# ASC 405-20-15: Liabilities — Extinguishments of Liabilities — 15 Scope and Scope Exceptions

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/405/20/#15-scope-and-scope-exceptions)

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## ASC 405-20-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/405/20/#15-scope-and-scope-exceptions)

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#### Entities

##### [405-20-15-1](https://asc.understandingaccounting.org/asc/405/20/#405-20-15-1)

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The guidance in this Subtopic applies to all entities.

#### Transactions

##### [405-20-15-2](https://asc.understandingaccounting.org/asc/405/20/#405-20-15-2)

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The guidance in this Subtopic applies to extinguishments of all liabilities, including both financial and nonfinancial liabilities, unless derecognition of a financial or nonfinancial liability is addressed in another Topic (for example, the derecognition guidance for gaming chips in Subtopic 924-405 on casinos or the breakage guidance in Topic 606 on revenue from contracts with customers). Derivative instruments that are nonfinancial liabilities (for example, a written commodity option) are included in the scope of this Subtopic.