></td><td class=\"entry\">02/25/2016</td></tr><tr><td class=\"entry\"><a href=\"/asc/970/10/#970-10-15-9\" class=\"xref\">970-10-15-9</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/970/10/#970-10-15-10\" class=\"xref\">970-10-15-10</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n970-10-05-1 | Amended | Accounting Standards Update No. 2016-02 | 02/25/2016 |\n970-10-05…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c3a1749ec34bf1fb467697c58eec470529ca851ce74b508f8ee816da8dd6975","downloaded_from":"2026-09-10T02:25:52.021Z","last_downloaded_at":"2026-09-10T02:25:52.021Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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class=\"li-norm\"><span class=\"linum\">a</span> <div class=\"p\">Real Estate—General</div> </li> <li class=\"li-norm\"><span class=\"linum\">b</span> <div class=\"p\">Real Estate—Common Interest Realty Associations</div> </li> <li class=\"li-norm\"><span class=\"linum\">c</span> <div class=\"p\">Real Estate—Real Estate Investment Trusts</div> </li> <li class=\"li-norm\"><span class=\"linum\">d</span> <div class=\"p\">Real Estate—Retail Land</div> </li> <li class=\"li-norm\"><span class=\"linum\">e</span> <div class=\"p\">Real Estate—Time-Sharing Activities.</div> </li> </ol> <a altsource=\"GUID-DEB4A805-0F16-411F-92EA-6269206682D5.ditamap\" class=\"ditamap\">842-40</a> </div> </div>","snippet":"(a) Real Estate—General\n(b) Real Estate—Common Interest Realty Associations\n(c) Real Estate—Real Estate Investment Trusts\n(d) Real Estate—Retail Land\n(e) Real Estate—Time-Sharing Activities.\n842-40","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a471efaf5e91d38f65e70e854ed40a9e38e7ab2f57fcc5ab9d606afbf037f68b","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}},{"citation":"970-10-05-2","para":"05-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Real Estate—General Topic provides general real estate industry guidance, and includes the following Subtopics:<ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\">Overall</div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\">Statement of Cash Flows</div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Subparagraph superseded by Accounting Standards Update No. 2014-09</a>.</div></li><li class=\"li-norm\"><span class=\"linum\">d</span><div class=\"p\">Investments—Equity Method and Joint Ventures</div></li><li class=\"li-norm\"><span class=\"linum\">e</span><div class=\"p\">Other Assets and Deferred Costs</div></li><li class=\"li-norm\"><span class=\"linum\">f</span><div class=\"p\">Property, Plant, and Equipment</div></li><li class=\"li-norm\"><span class=\"linum\">g</span><div class=\"p\">Debt</div></li><li class=\"li-norm\"><span class=\"linum\">h</span><div class=\"p\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Subparagraph superseded by Accounting Standards Update No. 2014-09</a>.</div></li><li class=\"li-norm\"><span class=\"linum\">i</span><div class=\"p\">Other Expenses</div></li><li class=\"li-norm\"><span class=\"linum\">j</span><div class=\"p\">Consolidation</div></li><li class=\"li-norm\"><span class=\"linum\">k</span><div class=\"p\">Interest.</div></li></ol></div> </div>","snippet":"The Real Estate—General Topic provides general real estate industry guidance, and includes the following Subtopics:\n(a) Overall\n(b) Statement of Cash Flows\n(c) Subparagraph superseded by Accounting Standards Update No. 2…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d0a0e3e2b7c37c861c9de243a11c325a2aaa3a9418c1efb3bea65397732974b3","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}},{"citation":"970-10-05-3","para":"05-3","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance throughout this Topic is presented in the following Subsections: <ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\">General</div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\">Real Estate Syndication</div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\">Real Estate Projects.</div></li></ol></div> </div>","snippet":"The guidance throughout this Topic is presented in the following Subsections:\n(a) General\n(b) Real Estate Syndication\n(c) Real Estate Projects.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b7aacc86ae25369fae4a26581bef760398cb67627d83e70fdc97db74228d03ed","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}},{"citation":"970-10-05-4","para":"05-4","html":"<div class=\"asc-body\"><div class=\"norm-text\">The General Subsections provide accounting guidance concerning various forms of real estate investment, including real estate ventures, general and limited partnerships, corporate joint ventures and tax increment financing entities. They also provide investor-lender guidance concerning interest on loans or advances to a <a href=\"/glossary/r/#real-estate-venture\" class=\"term\" title=\"Any of the following: a joint venture, a general partnership, a limited partnership, and an undivided interest.