revenue recognition

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 Every paragraph in the subtopic — 430-922-05-1, 15-1, 25-1, 30-1, and 35-1 — was superseded by ASU 2014-09, the revenue recognition standard.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.

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 All of its substantive paragraphs (05-1, 15-1, 25-1) were superseded by ASU 2014-09, so the subtopic is now an empty shell.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 605-912 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 Every paragraph in the subtopic (Sections 05, 15, 25, and 50) was superseded by ASU 2014-09, so the subtopic contains no remaining substantive guidance.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 605-915 formerly provided revenue recognition guidance specific to development stage entities (pre-revenue enterprises devoting efforts to establishing a new business). Every remaining paragraph in this subtopic (05-1, 15-1, 25-1) was superseded by ASU 2014-10, which eliminated the concept of a "development stage entity" from U.S. GAAP. As a result, there is no separate revenue guidance for such entities; they apply the same revenue recognition standards as any other entity.

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 Every paragraph in its Overview (05), Scope (15), and Recognition (25) sections was superseded by ASU 2014-09, so the subtopic contains no operative guidance.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 605-970 formerly provided the legacy revenue recognition guidance for real estate—general transactions (including profit recognition and measurement on real estate sales). Every paragraph in the subtopic — Sections 05, 15, 25, 30, 35, and 55 — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). No substantive guidance remains; entities apply ASC 606 (and ASC 610-20 for sales of nonfinancial assets to noncustomers) instead.

ASC 605-972 formerly provided revenue recognition guidance for common interest realty associations (CIRAs), such as condominium and homeowners' associations, addressing assessments from members. Every paragraph in the subtopic — scope, recognition, presentation, and disclosure — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). CIRA revenue transactions are now evaluated under ASC 606, with any surviving industry guidance located in ASC 606-10 or ASC 972.

ASC 845-985 formerly provided industry guidance on nonmonetary (barter) exchanges involving software, principally software revenue recognition in exchanges of software products or licenses. Every paragraph in this subtopic — scope, recognition, and implementation guidance — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). The subtopic therefore contains no operative guidance; nonmonetary consideration in software arrangements is now addressed under ASC 606 (noncash consideration) and general nonmonetary guidance in ASC 845-10.