Wiley GAAP: Financial Statement Disclosure Manual

38ASC 610 OTHER INCOME

1. Authoritative Literature
   1. Subtopics
   2. Scope and Scope Exceptions
      1. ASC 610‐10, Overall
      2. ASC 610‐20, Gains and Losses from the Derecognition of Nonfinancial Assets
      3. ASC 610‐30, Gains and Losses on Involuntary Conversions
   3. ASC 610‐10, Overall
   4. ASC 610‐20, Gains and Losses from the Derecognition of Financial Assets
      1. Recognition
      2. Measurement
   5. ASC 610‐30, Gains and Losses on Involuntary Conversions
      1. Recognition, Measurement, and Presentation
2. Presentation and Disclosure Requirements
   1. Presentation
   2. Disclosure
3. Presentation and Disclosure Examples
   1. Example 38.1: Effect of Adoption of ASC 610 on Real Estate Transactions
   2. Example 38.2: Effect of Adoption of ASC 610 on Royalties

AUTHORITATIVE LITERATURE

Subtopics

ASC 610, Other Income, contains three Subtopics:

1. ASC 610‐10, Overall, which defines the scope of guidance on revenue recognized that is not in the scope of:
   • ASC 606, in other words, that is not from a contract with a customer,
   • Other topics, such as ASC 840 or 842 on leases and ASC 944 on insurance, or
   • Other revenue or income guidance.
2. ASC 610‐20, Gains and Losses from the Derecognition of Nonfinancial Assets, applies to derecognition of nonfinancial assets with the scope of ASC 350 on intangibles and ASC 360 on property, plant, and equipment that is not in the scope of ASC 606. Nonfinancial assets are, for example, real estate, intangible assets, property, plant, and equipment.
3. ASC 610‐30, Gains and Losses on Involuntary Conversions, applies to events ...