\"><span>real estate venture</span></a>. See Section <a altsource=\"GUID-9256E714-8E51-486E-816B-C84CE8CAFA48.ditamap\" class=\"ditamap\">272-10-05</a> regarding limited liability companies.</div> </div>","snippet":"The General Subsections provide accounting guidance concerning various forms of real estate investment, including real estate ventures, general and limited partnerships, corporate joint ventures and tax increment financi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f1d708bdcb39bd9d832b7f1496082b015325d6c77a6803e235b5929290ad5fb7","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6ffaa3c26648aeb7108e4bba2808aea6474ad77437d43ef6ea0cd04d7b1da395","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}},{"block":"Real Estate Syndication","heading":null,"paragraphs":[{"citation":"970-10-05-5","para":"05-5","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Real Estate Syndication Subsections provide accounting guidance concerning the recognition of income from real estate <a href=\"/glossary/s/#syndication-activities\" class=\"term\" title=\"Efforts to directly or indirectly sponsor the formation of entities that acquire interests in real estate by raising funds from investors. As consideration for their investments, the investors receive ownership or other financial interests in the sponsored entities. All general partners in syndicated partnerships are deemed to perform syndication activities.\"><span>syndication activities</span></a>.</div></div>","snippet":"The Real Estate Syndication Subsections provide accounting guidance concerning the recognition of income from real estate syndication activities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8873b8a44bfe233a5d913f514ac8fcc2640529d9840f05ea0c9fd3ca763d0473","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bef4a0a407bd68de0ff76123c1498075ec3c9f65eb3236c854acd20129453c74","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}},{"block":"Real Estate Project Costs","heading":null,"paragraphs":[{"citation":"970-10-05-6","para":"05-6","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_24A5FE16-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The Real Estate <a href=\"/glossary/p/#project-costs\" class=\"term\" title=\"Costs clearly associated with the acquisition, development, and construction of a real estate project.\"><span>Project Costs</span></a> Subsections establish accounting and reporting standards for acquisition, development, construction, selling, and rental costs associated with real estate projects. They also provide guidance for the accounting for initial rental operations and criteria for determining when the status of a rental project changes from nonoperating to operating. </span></span></div></div>","snippet":"The Real Estate Project Costs Subsections establish accounting and reporting standards for acquisition, development, construction, selling, and rental costs associated with real estate projects. They also provide guidanc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b3ed82bf161d0824bb405b1c62cbf3281f8a16ea20d7d642b676c240006e5be4","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:112ca0c0e4e0b9b685879b52bf80f241b1776fbfabd99ccd0358836cfa52429c","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e33cd93f956931ac0d7e3c2c97bf78c8058b9dff9cd1f9ee8a91ce4480a7cab4","downloaded_from":"2026-09-10T02:25:55.847Z","last_downloaded_at":"2026-09-10T02:25:55.847Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482170","source_sha256":"e0a94aa081af0bc3f9981a7fc8dbe25039d42a4d8e302f95bc2fe3da5de39b48"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"970-10-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Subtopics within the Real Estate—General 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 Subtopics. Entities within the scope of this Topic shall also comply with the applicable guidance not included in this Topic.</div></div>","snippet":"The Subtopics within the Real Estate—General 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 Subtopi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2e5d99c9ff195254e9169775cd2e5aa8bc09ce0f22d3b9b920e3a2488954677f","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"citation":"970-10-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">The General Subsection of this Section establishes the pervasive scope for this Subtopic, with specific qualifications noted in the other Subsections of this Section.</div></div>","snippet":"The General Subsection of this Section establishes the pervasive scope for this Subtopic, with specific qualifications noted in the other Subsections of this Section.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5ffff8f319b5737d2068e4b36a921d06e8a018ef0b57662d353389efc07bc2cb","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1bc48f0416abca01a5e75b060fb1f7465073a8538a2bdd3b961eb015f6141d04","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"970-10-15-3","para":"15-3","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in this Topic applies to all entities with productive activities relating to real property, excluding property used primarily in the entity's non-real estate operations.