{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/220/40/#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":"220","topic_title":"Income Statement—Reporting Comprehensive Income","subtopic":"220-40","subtopic_title":"Expense Disaggregation Disclosures","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":"220-40-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"div pending-text\" id=\"pgroup_fmc_qjt_bdc__GUID-33037A8B-8CF4-45C6-A9E8-06F60C3BE183\"><div class=\"div date-effective\"><span class=\"transition-header\">Transition date:</span><span class=\"p-alphabet\">(P) December 16, 2026; (N) December 16, 2026</span><span class=\"transition-header pipe-separator\">Transition guidance:</span></div><a href=\"/asc/220/40/#220-40-65-1\" class=\"xref\">220-40-65-1</a><span class=\"sfragment\" id=\"GUID-C0C575F7-8E75-4212-A9E2-B5CDB686F863\"><span class=\"sfragment-source\">This Subtopic has its own discrete scope, which is separate and distinct from the pervasive scope for this Topic as outlined in Section <a altsource=\"GUID-1905F2E6-B102-46C2-BDD9-8FD51EF0C03A.ditamap\" class=\"ditamap\">220-10-15</a>. </span></span></div></div>","snippet":"Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance:220-40-65-1This Subtopic has its own discrete scope, which is separate and distinct from the pervasive scope for this Topic as outlined in S…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c7c515db403dfcae8398f8425f5ec8e33d9a37498407174723dabfb665bf55fe","downloaded_from":"2026-09-09T23:04:57.683Z","last_downloaded_at":"2026-09-09T23:04:57.683Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476146","source_sha256":"3c6b7c4394ac229df23250e242d4029a897a65ab6fcf704405a779327dc19fdd"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4509bea3470e34a1bf85341d76ce47ef6f98af2c3af27afd37b582fd41e78be2","downloaded_from":"2026-09-09T23:04:57.683Z","last_downloaded_at":"2026-09-09T23:04:57.683Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476146","source_sha256":"3c6b7c4394ac229df23250e242d4029a897a65ab6fcf704405a779327dc19fdd"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"220-40-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"div pending-text\" id=\"pgroup_umg_dkt_bdc__GUID-CE4DC801-1C86-4F65-9071-459D4D2ED066\"><div class=\"div date-effective\"><span class=\"transition-header\">Transition date:</span><span class=\"p-alphabet\">(P) December 16, 2026; (N) December 16, 2026</span><span class=\"transition-header pipe-separator\">Transition guidance:</span></div><a href=\"/asc/220/40/#220-40-65-1\" class=\"xref\">220-40-65-1</a><span class=\"sfragment\" id=\"sfragment_bd2_kkt_bdc\"><span class=\"sfragment-source\">The guidance in this Subtopic applies to all <a href=\"/glossary/p/#public-business-entity\" class=\"term\" title=\"A public business entity is a business entity meeting any one of the criteria below. Neither a not-for-profit entity nor an employee benefit plan is a business entity. It is required by the U.S. Securities and Exchange Commission (SEC) to file or furnish financial statements, or does file or furnish financial statements (including voluntary filers), with the SEC (including other entities whose financial statements or financial information are required to be or are included in a filing). It is required by the Securities Exchange Act of 1934 (the Act), as amended, or rules or regulations promulgated under the Act, to file or furnish financial statements with a regulatory agency other than the SEC. It is required to file or furnish financial statements with a foreign or domestic regulatory agency in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer. It has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an over-the-counter market. It has one or more securities that are not subject to contractual restrictions on transfer, and it is required by law, contract, or regulation to prepare U.S. GAAP financial statements (including notes) and make them publicly available on a periodic basis (for example, interim or annual periods). An entity must meet both of these conditions to meet this criterion. An entity may meet the definition of a public business entity solely because its financial statements or financial information is included in another entity's filing with the SEC. In that case, the entity is only a public business entity for purposes of financial statements that are filed or furnished with the SEC.