ASC 360 Property, Plant, and Equipment

This Topic comprises two Subtopics (Overall and Real Estate Sales).

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US GAAP

10 Overall 20 Real Estate Sales 905 Agriculture 908 Airlines 910 Contractors—Construction 922 Entertainment—Cable Television 930 Extractive Activities—Mining 932 Extractive Activities—Oil and Gas 942 Financial Services—Depository and Lending 944 Financial Services—Insurance 954 Health Care Entities 958 Not-For-Profit Entities 960 Plan Accounting—Defined Benefit Pension Plans 962 Plan Accounting—Defined Contribution Pension Plans 965 Plan Accounting—Health and Welfare Benefit Plans 970 Real Estate—General 972 Real Estate—Common Interest Realty Associations 980 Regulated Operations

ASC 360 comprises two Subtopics (Overall and Real Estate Sales). Below is an overview of each Subtopic.

360-10 Overall

ASC 360-10 provides guidance on accounting for property, plant, and equipment, and the related accumulated depreciation on those assets. This Subtopic also includes guidance on the impairment or disposal of long-lived assets. ASC 360-10 notes that long-lived tangible assets include land and land improvements, buildings, machinery and equipment, and furniture and fixtures.

360-20 Real Estate Sales

ASC 360-20 notes the following:

This Subtopic provides accounting guidance for the sale of real estate other than retail land. The real estate sales guidance was placed under the Property, Plant, and Equipment Topic because it is applicable to all entities involved with real estate sales transactions. Other guidance specific to the real estate subindustries is found in the related Real Estate Topics.

The Real Estate Topics are found at ASC 970 through ASC 978.