{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/460/10/#10-objectives","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":"460","topic_title":"Guarantees","subtopic":"460-10","subtopic_title":"Overall","section":{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"460-10-10-1","para":"10-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_5AAE750F-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The objective of the Guarantees Topic is to achieve transparency in a guarantor's financial reporting about the obligations and risks arising from issuing guarantees in the following two ways: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_5AAE761A-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">To provide informative disclosures about the nature and amount of guarantees in the financial statements of guarantors </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_5AAE76ED-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">To help ensure comparability of financial reporting for guarantees issued with a separately identified premium and guarantees issued without a separately identified premium by requiring recognition of a liability for the obligation incurred by a guarantor in issuing a guarantee. </span></span></div></li></ol></div></div>","snippet":"The objective of the Guarantees Topic is to achieve transparency in a guarantor's financial reporting about the obligations and risks arising from issuing guarantees in the following two ways:\n(a) To provide informative …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ff76291e9fe0d8319f1d10b97625a2d12156d5058ac6282b399d5f2a20a87057","downloaded_from":"2026-09-10T00:29:31.408Z","last_downloaded_at":"2026-09-10T00:29:31.408Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482137","source_sha256":"f82589c6ff13d6e10b600f68a6eb3127dd4a2ee32117dcd2dd17c0f725645912"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e1a072b0cc27a78be1c98e7617bcfc2a6e9bc4c000a175367b5412189c3bf50","downloaded_from":"2026-09-10T00:29:31.408Z","last_downloaded_at":"2026-09-10T00:29:31.408Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482137","source_sha256":"f82589c6ff13d6e10b600f68a6eb3127dd4a2ee32117dcd2dd17c0f725645912"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c71a79b7a68abc5868923070a33ce1ef992107fc8573d036fb4982298b81131e","downloaded_from":"2026-09-10T00:29:31.408Z","last_downloaded_at":"2026-09-10T00:29:31.408Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482137","source_sha256":"f82589c6ff13d6e10b600f68a6eb3127dd4a2ee32117dcd2dd17c0f725645912"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c71a79b7a68abc5868923070a33ce1ef992107fc8573d036fb4982298b81131e","downloaded_from":"2026-09-10T00:29:31.408Z","last_downloaded_at":"2026-09-10T00:29:31.408Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482137","source_sha256":"f82589c6ff13d6e10b600f68a6eb3127dd4a2ee32117dcd2dd17c0f725645912"}}