{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/815/944/#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":"815-944","subtopic_title":"Financial Services—Insurance","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"815-944-05-1","para":"05-1","html":"
Topic 815 provides guidance on accounting for and financial reporting of derivative instruments and hedging activities. This Subtopic includes guidance on some specific issues. The guidance in this Subtopic is presented in the following two Subsections:
  1. a
    General
  2. b
    Long-Duration Contracts.
","snippet":"Topic 815 provides guidance on accounting for and financial reporting of derivative instruments and hedging activities. This Subtopic includes guidance on some specific issues. The guidance in this Subtopic is presented …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:67f827268ca74d93f53e30110145d8f7fef2425561c47b314a69248d39bc64c5","downloaded_from":"2026-09-10T01:40:28.000Z","last_downloaded_at":"2026-09-10T01:40:28.000Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477606","source_sha256":"16b80c5bce830ebaab2ec4850c895faf00d772138f81b7447842e39da66917d0"}},{"citation":"815-944-05-1A","para":"05-1A","html":"
The Short-Duration Contracts Subsections of this Subtopic provide insurance entities with references in Section 944-815-60 to guidance on accounting for and financial reporting of derivative instruments and hedging activities involving short-duration contracts.
","snippet":"The Short-Duration Contracts Subsections of this Subtopic provide insurance entities with references in Section 944-815-60 to guidance on accounting for and financial reporting of derivative instruments and hedging activ…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7d18eeb15da026e34acbfbbe86b5a4714076bffd06c8008cb889690c37e57cf6","downloaded_from":"2026-09-10T01:40:28.000Z","last_downloaded_at":"2026-09-10T01:40:28.000Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477606","source_sha256":"16b80c5bce830ebaab2ec4850c895faf00d772138f81b7447842e39da66917d0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:91df83a01bf7d94cd85e8579fa5d507e22bee079593bab71d8d51c2364179069","downloaded_from":"2026-09-10T01:40:28.000Z","last_downloaded_at":"2026-09-10T01:40:28.000Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477606","source_sha256":"16b80c5bce830ebaab2ec4850c895faf00d772138f81b7447842e39da66917d0"}},{"block":"Long-Duration Contracts","heading":null,"paragraphs":[{"citation":"815-944-05-2","para":"05-2","html":"
The Long-Duration Contracts Subsections of this Subtopic provide insurance entities guidance on accounting for and financial reporting of derivative instruments and hedging activities involving long-duration contracts.
","snippet":"The Long-Duration Contracts Subsections of this Subtopic provide insurance entities guidance on accounting for and financial reporting of derivative instruments and hedging activities involving long-duration contracts.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:72e60204a441bb4f43aea5d4fa191a4b9431d37637af1c44a740773b30253529","downloaded_from":"2026-09-10T01:40:28.000Z","last_downloaded_at":"2026-09-10T01:40:28.000Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477606","source_sha256":"16b80c5bce830ebaab2ec4850c895faf00d772138f81b7447842e39da66917d0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:02bc9e72525f70bd4480621fe8648ff1f38b7f758e9ad09bf955bbf924a43a11","downloaded_from":"2026-09-10T01:40:28.000Z","last_downloaded_at":"2026-09-10T01:40:28.000Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477606","source_sha256":"16b80c5bce830ebaab2ec4850c895faf00d772138f81b7447842e39da66917d0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6d3764d95520b5b550e2bc2bba5e6bbc9b4b8a77c26c983e1a8d27dd4fefb81c","downloaded_from":"2026-09-10T01:40:28.000Z","last_downloaded_at":"2026-09-10T01:40:28.000Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477606","source_sha256":"16b80c5bce830ebaab2ec4850c895faf00d772138f81b7447842e39da66917d0"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6d3764d95520b5b550e2bc2bba5e6bbc9b4b8a77c26c983e1a8d27dd4fefb81c","downloaded_from":"2026-09-10T01:40:28.000Z","last_downloaded_at":"2026-09-10T01:40:28.000Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477606","source_sha256":"16b80c5bce830ebaab2ec4850c895faf00d772138f81b7447842e39da66917d0"}}