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ASC 310 — Receivables


The full text of ASC 310, Receivables can be found in the FASB Accounting Standards Codification (link to the FASB's Web site; registration required). Also, the full text of the Codification and Deloitte-authored Q&As related to the Codification are available in the Deloitte Accounting Research Tool (DART) Web site (subscription required).

ASC 310 comprises four Subtopics (Overall, Nonrefundable Fees and Other Costs, Loans and Debt Securities Acquired with Deteriorated Credit Quality, and Troubled Debt Restructurings by Creditors). Below is an overview of each Subtopic.


310-10 Overall

ASC 310-10 provides general guidance for receivables and notes that receivables arise from credit sales, loans, or other transactions. This Subtopic further discusses acquisition, development, and construction arrangements and provides "guidance for determining whether a lender should account for an acquisition, development, and construction arrangement as a loan or as an investment in real estate or a joint venture."


310-20 Nonrefundable Fees and Other Costs

ASC 310-20 notes that this Subtopic provides "guidance on the recognition, measurement, derecognition, and disclosure of nonrefundable fees, origination costs, and acquisition costs associated with lending activities and loan purchases."


310-30 Loans and Debt Securities Acquired with Deteriorated Credit Quality

ASC 310-30 notes:

This Subtopic provides recognition, measurement, and disclosure guidance regarding loans acquired with evidence of deterioration of credit quality since origination acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable.

A loan or group of loans is always transferred at a price less than its contractually required payments receivable. The difference between the price and the contractually required payments receivable is attributable to the time value of money and may also be attributable to any of the following:

  1. Changes in interest rates between the loan's origination and transfer dates
  2. Changes in credit quality of the borrower between the loan's origination and transfer dates
  3. Other factors
  4. Some combination of all three reasons.

Deterioration may be evidenced by such sources as Fair Isaac Company (FICO) scores (an automated rating process for credit reports), downgrading, decline in value of collateral, or past-due status.


310-40 Troubled Debt Restructurings by Creditors

ASC 310-40 provides guidance on the "measurement, derecognition, disclosure, and implementation guidance issues concerning troubled debt restructurings focused on the creditor's records." ASC 470-60 discusses the debtor's accounting for troubled debt restructurings.

Content from the FASB Accounting Standards Codification® included at is copyrighted by the Financial Accounting Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116, and is reproduced with permission.

FASB Accounting Standards Updates

    The following ASUs amended the guidance in this Topic:

    Proposed FASB Accounting Standards Updates

    No current proposed ASUs on Topic 310.

    Related resources

    See our comprehensive collection of news and publications related to receivables.

    International guidance

    For the IASB's guidance on this topic, see IFRS 9, Financial Instruments.


    Correction list for hyphenation

    These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.