{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/958/#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":"205-958","subtopic_title":"Not-for-Profit Entities","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":"205-958-15-1","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-0DD748A2-DAEB-4A20-B494-CB4C774CFCAE.ditamap\" class=\"ditamap\">958-10-15</a>. <span class=\"sfragment\" id=\"sfr_2D33A4A2-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">It discusses how <a href=\"/glossary/n/#not-for-profit-entity\" class=\"term\" title=\"An entity that possesses the following characteristics, in varying degrees, that distinguish it from a business entity: Contributions of significant amounts of resources from resource providers who do not expect commensurate or proportionate pecuniary return Operating purposes other than to provide goods or services at a profit Absence of ownership interests like those of business entities. Entities that clearly fall outside this definition include the following: All investor-owned entities Entities that provide dividends, lower costs, or other economic benefits directly and proportionately to their owners, members, or participants, such as mutual insurance entities, credit unions, farm and rural electric cooperatives, and employee benefit plans.\"><span>not-for-profit entities</span></a> (NFPs) report assets, liabilities, net assets, revenues, expenses, gains, and losses in financial statements; however, it does not specify when to recognize or how to measure those elements. </span></span></div></div>","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 958-10-15. It discusses how not-for-profit entities (NFPs) report assets, liabilities, net assets, revenues, expe…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c48778ee635e252203e4256e298961e8eedcd51be3a2440d753a7b988da29b2","downloaded_from":"2026-09-09T22:55:55.086Z","last_downloaded_at":"2026-09-09T22:55:55.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477667","source_sha256":"23b341ad61f061ddb53f146803f137ab39b99166a8c29c387c2bf97ea07ecf9d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f5b0f916401e68853c658959d8c1057178403943522763cc526751d80f0f7d99","downloaded_from":"2026-09-09T22:55:55.086Z","last_downloaded_at":"2026-09-09T22:55:55.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477667","source_sha256":"23b341ad61f061ddb53f146803f137ab39b99166a8c29c387c2bf97ea07ecf9d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1456a8ea5f660688828706b2546eb0cf9b8306bc91857aabf6dd8be473d17643","downloaded_from":"2026-09-09T22:55:55.086Z","last_downloaded_at":"2026-09-09T22:55:55.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477667","source_sha256":"23b341ad61f061ddb53f146803f137ab39b99166a8c29c387c2bf97ea07ecf9d"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1456a8ea5f660688828706b2546eb0cf9b8306bc91857aabf6dd8be473d17643","downloaded_from":"2026-09-09T22:55:55.086Z","last_downloaded_at":"2026-09-09T22:55:55.086Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477667","source_sha256":"23b341ad61f061ddb53f146803f137ab39b99166a8c29c387c2bf97ea07ecf9d"}}