</div></div>","snippet":"The guidance in this Topic applies to all entities with productive activities relating to real property, excluding property used primarily in the entity's non-real estate operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:540f9ddcd81eb4d25747828772028dad751a382c6c1022e3e6cd33a688166d64","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bf1e2bbc411df6d51dede95e77bb2dbf4bb0324658a8a87a8bedd139236f2602","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"block":"Real Estate Syndication","heading":"Overall Guidance","paragraphs":[{"citation":"970-10-15-4","para":"15-4","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Real Estate Syndication Subsections follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Subtopic, see the <a href=\"/asc/970/10/#15-scope-and-scope-exceptions\" class=\"xref\">General Subsection</a>of Section 970-10-15, with specific qualifications noted below.</div></div>","snippet":"The Real Estate Syndication Subsections follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Subtopic, see the General Subsectionof Section 970-10-15, with specific qualifications note…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b632fad1a735c828c819cdecb76dbedd07fd4e7beaf8c9dd5fd17d92a415baf4","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:772c456aef7e99c1fca63d8ad8751bedaf98a070d564ed67565d1fb3c5e0bc07","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"block":"Real Estate Syndication","heading":"Entities","paragraphs":[{"citation":"970-10-15-5","para":"15-5","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in this Topic applies to all entities with productive activities relating to real property, excluding property used primarily in the entity's non-real estate operations.</div></div>","snippet":"The guidance in this Topic applies to all entities with productive activities relating to real property, excluding property used primarily in the entity's non-real estate operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:639695fb239c4edee29f3230bc9a40211c705339ae5655c9590a1731e0ae9949","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f192a76277b28721a450d35ac12424322165423bb3017821aadde6f6f034e7f3","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"block":"Real Estate Project Costs","heading":"Overall Guidance","paragraphs":[{"citation":"970-10-15-6","para":"15-6","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Real Estate <a href=\"/glossary/p/#project-costs\" class=\"term\" title=\"Costs clearly associated with the acquisition, development, and construction of a real estate project.\"><span>Project Costs</span></a> Subsections follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Subtopic, see the <a href=\"/asc/970/10/#15-scope-and-scope-exceptions\" class=\"xref\">General Subsection</a> of Section 970-10-15, with specific qualifications noted below.</div> </div>","snippet":"The Real Estate Project Costs Subsections follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Subtopic, see the General Subsection of Section 970-10-15, with specific qualifications n…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1016332e79b4b4b7b61944636f93e780dcd2306954743e5ba71c5a8438de051a","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:47d00451d579ea0f4e05b330b4433de9587a70d5b5d1ba984af036089e995780","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"block":"Real Estate Project Costs","heading":"Entities","paragraphs":[{"citation":"970-10-15-7","para":"15-7","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Real Estate Project Costs Subsections applies to all entities with productive activities relating to real property, excluding property used primarily in the entity's non-real estate operations.</div> </div>","snippet":"The guidance in the Real Estate Project Costs Subsections applies to all entities with productive activities relating to real property, excluding property used primarily in the entity's non-real estate operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:31254acb0acaba6ab4010f79991fa4f9610a109b61c5cb8161c2d74803d8206e","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2081cd73e806b50c9e79d9d133dabf08ddac255e59f40c8775a1b3c5ed043347","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"block":"Real Estate Project Costs","heading":"Transactions","paragraphs":[{"citation":"970-10-15-8","para":"15-8","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_24E1D731-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The guidance in the Real Estate Project Costs Subsections does not apply to the following transactions and activities: </span></span> <ol class=\"ol-norm\"> <li class=\"li-norm\"><span class=\"linum\">a</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1D811-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Real estate developed by an entity for use in its own operations, other than for sale or rental. </span></span> <span