ASC

Concept

percentage-of-completion

Referenced in 1 subtopic across 1 area.

Revenue1

  1. 605-910Contractors—Construction605 Revenue Recognition

    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 Every substantive paragraph in Sections 05, 15, 25, and 50 was superseded by ASU 2014-09 (Revenue from Contracts with Customers), leaving the subtopic as an empty shell.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.