# ASC 815-958-05: Derivatives and Hedging — Not-for-Profit Entities — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/815/958/#05-overview-and-background)

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.

Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure.

Source downloaded (UTC): 2026-09-10T01:41:11.113Z to 2026-09-10T01:41:11.113Z

Record version: sha256:200ced7576ed6227a5651390e7a9e82638c3232dfba73635a3003efbf57eda02

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 815-958-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/815/958/#05-overview-and-background)

SEC content: no

##### [815-958-05-1](https://asc.understandingaccounting.org/asc/815/958/#815-958-05-1)

Pending content: yes

Source downloaded (UTC): 2026-09-10T01:41:11.113Z to 2026-09-10T01:41:11.113Z

Record version: sha256:7ea79dc102c905015c0f4e72cce6f35c363e9d7b4ac6d1b77e9baf4b7615328c

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


This Subtopic only provides a link to guidance on embedded derivatives in an obligation arising from an irrevocable split-interest agreement.

Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance:

[105-10-65-10](https://asc.understandingaccounting.org/asc/105/10/#105-10-65-10)This Subtopic provides a link to guidance on embedded derivatives in an obligation arising from an irrevocable split-interest agreement and guidance on hedge documentation and hedge effectiveness assessments for certain not-for-profit entities.