class=\"sfragment\" id=\"sfr_24E1D8E7-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">In this context, real estate developed by a member of a consolidated group for use in the operations of another member of the group (for example, a manufacturing facility developed by a subsidiary for use in its parent's operations) when the property is reported in the group's consolidated financial statements. </span></span> <span class=\"sfragment\" id=\"sfr_24E1D9B8-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">However, this does not include property reported in the separate financial statements of the entity that developed it. </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">b</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1DA8C-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Initial direct costs of leases, which are defined in Topic <a altsource=\"GUID-EFFBD456-3862-4F38-9F32-420717B43DE5.ditamap\" class=\"ditamap\">842</a>. The accounting for initial direct costs of leases is prescribed in that Topic. </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">c</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1DB5E-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Costs directly related to manufacturing, merchandising, or service activities as distinguished from real estate activities. </span></span> </div> </li> </ol> </div> </div>","snippet":"The guidance in the Real Estate Project Costs Subsections does not apply to the following transactions and activities:\n(a) Real estate developed by an entity for use in its own operations, other than for sale or rental. …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a22409e2cc1c10b6fb5d6a7ad243399476aa959aa9e95496e0b3550f7e5593e9","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"citation":"970-10-15-9","para":"15-9","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_24E1DC46-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Paragraphs <div class=\"xref-range displayInline\"><a href=\"/asc/340/970/#340-970-25-16\" class=\"xref\">970-340-25-16 through 25-19</a></div> and <a href=\"/asc/340/970/#340-970-35-2\" class=\"xref\">970-340-35-2</a> do not apply to real estate rental activity in which the predominant rental period is less than one month. </span></span> </div> </div>","snippet":"Paragraphs 970-340-25-16 through 25-19 and 970-340-35-2 do not apply to real estate rental activity in which the predominant rental period is less than one month.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:18181fbbdab385c2ae7857eb7ef31f8ccd4877d96efea93b70f90662d1e15b2a","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"citation":"970-10-15-10","para":"15-10","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Paragraph superseded by Accounting Standards Update No. 2014-09</a>.</div> </div>","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d836d30378a840635fc855dbdf415c45b8ba8e52c09abab760114ce8acc9bf2b","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}},{"citation":"970-10-15-11","para":"15-11","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_24E1DD1B-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This Subsection specifies the accounting for the following as they relate to real estate projects: </span></span> <ol class=\"ol-norm\"> <li class=\"li-norm\"><span class=\"linum\">a</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1DDFA-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> <a href=\"/glossary/p/#preacquisition-costs\" class=\"term\" title=\"Costs related to a property that are incurred for the express purpose of, but prior to, obtaining that property. Examples of preacquisition costs may be costs of surveying, zoning or traffic studies, or payments to obtain an option on the property.\"><span>Preacquisition costs</span></a> </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">b</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1DECA-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Taxes and insurance </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">c</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1DF96-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Project costs </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">d</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1E06A-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> <a href=\"/glossary/a/#amenities\" class=\"term\" title=\"Features that enhance the attractiveness or perceived value of a time-sharing interval. Examples of amenities include golf courses, utility plants, clubhouses, swimming pools, tennis courts, indoor recreational facilities, and parking facilities. See also Promised Amenities.\"><span>Amenities</span></a> </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">e</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1E13C-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> <a href=\"/glossary/i/#incidental-operations\" class=\"term\" title=\"Revenue-producing activities engaged in during the holding or development period to reduce the cost of developing the property for its intended use, as distinguished from activities designed to generate a profit or a return from the use of the property.