# ASC 815-45-15: Derivatives and Hedging — Weather Derivatives — 15 Scope and Scope Exceptions

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/815/45/#15-scope-and-scope-exceptions)

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## ASC 815-45-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/815/45/#15-scope-and-scope-exceptions)

SEC content: no

#### Entities

##### [815-45-15-1](https://asc.understandingaccounting.org/asc/815/45/#815-45-15-1)

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The guidance in this Subtopic applies to all entities.

#### Instruments

##### [815-45-15-2](https://asc.understandingaccounting.org/asc/815/45/#815-45-15-2)

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Except as noted in this paragraph, the guidance in this Subtopic applies to all [weather derivatives](https://asc.understandingaccounting.org/glossary/w/#weather-derivative "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.") that are not exchange-traded (and, therefore, not subject to the requirements of Subtopic 815-10). The guidance in this Subtopic does not apply to contracts written by insurance entities that entitle the holder to be compensated only if, as a result of an insurable event, the holder incurs a liability or there is an adverse change in the value of a specific asset or liability for which the holder is at risk.