{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/360/10/#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":"360","topic_title":"Property, Plant, and Equipment","subtopic":"360-10","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":"360-10-15-1","para":"15-1","html":"
The General Subsection of this Section establishes the pervasive scope for this Subtopic, with specific exceptions noted in the other Subsections of this Section.
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The guidance in this Subtopic applies to all entities.
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The Impairment or Disposal of Long-Lived Assets Subsections follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Subtopic, see paragraph 360-10-15-1, with specific transaction exceptions noted below.
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The guidance in the Impairment or Disposal of Long-Lived Assets Subsections applies to the following transactions and activities:
  1. a
    Except as indicated in (b) and the following paragraph, all of the transactions and activities related to recognized long-lived assets of an entity to be held and used or to be disposed of, including:
    1. 1
      Right-of-use assets of lessees
    2. 2
      Long-lived assets of lessors subject to operating leases
    3. 3
      Proved oil and gas properties that are being accounted for using the successful-efforts method of accounting
    4. 4
      Long-term prepaid assets.
  2. b
    The following transactions and activities related to assets and liabilities that are considered part of an asset group or a disposal group:
    1. 1
      If a long-lived asset (or assets) is part of a group that includes other assets and liabilities not covered by the Impairment or Disposal of Long-Lived Assets Subsections, the guidance in the Impairment or Disposal of Long-Lived Assets Subsections applies to the group. In those situations, the unit of accounting for the long-lived asset is its group. For a long-lived asset or assets to be held and used, that group is referred to as an asset group. For a long-lived asset or assets to be disposed of by sale or otherwise, that group is referred to as a disposal group. Examples of liabilities included in a disposal group are legal obligations that transfer with a long-lived asset, such as certain environmental obligations, and obligations that, for business reasons, a potential buyer would prefer to settle when assumed as part of a group, such as warranty obligations that relate to an acquired customer base.
    2. 2
      The guidance in the Impairment or Disposal of Long-Lived Assets Subsections does not change generally accepted accounting principles (GAAP) applicable to those other individual assets (such as accounts receivable and inventory) and liabilities (such as accounts payable, long-term debt, and asset retirement obligations) not covered by the Impairment or Disposal of Long-Lived Assets Subsections that are included in such groups.
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The guidance in the Impairment or Disposal of Long-Lived Assets Subsections does not apply to the following transactions and activities:
  1. a
    Goodwill
  2. b
    Intangible assets not being amortized that are to be held and used
  3. c
    Servicing assets
  4. d
    Financial instruments, including investments in equity securities accounted for under the cost or equity method
  5. e
    Deferred policy acquisition costs
  6. f
    Deferred tax assets
  7. g
    Unproved oil and gas properties that are being accounted for using the successful-efforts method of accounting
  8. h
    Oil and gas properties that are accounted for using the full-cost method of accounting as prescribed by the 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)
  9. i
    Certain other long-lived assets for which the accounting is prescribed elsewhere in the standards:
    1. 1
      For guidance on financial reporting in the record and music industry, see Topic 928.
    2. 2
      For guidance on financial reporting in the broadcasting industry, see Topic 920.
    3. 3
      For guidance on accounting for the costs of computer software to be sold, leased, or otherwise marketed, see Subtopic 985-20.
    4. 4
      For guidance on accounting for abandonments and disallowances of plant costs for regulated entities, see Subtopic 980-360.
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Entities that hold collections shall follow the accounting and disclosure requirements in Subtopic 958-360 on not-for-profit entities—property, plant, and equipment.
","snippet":"Entities that hold collections shall follow the accounting and disclosure requirements in Subtopic 958-360 on not-for-profit entities—property, plant, and equipment.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a68401f87d7b5b0e8dde4600cb79555d43aec46bdbcc4b74b40a81c8e75f083a","downloaded_from":"2026-09-10T00:05:41.355Z","last_downloaded_at":"2026-09-10T00:05:41.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482309","source_sha256":"2af9b44e94ba38fcade68d6bfd9beabaf5d487de740d606cc482ce71a6d15b92"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d7508f3d0094ddf5f8ce9674e2eba328a3943c3399fa8149c06e515f34daaa81","downloaded_from":"2026-09-10T00:05:41.355Z","last_downloaded_at":"2026-09-10T00:05:41.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482309","source_sha256":"2af9b44e94ba38fcade68d6bfd9beabaf5d487de740d606cc482ce71a6d15b92"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9163de3d09d47a47bdf17ca71d3f38e9b89380133e369bd579257edb3bf74140","downloaded_from":"2026-09-10T00:05:41.355Z","last_downloaded_at":"2026-09-10T00:05:41.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482309","source_sha256":"2af9b44e94ba38fcade68d6bfd9beabaf5d487de740d606cc482ce71a6d15b92"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9163de3d09d47a47bdf17ca71d3f38e9b89380133e369bd579257edb3bf74140","downloaded_from":"2026-09-10T00:05:41.355Z","last_downloaded_at":"2026-09-10T00:05:41.355Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482309","source_sha256":"2af9b44e94ba38fcade68d6bfd9beabaf5d487de740d606cc482ce71a6d15b92"}}