\"><span>Incidental operations</span></a> </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">f</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1E20F-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Allocation of capitalized costs to components of a real estate project </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">g</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1E2E8-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Revisions of estimates </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">h</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1E3B9-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Abandonments and changes in use </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">i</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1E47E-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Selling costs </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">j</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1E547-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Rental costs </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">k</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_24E1E611-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Reductions in the carrying amounts of real estate assets prescribed by the Impairment or Disposal of Long-Lived Assets Subsections of Subtopic <a altsource=\"GUID-709FAAEC-8DFC-4054-A41F-EFA6FC5A716C.ditamap\" class=\"ditamap\">360-10</a>. </span></span> </div> </li> </ol> </div> </div>","snippet":"This Subsection specifies the accounting for the following as they relate to real estate projects:\n(a) Preacquisition costs\n(b) Taxes and insurance\n(c) Project costs\n(d) Amenities\n(e) Incidental operations\n(f) Allocation…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:76a55c8aeb8a2cedbcf4e32ffc2f204d24222c46eaae2a091b802f190908ec28","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482141","source_sha256":"2288f3690d0b509dfd5db550ed2ce41784f73d0762346b5f1c9e56718a8df5d5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:089a2e4c91a3a8d059227dfb9bdb039a40d494bed4ae3ff0f3f09650f15d87d1","downloaded_from":"2026-09-10T02:25:59.069Z","last_downloaded_at":"2026-09-10T02:25:59.069Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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id=\"sfr_24F4336E-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">See paragraph <a href=\"/asc/310/948/#310-948-S99-1\" class=\"xref\">948-310-S99-1</a>, Regulation S-X, Rule 12-29, for the required supplemental schedule disclosing mortgage loans on real estate. </span></span></div></div>","snippet":"See paragraph 948-310-S99-1, Regulation S-X, Rule 12-29, for the required supplemental schedule disclosing mortgage loans on real estate.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b157399c50eed19fc90d9af9a62926f98b24c83fda5ae0932cdd8a5a2ae374fb","downloaded_from":"2026-09-10T02:26:08.366Z","last_downloaded_at":"2026-09-10T02:26:08.366Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479590","source_sha256":"d4802c511b4a0370d66e324bf277952cc3f103009b29a670d79660c7f9d03a6c"}},{"citation":"970-10-S50-2","para":"S50-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_24F4347D-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">See paragraph <a href=\"/asc/970/10/#970-10-S99-1\" class=\"xref\">970-10-S99-1</a>, SAB Topic 7.C, for SEC Staff views on the inclusion of certain supplemental schedules in annual reports. </span></span></div></div>","snippet":"See paragraph 970-10-S99-1, SAB Topic 7.C, for SEC Staff views on the inclusion of certain supplemental schedules in annual reports.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d0c5e7bd5521f8cadbf79f1ae33eadd28c1a925110a2597898a6ba419042e26f","downloaded_from":"2026-09-10T02:26:08.366Z","last_downloaded_at":"2026-09-10T02:26:08.366Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479590","source_sha256":"d4802c511b4a0370d66e324bf277952cc3f103009b29a670d79660c7f9d03a6c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:abd01c678f88e95dc47aff5f469ca18136451879d70e71812e84c70b3d8e0a86","downloaded_from":"2026-09-10T02:26:08.366Z","last_downloaded_at":"2026-09-10T02:26:08.366Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not 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the text of SAB Topic 7.C, Schedules of Real Estate and Accumulated Depreciation, and of Mortgage Loans on Real Estate.