industry-specific guidance

ASC 205-905 addresses presentation of financial statements for entities in the agricultural industry, with separate Cooperatives Subsections for agricultural cooperatives. Its scope mirrors that of ASC 905-10-15 (General and Cooperatives Subsections). Its only substantive presentation rule permits agricultural cooperatives to label earnings using alternative terms such as margins, net proceeds, or savings (205-905-45-1).

ASC 225-912 formerly provided income statement presentation guidance for contractors with the federal government (a subtopic of the legacy Income Statement topic). Every paragraph in the subtopic — Overview and Background (05), Scope (15), and Other Presentation Matters (45) — was superseded by Maintenance Update 2017-19, so the subtopic contains no operative guidance. Presentation questions for federal government contractors are now addressed under the revenue and other applicable topics rather than here.

ASC 225-946 was the industry-specific income statement guidance for investment companies, but every paragraph in it (Sections 05, 15, 45, and 50) was superseded by Maintenance Update 2017-19. The subtopic is now an empty shell with no operative guidance; the substantive requirements for an investment company's statement of operations were relocated to (and remain in) ASC 946, Financial Services—Investment Companies. Readers encountering a citation to 225-946 should redirect to ASC 946-225.

ASC 235-912 formerly provided accounting-policy disclosure guidance in the notes to financial statements for entities contracting with the federal government. All of its content (paragraphs 235-912-05-1, 15-1 and 50-1) was superseded by ASU 2014-09, the revenue recognition standard, so the subtopic now carries no operative guidance.

ASC 280-908 is the airlines-industry subtopic of the segment reporting topic, but it contains no substantive guidance — its Overview/Background, Scope, and Other Presentation Matters sections are all marked "Section not used." Airlines therefore apply the general segment reporting requirements of ASC 280-10 (operating segments, aggregation criteria, reportable segment thresholds, and entity-wide disclosures) without any airline-specific modification in this subtopic.

ASC 305-946 was the investment-company-specific guidance on cash and cash equivalents. Every remaining paragraph (05-1, 15-1, 45-1, 45-2) was superseded by Maintenance Update 2017-21, so the subtopic contains no substantive guidance today. Investment companies now look to the general cash guidance in ASC 305 and to the presentation and disclosure requirements in ASC 946.

ASC 310-910 was the industry-specific guidance on receivables of construction contractors (classification and disclosure of contract receivables, retainage, and unbilled amounts). Every paragraph in the subtopic has been superseded — the presentation and disclosure paragraphs by ASU 2014-09 (the revenue standard) and the remainder by Maintenance Update No. 2019-01. As a result, the subtopic now contains no substantive guidance; contract asset, contract receivable, and retainage questions for contractors are addressed under ASC 606 (and ASC 326 for credit losses).

ASC 310-940 is a "link" subtopic: it contains no substantive accounting guidance of its own. It simply directs readers looking for guidance on receivables of brokers and dealers in securities to other locations in the Codification — specifically, Subtopic 940-325 for receivables arising as part of a financial-restructuring transaction (310-940-05-2).

ASC 320-954 was the health care entities industry supplement to the debt securities guidance in Topic 320, addressing scope, subsequent measurement, presentation (including where unrealized gains and losses appear in a health care entity's performance indicator) and related implementation examples. Every paragraph in the subtopic — Sections 05, 15, 35, 45 and 55 — was superseded by Accounting Standards Update No. 2016-01. As a result the subtopic contains no operative guidance; health care entities look instead to Topic 320 as amended and to Topic 321 for equity securities.

ASC 330-910 was the inventory guidance specific to construction contractors, addressing how contractors accounted for inventoried costs (e.g., uninstalled materials and precontract costs) under Topic 330. All of its substantive paragraphs — Sections 05 (Overview and Background), 15 (Scope), 25 (Recognition), and 40 (Derecognition) — were superseded by Maintenance Update No. 2019-01, so the subtopic contains no operative guidance. Contractors now look to the general inventory guidance in Topic 330 and to the revenue and contract cost guidance in Topics 606 and 340-40.

