{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/470/10/#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":"470","topic_title":"Debt","subtopic":"470-10","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":"Entities","paragraphs":[{"citation":"470-10-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in this Subtopic applies to all entities.</div> <div class=\"div pending-text\" id=\"d3e392-112597__GUID-A9C7C366-7758-44DF-A095-D52BDCAFF63E\"> <div class=\"div date-effective\"><span class=\"transition-header\">Transition date:</span><span class=\"p-alphabet\">(P) June 30, 2027; (N) June 30, 2027</span><span class=\"transition-header pipe-separator\">Transition guidance:</span></div> <a href=\"/asc/105/10/#105-10-65-7\" class=\"xref\">105-10-65-7</a> The guidance in this Subtopic applies to all entities<span class=\"sfragment\" id=\"GUID-330655E9-80F1-46B2-BD67-2EE0B72372F9\"><span class=\"sfragment-source\">, excluding paragraph <a href=\"/asc/470/10/#470-10-50-7\" class=\"xref\">470-10-50-7</a>, which applies to <a href=\"/glossary/p/#public-business-entity\" class=\"term\" title=\"A public business entity is a business entity meeting any one of the criteria below. Neither a not-for-profit entity nor an employee benefit plan is a business entity. It is required by the U.S. Securities and Exchange Commission (SEC) to file or furnish financial statements, or does file or furnish financial statements (including voluntary filers), with the SEC (including other entities whose financial statements or financial information are required to be or are included in a filing). It is required by the Securities Exchange Act of 1934 (the Act), as amended, or rules or regulations promulgated under the Act, to file or furnish financial statements with a regulatory agency other than the SEC. It is required to file or furnish financial statements with a foreign or domestic regulatory agency in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer. It has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an over-the-counter market. It has one or more securities that are not subject to contractual restrictions on transfer, and it is required by law, contract, or regulation to prepare U.S. GAAP financial statements (including notes) and make them publicly available on a periodic basis (for example, interim or annual periods). An entity must meet both of these conditions to meet this criterion. An entity may meet the definition of a public business entity solely because its financial statements or financial information is included in another entity's filing with the SEC. In that case, the entity is only a public business entity for purposes of financial statements that are filed or furnished with the SEC.\"><span>public business entities</span></a> only.</span></span> </div> </div>","snippet":"The guidance in this Subtopic applies to all entities. Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance: 105-10-65-7 The guidance in this Subtopic applies to all entities, excluding paragraph 470-1…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:51e74ca570f0761452b402f283fd0c17552504f82e0c6858fc19f251ab9f5fc9","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f30fc54d207eb6a9b9dc5fe7c3524ceaf87467c9f501496619958c3b08f6a123","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"470-10-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_5D3C0BB4-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The guidance in this Subtopic that relates to separate classification of current assets and current liabilities (that is, a classified balance sheet) </span></span> <span class=\"sfragment\" id=\"sfr_5D3C0CF1-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">applies only when an entity is preparing a classified balance sheet for financial accounting and reporting purposes. </span></span> </div> </div>","snippet":"The guidance in this Subtopic that relates to separate classification of current assets and current liabilities (that is, a classified balance sheet) applies only when an entity is preparing a classified balance sheet fo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1120ddffb4be4e72a7a7661b63991136337614c8b5ff061eb562861e3cf92e1a","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e2a272d019daff0fba283313334acf5af46c73526eacd8ef52a7ea0accef5dd1","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:703e7a8d0955e29d4fb7ff64ad2eb906ec83c428f3a79f0f25087518d0d14b5d","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:703e7a8d0955e29d4fb7ff64ad2eb906ec83c428f3a79f0f25087518d0d14b5d","downloaded_from":"2026-09-10T00:30:19.735Z","last_downloaded_at":"2026-09-10T00:30:19.735Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481232","source_sha256":"f211191d85935480a52826a70c1fd34b52db7277802f90bf95b5f62971942a6d"}}