industry-specific revenue guidance

ASC 430-10 is now only a signpost: it contains no substantive recognition or measurement rules of its own. Its single remaining paragraph (430-10-05-1) directs readers to Topic 606 for guidance on deferred revenue and contract liabilities. The former recognition and relationship paragraphs (430-10-25-1 and 430-10-60-1) were superseded by ASU 2014-09.

ASC 430-922 formerly provided industry-specific guidance on deferred revenue for cable television companies (e.g., accounting for installation and hookup fees received before the related service was provided). Every paragraph in the subtopic — 430-922-05-1, 15-1, 25-1, 30-1, and 35-1 — was superseded by ASU 2014-09, the revenue recognition standard. As a result, the subtopic contains no operative guidance; cable television revenue and related contract liabilities are now accounted for under ASC 606.

This subtopic formerly addressed deferred revenue (advances and license fees received before recognition) for entertainment—films entities. Every substantive paragraph in Sections 05, 15, and 25 was superseded by ASU 2014-09 (the revenue standard), so the subtopic contains no remaining guidance. Film-related contract liabilities are now accounted for under ASC 606 and ASC 926-605/926-10 as amended.

ASC 430-928 was the deferred revenue guidance for the music industry (Entertainment—Music), addressing when amounts received (e.g., minimum guarantees or advances under licensing arrangements) had to be deferred rather than recognized. Every paragraph in the subtopic — 430-928-05-1, 430-928-15-1, and 430-928-25-1 — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). No substantive guidance remains; music-industry deferred revenue questions are now answered under ASC 606 and the music-specific guidance in ASC 928-606.

ASC 430-954 formerly provided the deferred revenue guidance for health care entities, principally continuing care retirement communities (CCRCs) accounting for nonrefundable advance (entrance) fees and refundable advance fees. Every paragraph in the subtopic has been superseded by ASU 2014-09 (Revenue from Contracts with Customers), and the transition paragraph 430-954-65-1 was superseded on 06/26/2015 following ASU 2012-01. The subtopic therefore contains no operative guidance; deferred revenue for health care entities is now addressed under ASC 606 and ASC 954-405/954-606.

ASC 430-972 was the deferred revenue guidance for common interest realty associations (CIRAs) — e.g., condominium and homeowners' associations — addressing when assessments and similar member charges collected in advance had to be deferred rather than recognized. All of its substantive paragraphs (05-1, 15-1, 25-1) were superseded by ASU 2014-09, so the subtopic is now an empty shell. CIRA revenue and deferral questions are instead resolved under ASC 606 and the related contract liability guidance.

ASC 605-10 is the residual "Overall" subtopic of the legacy Revenue Recognition Topic; after ASU 2014-09 substantially all of its recognition guidance was superseded and replaced by Topic 606. What remains is a navigational shell: it states that no revenue recognition guidance is located in Topic 605, points to industry Subtopics that still govern revenue for contracts not with customers within Topic 606's scope, and directs users to the Subtopics containing guidance on provisions for losses on onerous contracts.

ASC 605-908 was the legacy industry-specific revenue recognition guidance for airlines (passenger ticket sales, frequent flyer/mileage programs, and related items). Every paragraph in Sections 05, 15, and 25 has been superseded by Accounting Standards Update No. 2014-09, so the subtopic contains no operative guidance. Airline revenue is now accounted for under ASC 606 (with airline-specific implementation guidance in ASC 606-10-55 and Subtopic 908-606).

ASC 605-910 was the construction-contractor revenue guidance nested in the legacy revenue recognition topic (ASC 605). Every substantive paragraph in Sections 05, 15, 25, and 50 was superseded by ASU 2014-09 (Revenue from Contracts with Customers), leaving the subtopic as an empty shell. Construction contractors now apply ASC 606 for revenue and ASC 340-40 for contract costs.

ASC 605-912 was the legacy industry guidance on revenue recognition for contractors with the U.S. federal government, covering matters such as recognition of fees, contract terminations, renegotiation and price redetermination. Every paragraph in the subtopic (Sections 05, 15, 25, and 50) was superseded by ASU 2014-09, so the subtopic contains no remaining substantive guidance. Federal government contractors now apply ASC 606 (with related guidance in ASC 340-40) and, if applicable, the residual industry guidance in ASC 912.

ASC 605-928 formerly provided industry-specific revenue recognition guidance for the music industry (licensors of music rights, record masters, and related fees). Every paragraph in the subtopic — scope, recognition, initial measurement, and relationships sections — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). Entities now account for music-industry revenue under ASC 606 and, for licensing arrangements, ASC 606-10-55-54 through 55-65, with residual industry guidance in ASC 928.

ASC 605-932 was the oil and gas industry-specific guidance under the legacy revenue recognition model (ASC 605), addressing revenue recognition for extractive activities such as gas balancing arrangements. Every substantive paragraph in the subtopic (05-1, 15-1, 25-2, and 50-1) was superseded by ASU 2014-09, so the subtopic now contains no operative guidance. Oil and gas revenue is instead accounted for under ASC 606, with industry-specific application guidance in ASC 932-606.

ASC 605-940 formerly provided industry-specific revenue recognition guidance for brokers and dealers in securities (e.g., trade-date recognition of commissions and related expenses, and measurement of such revenues). Every paragraph in the subtopic — Sections 05, 15, 25 and 30 — was superseded by ASU 2014-09, so the subtopic contains no remaining operative guidance. Broker-dealer revenue from contracts with customers is now accounted for under ASC 606, with related industry implementation guidance in ASC 940-605.

ASC 605-952 formerly contained the industry-specific revenue recognition guidance for franchisors (initial franchise fees, area franchise sales, continuing fees, and related disclosures). Every paragraph in the subtopic — Sections 05, 15, 25, 35, 40, 45, and 50 — has been superseded by ASU 2014-09 (Revenue from Contracts with Customers). Franchisors now apply ASC 606 (with ASC 340-40 for contract costs), including the franchisor-specific implementation guidance and, for private companies, the practical expedient added by ASU 2021-02.

ASC 605-974 formerly provided industry-specific revenue recognition guidance for real estate investment trusts under the legacy ASC 605 revenue model. Every paragraph in the subtopic (Sections 05, 15, 25, 45, and 50) was superseded by ASU 2014-09, the revenue standard. REIT revenue transactions are now accounted for under ASC 606 (contracts with customers) or, for rental income, under the leases guidance in ASC 842.

ASC 845-926 was the industry-specific guidance applying nonmonetary-exchange principles to film entities (e.g., barter or exchange transactions involving film licensing rights). Every remaining paragraph in the subtopic — the overview (845-926-05-1), scope (845-926-15-1), and recognition (845-926-25-1) guidance — was superseded by ASU 2014-09, the revenue recognition standard. As a result, the subtopic contains no operative guidance; exchanges of film rights for consideration other than cash are now analyzed under ASC 606 (and related film cost guidance in ASC 926).