{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/815/20/#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":"815","topic_title":"Derivatives and Hedging","subtopic":"815-20","subtopic_title":"Hedging—General","section":{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"815-20-10-1","para":"10-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">Paragraph <a href=\"/asc/815/10/#815-10-10-1\" class=\"xref\">815-10-10-1</a> states that <span class=\"sfragment\" id=\"sfr_A67ACAD9-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">one cornerstone underlying the guidance in this Topic is that </span></span><span class=\"sfragment\" id=\"sfr_A67ACC9A-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">special accounting for items designated as being hedged should be provided only for qualifying items. That paragraph explains that one aspect of qualification should be an assessment of the expectation of effective offsetting changes in <a href=\"/glossary/f/#fair-value\" class=\"term\" title=\"The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.\"><span>fair values</span></a> or cash flows during the term of the hedge for the risk being hedged. </span></span></div></div>","snippet":"Paragraph 815-10-10-1 states that one cornerstone underlying the guidance in this Topic is that special accounting for items designated as being hedged should be provided only for qualifying items. That paragraph explain…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1835044d4b19fbb2eb1108c1710e6d5dc748e2a7bf61fad3e0d8e1e1cee8ea77","downloaded_from":"2026-09-10T01:36:38.819Z","last_downloaded_at":"2026-09-10T01:36:38.819Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480769","source_sha256":"0271db7a08ab24ac909bd1814c75ab1ac0d1bf741ddb3863849b456d28881605"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:77d700df2f6cb9b36ea28dcc47f347da0e8cd4b6994f7a971be077ef5c4e1a10","downloaded_from":"2026-09-10T01:36:38.819Z","last_downloaded_at":"2026-09-10T01:36:38.819Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480769","source_sha256":"0271db7a08ab24ac909bd1814c75ab1ac0d1bf741ddb3863849b456d28881605"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6c1ba0f71948097318dc9dd5c9454424c366e4ec8c0c798ae83ea059ac048111","downloaded_from":"2026-09-10T01:36:38.819Z","last_downloaded_at":"2026-09-10T01:36:38.819Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480769","source_sha256":"0271db7a08ab24ac909bd1814c75ab1ac0d1bf741ddb3863849b456d28881605"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6c1ba0f71948097318dc9dd5c9454424c366e4ec8c0c798ae83ea059ac048111","downloaded_from":"2026-09-10T01:36:38.819Z","last_downloaded_at":"2026-09-10T01:36:38.819Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480769","source_sha256":"0271db7a08ab24ac909bd1814c75ab1ac0d1bf741ddb3863849b456d28881605"}}