{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/450/10/#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":"450","topic_title":"Contingencies","subtopic":"450-10","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":"450-10-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Scope Section of the Overall Subtopic establishes the pervasive scope for all Subtopics of the Contingencies Topic. Unless explicitly addressed within specific Subtopics, the following scope guidance applies to all Subtopics of the Contingencies Topic.</div></div>","snippet":"The Scope Section of the Overall Subtopic establishes the pervasive scope for all Subtopics of the Contingencies Topic. Unless explicitly addressed within specific Subtopics, the following scope guidance applies to all S…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8fc9c5fa8333d379398c7536a10553a27d452e9fe8264628e77319e965daccc2","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1aece6a591e07742d9505796d34db6c6573573ae1bc7026f40bd2ee583e01bc4","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"450-10-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Contingencies Topic applies to all entities.</div></div>","snippet":"The guidance in the Contingencies Topic applies to all entities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6d8eb0edc7f20ac82989abf9ffd6e21d92ae329e42e8391104657917068abd54","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e9413c58e2072cea1d7685b1f6628c02a062f8ba757a4455e16aff59c3aca00","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"450-10-15-2A","para":"15-2A","html":"<div class=\"asc-body\"><div class=\"norm-text\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"GUID-788346DA-516E-40D7-B82B-35125AE63B2C\"><span class=\"sfragment-source\">The guidance in the Contingencies Topic does not apply to the recognition and initial measurement of assets or liabilities arising from contingencies that are measured at fair value or assets arising from contingencies measured at an amount other than fair value on the <a href=\"/glossary/a/#acquisition-date\" class=\"term\" title=\"The date on which the acquirer obtains control of the acquiree.\"><span>acquisition date</span></a> in a business combination </span></span><span class=\"sfragment\" id=\"GUID-F6BE5D6D-61AC-4E7E-8B4F-2B6A753C3632\"><span class=\"sfragment-source\">under the requirements of Subtopic <a altsource=\"GUID-4C20CF40-DD8D-4F61-94A7-35C477A5F96C.ditamap\" class=\"ditamap\">805-20</a>, on the acquisition date in </span></span><span class=\"sfragment\" id=\"GUID-5996410A-B197-4D3E-AE77-C6AC1D7504CD\"><span class=\"sfragment-source\">an <a href=\"/glossary/a/#acquisition-by-a-not-for-profit-entity\" class=\"term\" title=\"A transaction or other event in which a not-for-profit acquirer obtains control of one or more nonprofit activities or businesses and initially recognizes their assets and liabilities in the acquirer's financial statements. When applicable guidance in Topic 805 is applied by a not-for-profit entity, the term business combination has the same meaning as this term has for a for-profit entity. Likewise, a reference to business combinations in guidance that links to Topic 805 has the same meaning as a reference to acquisitions by not-for-profit entities.\"><span>acquisition by a not-for-profit entity</span></a> under the requirements of Subtopic <a altsource=\"GUID-8F421D1C-F467-4235-96C7-D5FDABFEFC13.ditamap\" class=\"ditamap\">958-805</a>, </span></span><span class=\"sfragment\" id=\"GUID-5601690A-60FA-4099-8E6E-FD23C1364187\"><span class=\"sfragment-source\">or on the <a href=\"/glossary/f/#formation-date\" class=\"term\" title=\"The formation date of a joint venture is the date on which an entity initially meets the definition of a joint venture, which is not necessarily the legal entity formation date. The formation date is the measurement date for the formation transaction. If multiple arrangements are accounted for as a single transaction that establishes the formation of a joint venture, the formation date is the measurement date for all arrangements that form part of the single formation transaction.\"><span>formation date</span></a> in a <a href=\"/glossary/j/#joint-venture\" class=\"term\" title=\"An entity owned and operated by a small group of businesses (the joint venturers) as a separate and specific business or project for the mutual benefit of the members of the group. A government may also be a member of the group. The purpose of a joint venture frequently is to share risks and rewards in developing a new market, product, or technology; to combine complementary technological knowledge; or to pool resources in developing production or other facilities. A joint venture also usually provides an arrangement under which each joint venturer may participate, directly or indirectly, in the overall management of the joint venture. Joint venturers thus have an interest or relationship other than as passive investors. An entity that is a subsidiary of one of the joint venturers is not a joint venture. The ownership of a joint venture seldom changes, and its equity interests usually are not traded publicly. A minority public ownership, however, does not preclude an entity from being a joint venture. As distinguished from a corporate joint venture, a joint venture is not limited to corporate entities.\"><span>joint venture</span></a> formation under the requirements of Subtopic <a altsource=\"GUID-CE09B826-CDC8-43FF-A1EF-FB86248E753A.ditamap\" class=\"ditamap\">805-60</a>. </span></span><span class=\"sfragment\" id=\"GUID-4B698D20-E90C-4474-B185-68EB5C7B961E\"><span class=\"sfragment-source\">Those Subtopics provide the recognition and initial measurement requirements for assets and liabilities arising from contingencies measured at fair value and for assets arising from contingencies measured at an amount other than fair value as part of a business combination, an acquisition by a not-for-profit entity, </span></span><span class=\"sfragment\" id=\"GUID-D4162852-F734-4279-A6E6-D879B4C7C934\"><span class=\"sfragment-source\">or a joint venture formation. </span></span></div></div></div>","snippet":"The guidance in the Contingencies Topic does not apply to the recognition and initial measurement of assets or liabilities arising from contingencies that are measured at fair value or assets arising from contingencies m…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:29d8a24ce6f45a493f4480db3f03a45d62710644d7a3cc28081e8e55bd71c830","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3fbca5f90d013bc72755819086925503ba244d5c16e66c013608634610ea1882","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}},{"block":null,"heading":"Other Considerations","paragraphs":[{"citation":"450-10-15-3","para":"15-3","html":"<div class=\"asc-body\"><div class=\"norm-text\">In some cases, there may be uncertainty about whether a situation is a <a href=\"/glossary/c/#contingency\" class=\"term\" title=\"An existing condition, situation, or set of circumstances involving uncertainty as to possible gain (gain contingency) or loss (loss contingency) to an entity that will ultimately be resolved when one or more future events occur or fail to occur.\"><span>contingency</span></a>. Section <a altsource=\"GUID-6A3C6D72-47FD-4CFB-822D-B134C9EDDDE5.ditamap\" class=\"ditamap\">450-10-55</a> includes several situations that are not contingencies, and thus are outside the scope of the Contingencies Topic.</div></div>","snippet":"In some cases, there may be uncertainty about whether a situation is a contingency. Section 450-10-55 includes several situations that are not contingencies, and thus are outside the scope of the Contingencies Topic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d4d79207c2ea93050c4e358ac138c006ecff534a3ea3ce61ef34a7340339b98e","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e4c7bf21777996cc0b113799602a69041da891399ca2feac3bd4bbb924ba666c","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:812c92cee2e8f5e15195e83500493732c46f77ae84e865e184f11c4627e0739c","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:812c92cee2e8f5e15195e83500493732c46f77ae84e865e184f11c4627e0739c","downloaded_from":"2026-09-10T00:26:53.128Z","last_downloaded_at":"2026-09-10T00:26:53.128Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482935","source_sha256":"dbb11eeea9ae730a3470a37fdac9cdee84d810320750d558c94928df7d4c66e6"}}