<ul class=\"ul simple\" id=\"d3e637787-123022__GUID-37A14ABA-3D09-4217-AD97-0898CD916825\"><li class=\"li\" id=\"d3e637787-123022__SL6496645-123022\"><div class=\"p\"><span class=\"sfragment\" id=\"sfr_24FC7CE2-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">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. </span></span></div></li><li class=\"li\" id=\"d3e637787-123022__SL6496646-123022\"><div class=\"p\"><span class=\"sfragment\" id=\"sfr_24FC7DF3-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Question: Is such information also required in annual reports to shareholders? </span></span></div></li><li class=\"li\" id=\"d3e637787-123022__SL6496647-123022\"><div class=\"p\"><span class=\"sfragment\" id=\"sfr_24FC7F0A-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">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. </span></span></div></li></ul></div></div>","snippet":"The following is the text of SAB Topic 7.C, Schedules of Real Estate and Accumulated Depreciation, and of Mortgage Loans on Real Estate.\nFacts: Whenever investments in real estate or mortgage loans on real estate are sig…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0469354bd295a7eafe25e8233d4732310293ef793813173e64cee692b2921f53","downloaded_from":"2026-09-10T02:26:12.373Z","last_downloaded_at":"2026-09-10T02:26:12.373Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479561","source_sha256":"c073a9be1fd7b8de74e87e395bd3120f9a7dc76a6a24f44400cea8dad406582c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c2f824193575284e48c327399f9f60fea4e8fd05859f59c018a206a77b1a4d62","downloaded_from":"2026-09-10T02:26:12.373Z","last_downloaded_at":"2026-09-10T02:26:12.373Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not 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the pervasive scope. The Topic supplies only incremental industry-specific guidance and applies to all entities with productive activities relating to real property, excluding property used primarily in the entity's non-real estate operations (970-10-15-3). Its guidance runs in three Subsections: General (real estate ventures, partnerships, joint ventures, tax increment financing entities), Real Estate Syndication (income recognition from syndication activities), and Real Estate Project Costs (acquisition, development, construction, selling and rental costs).","key_points":["Entities in the scope of this Topic must also comply with all other applicable GAAP; the Topic supplies only incremental industry-specific guidance (970-10-15-1).","Scope covers all entities with productive activities relating to real property but excludes property used primarily in the entity's non-real estate operations (970-10-15-3, 15-5, 15-7).","The Real Estate Project Costs Subsections do not apply to real estate developed by an entity for use in its own operations (other than for sale or rental), initial direct costs of leases (governed by Topic 842), or costs directly related to manufacturing, merchandising, or service activities (970-10-15-8).","Paragraphs 970-340-25-16 through 25-19 and 970-340-35-2 do not apply to real estate rental activity in which the predominant rental period is less than one month (970-10-15-9).","The Project Costs Subsections address preacquisition costs, taxes and insurance, project costs, amenities, incidental operations, cost allocation to project components, revisions of estimates, abandonments and changes in use, selling costs, rental costs, and impairment write-downs under the Subtopic 360-10 Impairment or Disposal of Long-Lived Assets Subsections (970-10-15-11).","The General Subsections cover real estate ventures, general and limited partnerships, corporate joint ventures, tax increment financing entities, and investor-lender accounting for interest on loans or advances to a real estate venture (970-10-05-4); limited liability companies are addressed at 272-10-05.","Several former subtopics and paragraphs (e.g., 970-10-05-2(c) and (h), 970-10-15-10) were superseded by ASU 2014-09, moving real estate sales revenue into Topic 606."],"categories":["Industry-specific","Inventory and PP&E","Recognition","Initial measurement"],"audience_level":"intermediate","student_note":"This subtopic is mostly a roadmap and scope gate—know what it excludes (owner-occupied development, lease initial direct costs under 842, non-real-estate manufacturing/service costs) before applying the capitalization rules in 970-340 and 970-360. A common misunderstanding is thinking 970 is a self-contained rulebook; it is only incremental guidance layered on top of general GAAP, and ASU 2014-09 pulled real estate sales recognition out into Topic 606.","related_topics":["970-340","970-360","970-323","360-10","606","842"],"key_concepts":["real estate project costs","productive activities relating to real property","real estate syndication","preacquisition costs","capitalization of rental and selling costs","real estate ventures and joint ventures","incidental operations","amenities"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7776a9765161a89bfecb1772659662d710bdea4e799cf14e25fa46f46485290d","downloaded_from":"2026-09-10T02:25:52.021Z","last_downloaded_at":"2026-09-10T02:26:12.373Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"360-970","title":"Real Estate—General","topic_title":"Property, Plant, and