scope exclusions

Industry4

1. 926-10Overall926 Entertainment—Films

   ASC 926-10 is the overall/scope subtopic for Entertainment—Films. It establishes that Topic 926 provides only incremental, industry-specific guidance on film costs, participation costs, and manufacturing costs for producers and distributors that own or hold rights to distribute or exploit films in any market or territory. Entities in scope must still apply all other applicable GAAP not contained in Topic 926.

2. 932-10Overall932 Extractive Activities—Oil and Gas

   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).

3. 960-10Overall960 Plan Accounting—Defined Benefit Pension Plans

   ASC 960-10 is the Overall subtopic of the defined benefit pension plan accounting Topic, setting the scope of and providing an overview of financial reporting by the plan itself (not the sponsoring employer, which follows Topic 715). Defined benefit plans promise participants determinable benefits based on factors such as age, years of service, and compensation, and because the plan's net assets are the means of paying those benefits, net asset information is necessary to assess the plan's ability to pay benefits when due. The Topic applies to all ongoing plans (funded or unfunded, ERISA and non-ERISA, U.S. and comparable foreign plans reporting under U.S. GAAP) but does not itself require any plan to prepare or distribute financial statements.

4. 976-10Overall976 Real Estate—Retail Land

   ASC 976-10 is the Overall subtopic of the Real Estate—Retail Land Topic, which provides incremental industry-specific guidance for retail land sales — high-volume sales of lots subdivided from large tracts of land, characterized by very small down payments and a sales contract or buyer's note for the balance. It defines the scope of the Topic (entities selling such lots on a volume basis where the note could not be sold to a bank without substantial discount and the seller cannot enforce against the buyer's general credit) and lists the transactions excluded from that scope. Entities in scope must also apply all other applicable GAAP not contained in this Topic.