ASC 360-910 was the construction-contractor-specific guidance on property, plant, and equipment, but every substantive paragraph (05-1, 15-1, 25-1, and 35-1) was superseded by Maintenance Update No. 2019-01. The subtopic is now an empty shell containing no operative recognition, measurement, or scope guidance. Contractors therefore apply the general PP&E guidance in ASC 360-10 (and, for contract accounting, ASC 606 and ASC 340-40).

This industry subtopic addresses how health care entities present property that is held for investment purposes rather than used in operations. Its single substantive rule is that such property is reported as part of investments (360-954-45-1), not within operating property, plant, and equipment. Its scope follows the health care entities Overall Subtopic scope in Section 954-10-15.

ASC 605-942 was the industry-specific revenue recognition guidance for depository and lending institutions (financial services) under the legacy ASC 605 model. Every paragraph in its Overview (05), Scope (15), and Recognition (25) sections was superseded by ASU 2014-09, so the subtopic contains no operative guidance. Revenue from contracts with customers for banks and lenders is now addressed under ASC 606 (with financial-instrument-related income remaining in ASC 310, 320, 815, 825, 942, etc.).

ASC 705-912 formerly contained cost-of-sales guidance for contractors with the federal government, addressing matters such as contract costs and related recognition and disclosure. Every paragraph in the subtopic (scope, recognition, and disclosure) was superseded by ASU 2014-09 (Revenue from Contracts with Customers). The subtopic is therefore an empty shell; federal government contractors now apply ASC 606 and the cost guidance in ASC 340-40.

This subtopic is a very short industry-specific overlay to ASC 740 that applies only to not-for-profit, business-oriented health care entities. Its single substantive rule is a disclosure requirement: a tax-exempt health care entity must disclose its tax-exempt status (740-954-50-1). It adds no recognition or measurement guidance beyond the general income tax model.

This narrow Subtopic deals with measurement issues for noncontrolling interests in certain real estate investment trusts (REITs). It contains almost no substantive guidance of its own: its scope simply mirrors Section 974-10-15, and its initial and subsequent measurement sections are essentially unused, with a single cross-reference pointing to Section 974-323-25 for how a REIT accounts for an investment in a service corporation.

ASC 855-926 was the film-industry-specific subsection of the subsequent events guidance, which previously required film entities to consider post-balance-sheet information (such as actual results after the reporting date) in estimating ultimate revenue and testing film costs for impairment. Every substantive paragraph (855-926-05-1, 15-1, and 35-1) was superseded by ASU 2012-07, so the subtopic now contains no operative guidance. Film cost impairment and ultimate revenue estimation are addressed instead in ASC 926-20, and general subsequent events guidance remains in ASC 855-10.

ASC 932-10 is the Overall subtopic of the oil and gas extractive activities Topic; it identifies which entities and activities fall within the industry guidance and supplies common industry definitions. It applies to all entities with oil- and gas-producing activities — the search for, acquisition of rights to, and construction/drilling/production activities needed to bring crude oil, natural gas, and synthetic-oil-source hydrocarbons to the surface (932-10-15-2A). The industry-specific Subtopics override the more general Codification Topics for the issues they address (932-10-05-3), and the Topic does not prohibit use of the full-cost method (932-10-15-4).

ASC 940-10 is the Overall subtopic of the Financial Services—Brokers and Dealers Topic, which lists the Topic's constituent subtopics (Broker-Dealer Activities, Receivables, Investments, Other Assets and Deferred Costs, Liabilities, Consolidation, and Fair Value Measurements) and sets its scope. The Topic applies to all entities that are brokers and dealers in securities and supplies only incremental industry-specific guidance; broker-dealers must still follow all other applicable GAAP outside the Topic.