# ASC 815-20-10: Derivatives and Hedging — Hedging—General — 10 Objectives

Source: FASB Accounting Standards Codification, Basic View

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## ASC 815-20-10: 10 Objectives

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##### [815-20-10-1](https://asc.understandingaccounting.org/asc/815/20/#815-20-10-1)

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Paragraph [815-10-10-1](https://asc.understandingaccounting.org/asc/815/10/#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 explains that one aspect of qualification should be an assessment of the expectation of effective offsetting changes in [fair values](https://asc.understandingaccounting.org/glossary/f/#fair-value "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.") or cash flows during the term of the hedge for the risk being hedged.