superseded guidance (tdrs and purchased credit-impaired loans)

Assets20

1. 310-10Overall310 Receivables

   ASC 310-10 is the Overall subtopic for receivables, providing general guidance on recognizing, measuring, presenting, and disclosing loans and trade receivables (including factoring, loan syndications, standby commitments to purchase loans, purchased credit card portfolios, and secured loans), plus a separate set of Subsections on acquisition, development, and construction (ADC) arrangements. Receivables held for the foreseeable future are carried at amortized cost basis (with credit losses under Topic 326), while nonmortgage loans held for sale are carried at the lower of amortized cost basis or fair value through a valuation allowance. The ADC Subsections tell a lender whether an arrangement in which it participates in expected residual profit is a loan, a real estate investment, or a real estate joint venture; most of the old impairment/TDR guidance in this subtopic was superseded by ASU 2016-13 and ASU 2022-02, leaving modification disclosures behind.

2. 310-20Nonrefundable Fees and Other Costs310 Receivables

   ASC 310-20 governs how lenders and loan purchasers account for nonrefundable fees, origination costs, commitment fees, syndication fees, credit card fees, and purchase premiums/discounts. The core rule is that loan origination fees and direct loan origination costs are deferred, offset, and recognized only as a net amount over the life of the loan as a yield (interest income) adjustment using the interest method; all other lending-related costs (advertising, solicitation, servicing, unsuccessful efforts, occupancy, equipment) are expensed as incurred. It also prescribes when a refinancing/restructuring is treated as a new loan versus a carryover of unamortized net fees and costs.

3. 310-30Loans and Debt Securities Acquired with Deteriorated Credit Quality310 Receivables

   ASC 310-30 formerly governed loans and debt securities acquired with evidence of deteriorated credit quality (so-called purchased credit-impaired assets), where it was probable at acquisition that the investor would not collect all contractually required payments receivable; it required accreting the excess of expected cash flows over the initial investment into interest income as accretable yield and prohibited carrying over or creating a valuation allowance at acquisition. Every substantive paragraph of this subtopic has been superseded by Accounting Standards Update No. 2016-13 (CECL). Purchased financial assets with credit deterioration are now accounted for under Subtopics 326-20 and 326-30.

4. 310-40Troubled Debt Restructurings by Creditors310 Receivables

   ASC 310-40 formerly contained the creditor's accounting for troubled debt restructurings (TDRs) — the definition of a TDR, measurement of impairment on restructured loans, accounting for assets or equity interests received in satisfaction of a receivable, and TDR-specific disclosures. Every operative paragraph has been superseded, principally by ASU 2022-02 (which eliminated the TDR model for creditors that have adopted ASC 326), with earlier deletions by ASU 2016-13 and ASU 2014-09. The subtopic is now an empty shell: creditors account for modifications to borrowers experiencing financial difficulty under ASC 326 and ASC 310-10 instead.

5. 310-905Agriculture310 Receivables

   ASC 310-905 provides industry-specific guidance on receivables (loans, notes, and others) for agricultural entities, with dedicated Cooperatives—Patrons Subsections for patrons of agricultural cooperatives. Its core rules govern when a patron recognizes a patronage refund receivable and how a patron's unbilled receivable from products delivered to a cooperative is subsequently measured. Scope follows ASC 905-10-15.

6. 310-910Contractors—Construction310 Receivables

   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).

7. 310-912Contractors—Federal Government310 Receivables

   This Subtopic tells federal government contractors how to recognize, present, and disclose receivables arising from government contracts. Its core rules: unbilled costs and fees under cost-plus-fixed-fee contracts are receivables or contract assets (not advances or inventory); progress payments are applied first against unbilled receivables (or accounted for as financing if the government obtains only a secured interest); and a terminated contract converts contract inventory into a termination claim receivable classified as a current asset.

8. 310-920Entertainment—Broadcasters310 Receivables

   ASC 310-920 formerly provided industry-specific guidance on receivables arising in broadcasting arrangements. Both of its substantive paragraphs — the overview/background paragraph (310-920-05-1) and the recognition paragraph (310-920-25-1) — were superseded by ASU No. 2014-09 (Revenue from Contracts with Customers). As a result, the subtopic contains no remaining operative guidance.

9. 310-940Financial Services—Brokers and Dealers310 Receivables

   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).

10. 310-942Financial Services—Depository and Lending310 Receivables

    This Subtopic gives industry guidance for depository and lending institutions on receivables, principally debt-equity swap programs in which a bank converts U.S.-dollar-denominated loans to financially troubled countries into approved local equity investments. A swap is measured at fair value at the date both parties agree to the transaction, considering both the secondary market price of the loan given up and the fair value of the equity or net assets received; a shortfall against the recorded investment in the loan is a loss charged to the allowance for loan losses. It also addresses nonaccrual loans to troubled countries, when interest may again be recognized as income, and gross presentation of customers' liabilities on acceptances.

