# ASC 460-10-10: Guarantees — Overall — 10 Objectives

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/460/10/#10-objectives)

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## ASC 460-10-10: 10 Objectives

[Read section](https://asc.understandingaccounting.org/asc/460/10/#10-objectives)

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##### [460-10-10-1](https://asc.understandingaccounting.org/asc/460/10/#460-10-10-1)

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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:

1.  a
    
    To provide informative disclosures about the nature and amount of guarantees in the financial statements of guarantors
    
2.  b
    
    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.