Equipment","score":0.8561,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b366661b5c4666b3ea3e16817c90087fde8009977bc3aae5d7b17657a37fd5ad","downloaded_from":"2026-09-10T00:11:50.248Z","last_downloaded_at":"2026-09-10T00:12:34.852Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"974-10","title":"Overall","topic_title":"Real Estate—Real Estate Investment Trusts","score":0.8064,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3173163ebaf6e72809f58ee3a0f818066d674f2c88c31579845d48c6ced3e826","downloaded_from":"2026-09-10T02:26:25.491Z","last_downloaded_at":"2026-09-10T02:26:47.600Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"976-10","title":"Overall","topic_title":"Real Estate—Retail Land","score":0.794,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:22b8e279170bcde30bd5d13fe6b47da5630b00f836be83a81e671f8630d20ca9","downloaded_from":"2026-09-10T02:26:50.000Z","last_downloaded_at":"2026-09-10T02:26:59.868Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"323-970","title":"Real Estate—General","topic_title":"Investments—Equity Method and Joint Ventures","score":0.7778,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ec5aa64aa9898c1a8db4e0e520ae8353998182f8cb47f2677e431e0bbfd3f555","downloaded_from":"2026-09-09T23:42:35.809Z","last_downloaded_at":"2026-09-09T23:43:01.427Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"310-948","title":"Financial Services—Mortgage Banking","topic_title":"Receivables","score":0.7644,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:72ff0f38d68a7f6fd9828307378cbe93e898f96bd8c52488e13a5ca720fcc07f","downloaded_from":"2026-09-09T23:30:42.417Z","last_downloaded_at":"2026-09-09T23:31:26.845Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"972-10","title":"Overall","topic_title":"Real Estate—Common Interest Realty Associations","score":0.7629,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:05d8b99d1e55cdbe48eaa36e279a2d434b1d6441545b50c823c5ed73e09c3965","downloaded_from":"2026-09-10T02:26:14.164Z","last_downloaded_at":"2026-09-10T02:26:21.543Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"965-40","title":"Terminating Plans","topic_title":"Plan Accounting—Health and Welfare Benefit Plans","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:98face9431404b946e2130bb7eb620d8b345240d5a37646e3e2f3fc24886e9ac","downloaded_from":"2026-09-10T02:25:30.319Z","last_downloaded_at":"2026-09-10T02:25:49.530Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"972-10","title":"Overall","topic_title":"Real Estate—Common Interest Realty Associations","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b5bac231594fccc06153defa7f239259804ae2f056d1a4b3bdb1a8100c0a515","downloaded_from":"2026-09-10T02:26:14.164Z","last_downloaded_at":"2026-09-10T02:26:21.543Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:819aca8f76ed447ae68869e3ad5bccd8a831e247036ee7ed9d195ebbb9334c4d","downloaded_from":"2026-09-10T02:25:52.021Z","last_downloaded_at":"2026-09-10T02:26:12.373Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"paragraphs":21,"summary":"ASC 970 is the Real Estate—General industry Topic, and its Overall subtopic (970-10) simply maps where the industry guidance lives (cash flows, equity method/joint ventures, other assets and deferred costs, PP&E, debt, other expenses, consolidation, interest) and fixes the scope. The critical framing idea is that the Topic is only incremental: entities with productive activities relating to real property must apply all other applicable GAAP and look to ASC 970 only for industry-specific add-ons (970-10-15-1), and property used primarily in an entity's non-real estate operations is outside the scope (970-10-15-3). The guidance splits into three Subsections—General (real estate ventures, general and limited partnerships, corporate joint ventures, tax increment financing entities, investor-lender interest on loans/advances), Real Estate Syndication (income recognition), and Real Estate Project Costs (preacquisition, taxes and insurance, project costs, amenities, incidental operations, cost allocation, revisions of estimates, abandonments and changes in use, selling and rental costs, and impairment write-downs under the Subtopic 360-10 Impairment or Disposal of Long-Lived Assets Subsections) (970-10-05-4; 970-10-15-11). Students should also note the carve-outs in 970-10-15-8 and 15-9 and that ASU 2014-09 superseded the old real estate sales revenue guidance, moving it into Topic 606.","concepts":["incremental industry-specific guidance","productive activities relating to real property","real estate project costs","real estate ventures and joint ventures","real estate syndication income","capitalization of preacquisition, selling and rental costs","impairment under subtopic 360-10"],"categories":["Industry-specific","Inventory and PP&E","Recognition","Impairment"],"level":"intermediate","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c0389f1224470082fc4a12d27f9b8a4a0c4378fecdfa8a580200caaeb8b8d0ce","downloaded_from":"2026-09-10T02:25:52.021Z","last_downloaded_at":"2026-09-10T02:26:12.373Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}