11. 310-944Financial Services—Insurance310 Receivables

    ASC 310-944 tells insurance entities how to account for receivables: mortgage loans held as investments, reinsurance recoverables, and premium receivables on financial guarantee insurance contracts. Mortgage loans are recognized as assets at principal (or cost if bought at a discount/premium) and carried at amortized cost with an allowance for expected credit losses under Topic 326-20; reinsurance recoverables must be reported gross as assets (no netting against related liabilities absent a legal right of setoff). For financial guarantee contracts with installment premiums, the premium receivable is measured at the present value of premiums expected to be collected using a risk-free rate at inception, with the discount accreted to earnings.

12. 310-946Financial Services—Investment Companies310 Receivables

    This Subtopic governs how an investment company presents receivables in its statement of assets and liabilities. Receivables must be listed separately at net realizable value by category — dividends and interest, investment securities sold, capital stock sold, and other accounts receivable (including related-party and affiliate expense-reimbursement receivables and variation margin on open futures contracts). Foreign-currency-denominated receivables are translated into the functional currency at current exchange rates and may be grouped with the corresponding functional currency receivables.

13. 310-948Financial Services—Mortgage Banking310 Receivables

    This subtopic governs how mortgage banking entities account for mortgage loans and mortgage-backed securities, including classification as held for sale versus held for long-term investment, related origination fees and costs, and transactions with affiliates. Loans held for sale are carried at the lower of amortized cost basis or fair value through a valuation allowance charged to income, while loans held for long-term investment are carried at amortized cost basis with credit losses measured under Subtopic 326-20. Transfers between classifications require reversal in earnings of any previously recorded allowance and re-measurement under the new classification.

14. 310-954Health Care Entities310 Receivables

    ASC 310-954 governs how health care entities recognize, measure, present, and disclose receivables, principally amounts due from patients and third-party payors (Blue Cross, Medicare, Medicaid, HMOs, workers' compensation). Contractual adjustments and discounts are treated as variable consideration under ASC 606 (606-10-32-5 through 32-14 and 32-42 through 32-45), while an allowance for credit losses is measured under Topic 326. Charity care is never recognized as a receivable, and amounts due from third-party payors for retroactive adjustments such as final settlements or appeals must be reported separately.

15. 310-958Not-for-Profit Entities310 Receivables

    This subtopic governs contributions (promises to give) receivable — a receivable unique to not-for-profit entities — focusing on subsequent measurement, presentation, and disclosure after initial recognition under 958-605. Unconditional promises are recognized as an asset and revenue when received (with verifiable documentation), measured initially under 958-605-30-4 through 30-8, and thereafter either at fair value under the 825-10 fair value option or under the change-in-value rules in Section 35 (interest accretion is contribution revenue; decreases in expected assets are bad debt expense/loss; increases generally are not recognized except as recovery of previously recognized bad debts).

16. 310-960Plan Accounting—Defined Benefit Pension Plans310 Receivables

    This Subtopic governs when a defined benefit pension plan recognizes contributions receivable in its own financial statements. Amounts due at the reporting date from employers, participants, or other funding sources (separately identified) are recognized when supported by legal or contractual requirements or a formal commitment, net of an allowance for estimated uncollectible amounts. Unfunded prior service costs and any excess of the actuarial present value of accumulated plan benefits over net assets available for benefits are not plan receivables.

17. 310-962Plan Accounting—Defined Contribution Pension Plans310 Receivables

    This Subtopic governs receivables in the financial statements of defined contribution pension plans — principally employer/participant contributions receivable and participant loans. Contributions receivable are recognized when supported by a formal commitment or legal/contractual requirement, are shown net of an allowance for estimated uncollectible amounts, and are separately identified. Participant loans are measured at unpaid principal plus accrued but unpaid interest and are reported as notes receivable from participants rather than as investments at fair value.

18. 310-965Plan Accounting—Health and Welfare Benefit Plans310 Receivables

    This Subtopic governs receivables of health and welfare benefit plans, principally contributions receivable from employers and amounts due from insurance entities. Employer contributions are recognized only when supported by a formal commitment (e.g., a governing-body resolution, an established pattern of post-year-end funding, a tax deduction, or the employer's own recorded payable), and contributions receivable must carry an allowance for estimated uncollectible amounts. Deposits with insurance entities or service providers and premium stabilization reserves remain plan assets until applied against premiums or claims, and experience-rating refunds are recorded when probable and reasonably estimable.

19. 310-976Real Estate—Retail Land310 Receivables

    This subtopic governs the measurement, derecognition, and disclosure of receivables arising from retail land sales. Its core rule is that an allowance for contract cancellations must be provided for receivables not expected to be collected because of cancellation, estimated from historical collection data drawn from a representative, current sample covering an adequate period (310-976-35-1). Cancelled contract receivable balances are charged in full against that allowance (310-976-40-1), and specified receivable disclosures are required (310-976-50-1).

20. 310-978Real Estate—Time-Sharing Activities310 Receivables

    This Subtopic governs the accounting for notes receivable arising from time-sharing interval sales, which are typically seller-financed recourse promissory notes with 5- to 10-year terms. It requires uncollectibility (of both principal and interest) to be measured on actual collection experience rather than on proceeds from receivable sales or securitizations, and requires an allowance for credit losses estimated each reporting period (at least quarterly) under Subtopic 326-20. It also prescribes specific disclosures about note maturities, interest rates, and allowance activity, including receivables sold with recourse.