{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/815/45/#05-overview-and-background","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":"815-45","subtopic_title":"Weather Derivatives","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"815-45-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic addresses the financial accounting and reporting for <a href=\"/glossary/w/#weather-derivative\" class=\"term\" title=\"A forward-based or option-based contract for which settlement is based on a climatic or geological variable. One example of such a variable is the occurrence or nonoccurrence of a specified amount of snow at a specified location within a specified period of time.\"><span>weather derivatives</span></a> within its scope.</div></div>","snippet":"This Subtopic addresses the financial accounting and reporting for weather derivatives within its scope.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c94046788c06701ee141784f206a6eca9346831555968b1f4cb7428933803a02","downloaded_from":"2026-09-10T01:39:29.542Z","last_downloaded_at":"2026-09-10T01:39:29.542Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481055","source_sha256":"fb5ad15472af78fa2883b41617e5e2c63f0f8421c7d4fd3d3e22e047e2013e6e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de89fb6cf844633893fe45c8de405d851b570e0f1dd37a3d9b13ebf8bb827227","downloaded_from":"2026-09-10T01:39:29.542Z","last_downloaded_at":"2026-09-10T01:39:29.542Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481055","source_sha256":"fb5ad15472af78fa2883b41617e5e2c63f0f8421c7d4fd3d3e22e047e2013e6e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4a9738446709538951a2d8d384bbb155297fd757499500476ff43ea65809edd7","downloaded_from":"2026-09-10T01:39:29.542Z","last_downloaded_at":"2026-09-10T01:39:29.542Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481055","source_sha256":"fb5ad15472af78fa2883b41617e5e2c63f0f8421c7d4fd3d3e22e047e2013e6e"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4a9738446709538951a2d8d384bbb155297fd757499500476ff43ea65809edd7","downloaded_from":"2026-09-10T01:39:29.542Z","last_downloaded_at":"2026-09-10T01:39:29.542Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481055","source_sha256":"fb5ad15472af78fa2883b41617e5e2c63f0f8421c7d4fd3d3e22e047e2013e6e"}}