{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/330/10/#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":"330","topic_title":"Inventory","subtopic":"330-10","subtopic_title":"Overall","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":"330-10-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Scope Section of the Overall Subtopic establishes the pervasive scope for the <a href=\"/glossary/i/#inventory\" class=\"term\" title=\"The aggregate of those items of tangible personal property that have any of the following characteristics: Held for sale in the ordinary course of business In process of production for such sale To be currently consumed in the production of goods or services to be available for sale. The term inventory embraces goods awaiting sale (the merchandise of a trading concern and the finished goods of a manufacturer), goods in the course of production (work in process), and goods to be consumed directly or indirectly in production (raw materials and supplies). This definition of inventories excludes long-term assets subject to depreciation accounting, or goods which, when put into use, will be so classified. The fact that a depreciable asset is retired from regular use and held for sale does not indicate that the item should be classified as part of the inventory. Raw materials and supplies purchased for production may be used or consumed for the construction of long-term assets or other purposes not related to production, but the fact that inventory items representing a small portion of the total may not be absorbed ultimately in the production process does not require separate classification. By trade practice, operating materials and supplies of certain types of entities such as oil producers are usually treated as inventory.\"><span>Inventory</span></a> Topic.</div></div>","snippet":"The Scope Section of the Overall Subtopic establishes the pervasive scope for the Inventory Topic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9c1178cfb0beefe98d3785c0d02a08407c75934b3a053819f5a2570f480fcb73","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483008","source_sha256":"e142d07b99f510f52202ee1f6af9e339180aa2170d65b370b3ff18aedf4ae89a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:22bd82b307ac7039ea9fa9cf62446c5b95ae467b7a522cffd56c4bbd5a68ddbe","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483008","source_sha256":"e142d07b99f510f52202ee1f6af9e339180aa2170d65b370b3ff18aedf4ae89a"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"330-10-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Inventory Topic applies to all entities, with the following qualifications.</div></div>","snippet":"The guidance in the Inventory Topic applies to all entities, with the following qualifications.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5d07dfb2c0f9635a18c8243c210ce2e68ce4418e50f6d902e015315d27bf5ca3","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483008","source_sha256":"e142d07b99f510f52202ee1f6af9e339180aa2170d65b370b3ff18aedf4ae89a"}},{"citation":"330-10-15-3","para":"15-3","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in this Topic is not necessarily <span class=\"sfragment\" id=\"sfr_63E44570-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> applicable to the following entities: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\">Not-for-profit entities (NFPs)</div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_63E44710-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Regulated utilities. </span></span></div></li></ol></div></div>","snippet":"The guidance in this Topic is not necessarily applicable to the following entities:\n(a) Not-for-profit entities (NFPs)\n(b) Regulated utilities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50da4421631e7e4ce16d4977f70b8b00ad332092f6890371ddea9203f3e68630","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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