{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/20/#15-scope-and-scope-exceptions","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"205","topic_title":"Presentation of Financial Statements","subtopic":"205-20","subtopic_title":"Discontinued Operations","section":{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"205-20-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic; see Section <a altsource=\"GUID-0CE17FE7-D222-4274-88C2-324087BF8070.ditamap\" class=\"ditamap\">205-10-15</a>, with specific transaction qualifications noted below.</div></div>","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic; see Section 205-10-15, with specific transaction qualifications noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e87a16fb9651812cf975cd9385733293fc82bcf78bfe9dd5dd9c305a0fad01a9","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ce9572f6164bdcbbdaa848b7ea00e627a96259b37b996d2045dc1da5e3ced4c0","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"205-20-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><div class=\"norm-text\">The guidance in this Subtopic applies to either of the following:<ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"GUID-66D0CA0C-88B2-4BB6-8572-1EECB759DAA8\"><span class=\"sfragment-source\">A <a href=\"/glossary/c/#component-of-an-entity\" class=\"term\" title=\"A component of an entity comprises operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. A component of an entity may be a reportable segment or an operating segment, a reporting unit, a subsidiary, or an asset group.\"><span>component of an entity</span></a> or a group of components of an entity that is disposed of or is classified as held for sale </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"GUID-B72CAB15-6FFD-4C6B-96FF-8E851CA22295\"><span class=\"sfragment-source\">A <a href=\"/glossary/b/#business\" class=\"term\" title=\"Paragraphs 805-10-55-3A805-10-55-4805-10-55-5805-10-55-6 and 805-10-55-8805-10-55-9 define what is considered a business.\"><span>business</span></a> or <a href=\"/glossary/n/#nonprofit-activity\" class=\"term\" title=\"An integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing benefits, other than goods or services at a profit or profit equivalent, as a fulfillment of an entity's purpose or mission (for example, goods or services to beneficiaries, customers, or members). As with a not-for-profit entity, a nonprofit activity possesses characteristics that distinguish it from a business or a for-profit business entity.\"><span>nonprofit activity</span></a> that, on acquisition </span></span><span class=\"sfragment\" id=\"GUID-75DEB70F-21B3-449F-BE9F-9757BB9E4712\"><span class=\"sfragment-source\">or upon formation of a <a href=\"/glossary/j/#joint-venture\" class=\"term\" title=\"An entity owned and operated by a small group of businesses (the joint venturers) as a separate and specific business or project for the mutual benefit of the members of the group. A government may also be a member of the group. The purpose of a joint venture frequently is to share risks and rewards in developing a new market, product, or technology; to combine complementary technological knowledge; or to pool resources in developing production or other facilities. A joint venture also usually provides an arrangement under which each joint venturer may participate, directly or indirectly, in the overall management of the joint venture. Joint venturers thus have an interest or relationship other than as passive investors. An entity that is a subsidiary of one of the joint venturers is not a joint venture. The ownership of a joint venture seldom changes, and its equity interests usually are not traded publicly. A minority public ownership, however, does not preclude an entity from being a joint venture. As distinguished from a corporate joint venture, a joint venture is not limited to corporate entities.\"><span>joint venture</span></a>, </span></span><span class=\"sfragment\" id=\"GUID-A0141CC4-CBD1-454C-A96D-F9EEBE535801\"><span class=\"sfragment-source\">is classified as held for sale.</span></span></div></li></ol></div></div></div>","snippet":"The guidance in this Subtopic applies to either of the following:\n(a) A component of an entity or a group of components of an entity that is disposed of or is classified as held for sale\n(b) A business or nonprofit activ…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fdefc1b6b82a5781bff4a17fe367a7cbca46a3ef5fbcc2414e9491b34306dfe5","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:af55c4842240cbfee82feb3e6192283224c1207c4346dbab8dec87b3daeae35e","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"205-20-15-3","para":"15-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_67E7BB44-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The guidance in this Subtopic does not apply to oil and gas properties that are accounted for using the full-cost method of accounting as prescribed by the U.S. Securities and Exchange Commission (SEC) (see Regulation S-X, Rule 4-10, Financial Accounting and Reporting for Oil and Gas Producing Activities Pursuant to the Federal Securities Laws and the Energy Policy and Conservation Act of 1975).</span></span></div></div>","snippet":"The guidance in this Subtopic does not apply to oil and gas properties that are accounted for using the full-cost method of accounting as prescribed by the U.S. Securities and Exchange Commission (SEC) (see Regulation S-…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:15f94b17c7921782ed96ab22338dfdefb559de09233401b27edf053b7ea35d6b","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c1981f19aeea5271744f3bc8d206acaf876c3b81ceec21447710cecb57129813","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:599fe054a02172945a03b64083a685e2b630e033f23524ed56522a1cfe4b5e44","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:599fe054a02172945a03b64083a685e2b630e033f23524ed56522a1cfe4b5e44","downloaded_from":"2026-09-09T22:52:53.997Z","last_downloaded_at":"2026-09-09T22:52:53.997Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483476","source_sha256":"5dd3cf564aed99c9353f213c48b48932d85b3b238b089945dcfc421aadc35a62"}}