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Chapter 17 — Sales of Nonfinancial Assets Within the Scope of ASC 610-20

17.2 Scope of ASC 610-20

17.2 Scope of ASC 610-20

ASC 610-20
15-2 Except as described in paragraph 610-20-15-4, the guidance in this Subtopic applies to gains or losses recognized upon the derecognition of nonfinancial assets and in substance nonfinancial assets. Nonfinancial assets within the scope of this Subtopic include intangible assets, land, buildings, or materials and supplies and may have a zero carrying value. In substance nonfinancial assets are described in paragraphs 610-20-15-5 through 15-8.
  1. Subparagraph superseded by Accounting Standards Update No. 2017-05.
  2. Subparagraph superseded by Accounting Standards Update No. 2017-05.
15-3 The guidance in this Subtopic applies to a transfer of an ownership interest (or a variable interest) in a consolidated subsidiary (that is not a business or nonprofit activity) only if all of the assets in the subsidiary are nonfinancial assets and/or in substance nonfinancial assets.
  1. Subparagraph superseded by Accounting Standards Update No. 2017-05.
  2. Subparagraph superseded by Accounting Standards Update No. 2017-05.
  3. Subparagraph superseded by Accounting Standards Update No. 2017-05.
  4. Subparagraph superseded by Accounting Standards Update No. 2017-05.
  5. Subparagraph superseded by Accounting Standards Update No. 2017-05.
15-4 The guidance in this Subtopic does not apply to the following:
  1. A transfer of a nonfinancial asset or an in substance nonfinancial asset in a contract with a customer, see Topic 606 on revenue from contracts with customers
  2. A transfer of a subsidiary or group of assets that constitutes a business or nonprofit activity, see Section 810-10-40 on consolidation
  3. Sale and leaseback transactions within the scope of Subtopic 842-40 on leases
  4. A conveyance of oil and gas mineral rights within the scope of Subtopic 932-360 on extractive activities — oil and gas
  5. A transaction that is entirely accounted for in accordance with Topic 860 on transfers and servicing (for example, a transfer of investments accounted for under Topic 320 on investments — debt securities, Topic 321 on investments — equity securities, Topic 323 on investments — equity method and joint ventures, Topic 325 on investments — other, Topic 815 on derivatives and hedging, and Topic 825 on financial instruments)
  6. A transfer of nonfinancial assets that is part of the consideration in a business combination within the scope of Topic 805 on business combinations, see paragraph 805-30-30-8
  7. A nonmonetary transaction within the scope of Topic 845 on nonmonetary transactions
  8. A lease contract within the scope of Topic 842 on leases
  9. An exchange of takeoff and landing slots within the scope of Subtopic 908-350 on airlines — intangibles
  10. A contribution of cash and other assets, including a promise to give, within the scope of Subtopic 720-25 on other expenses — contributions made or within the scope of Subtopic 958-605 on not-for-profit entities — revenue recognition
  11. A transfer of an investment in a venture that is accounted for by proportionately consolidating the assets, liabilities, revenues, and expenses of the venture as described in paragraph 810-10-45-14
  12. A transfer of nonfinancial assets or in substance nonfinancial assets solely between entities or persons under common control, such as between a parent and its subsidiaries or between two subsidiaries of the same parent.