\"><span>public business entities</span></a>. </span></span></div></div>","snippet":"Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance:220-40-65-1The guidance in this Subtopic applies to all public business entities.","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:343a49c856ef1d693f08331d41d94a6229c9cea37d707edd6e066389e06bb355","downloaded_from":"2026-09-09T23:04:57.683Z","last_downloaded_at":"2026-09-09T23:04:57.683Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476146","source_sha256":"3c6b7c4394ac229df23250e242d4029a897a65ab6fcf704405a779327dc19fdd"}},{"citation":"220-40-15-3","para":"15-3","html":"<div class=\"asc-body\"><div class=\"div pending-text\" id=\"pgroup_umg_dkt_bdc__GUID-745941AB-A051-4DD0-831D-E8B830ED170F\"><div class=\"div date-effective\"><span class=\"transition-header\">Transition date:</span><span class=\"p-alphabet\">(P) December 16, 2026; (N) December 16, 2026</span><span class=\"transition-header pipe-separator\">Transition guidance:</span></div><a href=\"/asc/220/40/#220-40-65-1\" class=\"xref\">220-40-65-1</a><span class=\"sfragment\" id=\"GUID-3F4003F6-E55F-4245-8479-5E75F7533322\"><span class=\"sfragment-source\">The guidance in this Subtopic does not apply to the following entities: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"GUID-C39F7058-B0AE-4CB3-B4A8-A01BEE74535D\"><span class=\"sfragment-source\"><a href=\"/glossary/p/#private-company\" class=\"term\" title=\"An entity other than a public business entity, a not-for-profit entity, or an employee benefit plan within the scope of Topics 960 through 965 on plan accounting.\"><span>Private companies</span></a></span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"GUID-67B5FFD4-1738-4F3D-BB8A-E5152159B25E\"><span class=\"sfragment-source\"><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></span></span></div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\"><span class=\"sfragment\" id=\"GUID-10A592FA-4DD0-4CAC-8EB4-F2CC511827CB\"><span class=\"sfragment-source\">Employee benefit plans within the scope of any of the following Topics:</span></span></div><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">1</span><div class=\"p\"><span class=\"sfragment\" id=\"GUID-1521C5E5-BD78-434B-93AC-CB4480F670BC\"><span class=\"sfragment-source\">Plan Accounting—Defined Benefit Pension Plans (Topic <a altsource=\"GUID-E6770400-46A8-4C63-9170-506D498C0464.ditamap\" class=\"ditamap\">960</a>)</span></span></div></li><li class=\"li-norm\"><span class=\"linum\">2</span><div class=\"p\"><span class=\"sfragment\" id=\"GUID-DEB67F9A-6EAE-4D1D-A1F7-F31A05EF41A1\"><span class=\"sfragment-source\">Plan Accounting—Defined Contribution Pension Plans (Topic <a altsource=\"GUID-6472CE88-0620-4B20-939A-DD54847A40E6.ditamap\" class=\"ditamap\">962</a>)</span></span></div></li><li class=\"li-norm\"><span class=\"linum\">3</span><div class=\"p\"><span class=\"sfragment\" id=\"GUID-0AE9EF93-DA5D-449F-8143-930A5A912C89\"><span class=\"sfragment-source\">Plan Accounting—Health and Welfare Benefit Plans (Topic <a altsource=\"GUID-A5BBBF5F-B258-4EE2-ABBB-49C1941C5D4C.ditamap\" class=\"ditamap\">965</a>).</span></span></div></li></ol></li></ol></div></div>","snippet":"Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance:220-40-65-1The guidance in this Subtopic does not apply to the following entities:\n(a) Private companies\n(b) Not-for-profit entities\n(c) Emp…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cfca4e4014f28bfa61b20101fed36073435a46efd7bf81b3dea45fda0709f866","downloaded_from":"2026-09-09T23:04:57.683Z","last_downloaded_at":"2026-09-09T23:04:57.683Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476146","source_sha256":"3c6b7c4394ac229df23250e242d4029a897a65ab6fcf704405a779327dc19fdd"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d7221be085cff095373ff24075d562647b4910022c08593585d0dcc06e0ee627","downloaded_from":"2026-09-09T23:04:57.683Z","last_downloaded_at":"2026-09-09T23:04:57.683Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476146","source_sha256":"3c6b7c4394ac229df23250e242d4029a897a65ab6fcf704405a779327dc19fdd"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b3a371160dc7cd3d80b29ff1b49918a3b4617ac3ef9c9b9a54a6a55688c5239b","downloaded_from":"2026-09-09T23:04:57.683Z","last_downloaded_at":"2026-09-09T23:04:57.683Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476146","source_sha256":"3c6b7c4394ac229df23250e242d4029a897a65ab6fcf704405a779327dc19fdd"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b3a371160dc7cd3d80b29ff1b49918a3b4617ac3ef9c9b9a54a6a55688c5239b","downloaded_from":"2026-09-09T23:04:57.683Z","last_downloaded_at":"2026-09-09T23:04:57.683Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476146","source_sha256":"3c6b7c4394ac229df23250e242d4029a897a65ab6fcf704405a779327dc19fdd"}}