# ASC 815-958: Derivatives and Hedging — Not-for-Profit Entities Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/815/958/) 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): 2026-09-10T01:41:09.248Z to 2026-09-10T01:41:21.202Z Record version: sha256:dd846be6223607636c150fe1380a7cb7123286bdcb7913eaf2b12b3e5763cc44 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 815-958: Derivatives and Hedging — Not-for-Profit Entities ### Machine-generated study aids ```json { "summary": "ASC 815-958 is a link-only subtopic: it contains no substantive rules of its own but points not-for-profit entities to the derivatives guidance that applies to them. It directs readers to 958-30-25-7 through 25-14 to decide whether an obligation arising from an irrevocable split-interest agreement contains an embedded derivative requiring bifurcation under 815-15-25-1, and (upon transition) to 815-20-25-3A and 815-20-25-143 for the timing of hedge documentation and hedge effectiveness assessments by certain NFPs.", "key_points": [ "The Subtopic's stated purpose is only to provide links to other guidance — on embedded derivatives in irrevocable split-interest agreement obligations and, upon transition, on NFP hedge documentation/effectiveness timing (815-958-05-1).", "Scope follows the Overall Not-for-Profit Subtopic, Section 958-10-15 (815-958-15-1).", "To determine whether an obligation arising from an irrevocable split-interest agreement contains an embedded derivative warranting separate accounting under 815-15-25-1, apply 958-30-25-7 through 25-14 (815-958-25-1).", "Upon transition, see 815-20-25-3A and 815-20-25-143 regarding the timing of hedge documentation and hedge effectiveness assessments for certain not-for-profit entities (815-958-25-2).", "Example 2 at 958-30-55-6 through 55-29 provides eight cases illustrating how 958-30-25-7 through 25-14 apply to various split-interest agreements (815-958-55-1).", "The transition date for the added hedging-link content is December 16, 2026, with transition guidance in 105-10-65-10." ], "categories": [ "Derivatives and hedging", "Not-for-profit", "Recognition", "Financial instruments" ], "audience_level": "intermediate", "student_note": "This subtopic is a signpost, not a rulebook — the real analysis lives in 958-30 (split-interest agreements) and 815-15 (bifurcation). A common mistake is to assume NFPs have special derivative measurement rules; the only NFP-specific relief here is the deferred timing of hedge documentation and effectiveness assessments.", "related_topics": [ "958-30", "815-15", "815-20", "958-10", "815-10" ], "key_concepts": [ "embedded derivative", "irrevocable split-interest agreement", "bifurcation", "hedge documentation", "hedge effectiveness assessment", "not-for-profit entity", "link-only subtopic" ] } ``` Source downloaded (UTC): 2026-09-10T01:41:09.248Z to 2026-09-10T01:41:09.248Z Record version: sha256:91a7ffbd89aed241b39ed4ef66a4eb8ec00553e0a4d49b81d96cbc3d214d672f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 815-958-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/815/958/#00-status) SEC content: no ##### [815-958-00-1](https://asc.understandingaccounting.org/asc/815/958/#815-958-00-1) Pending content: no Source downloaded (UTC): 2026-09-10T01:41:09.248Z to 2026-09-10T01:41:09.248Z Record version: sha256:58aa1e1abf37606e934b1fd910e7e26093a0bf726b3042d84a57a26956e6181b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
958-815-05-1AmendedAccounting Standards Update No. 2025-1212/17/2025
958-815-25-1AmendedAccounting Standards Update No. 2025-1212/17/2025
958-815-25-2AddedAccounting Standards Update No. 2025-1212/17/2025
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. Source downloaded (UTC): 2026-09-10T01:41:13.891Z to 2026-09-10T01:41:13.891Z Record version: sha256:0495f73f53e98ff4c1e3c0f2f4f57f8227af414cf56bc284f1308411c515581a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 815-958-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/815/958/#15-scope-and-scope-exceptions) SEC content: no #### Overall Guidance ##### [815-958-15-1](https://asc.understandingaccounting.org/asc/815/958/#815-958-15-1) Pending content: no Source downloaded (UTC): 2026-09-10T01:41:13.891Z to 2026-09-10T01:41:13.891Z Record version: sha256:f3a983bcbdc662d3ac2d96dd85c18fa994478f54b5f0cde955e731f099482b0d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic (see Section 958-10-15). Source downloaded (UTC): 2026-09-10T01:41:17.922Z to 2026-09-10T01:41:17.922Z Record version: sha256:84f8c7ce56030ca2858cad11b4d8853867aa9c853b8bd6d4ee089743646a363f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 815-958-25: 25 Recognition [Read section](https://asc.understandingaccounting.org/asc/815/958/#25-recognition) SEC content: no ##### [815-958-25-1](https://asc.understandingaccounting.org/asc/815/958/#815-958-25-1) Pending content: yes Source downloaded (UTC): 2026-09-10T01:41:17.922Z to 2026-09-10T01:41:17.922Z Record version: sha256:5989292a7e38c0f3c1cda36a245e91179f21d3f6a5848061a192913d798a5360 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See paragraphs [958-30-25-7 through 25-14](https://asc.understandingaccounting.org/asc/958/30/#958-30-25-7) to determine whether an obligation arising from an irrevocable split-interest agreement contains an embedded derivative that warrants separate accounting under paragraph [815-15-25-1](https://asc.understandingaccounting.org/asc/815/15/#815-15-25-1). 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)
Editor's Note: The heading noted below will be added upon transition to precede paragraph 958-815-25-1. The content of the paragraph will not change.
> Embedded Derivatives
See paragraphs [958-30-25-7 through 25-14](https://asc.understandingaccounting.org/asc/958/30/#958-30-25-7) to determine whether an obligation arising from an irrevocable split-interest agreement contains an embedded derivative that warrants separate accounting under paragraph [815-15-25-1](https://asc.understandingaccounting.org/asc/815/15/#815-15-25-1). #### Hedge Documentation and Effectiveness ##### [815-958-25-2](https://asc.understandingaccounting.org/asc/815/958/#815-958-25-2) Pending content: yes Source downloaded (UTC): 2026-09-10T01:41:17.922Z to 2026-09-10T01:41:17.922Z Record version: sha256:290c192c8be4a41660c45b3faff51693f0ffc5aa413e220d0f3b99d70808e8b2 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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)See paragraphs [815-20-25-3A](https://asc.understandingaccounting.org/asc/815/20/#815-20-25-3A) and [815-20-25-143](https://asc.understandingaccounting.org/asc/815/20/#815-20-25-143) about the timing of hedge documentation and hedge effectiveness assessments for certain not-for-profit entities. Source downloaded (UTC): 2026-09-10T01:41:21.202Z to 2026-09-10T01:41:21.202Z Record version: sha256:6b1fafd2afc617f0fa77af606d6b7ba7b76f138784fbd73b0a3514cfdbf3784d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 815-958-55: 55 Implementation Guidance and Illustrations [Read section](https://asc.understandingaccounting.org/asc/815/958/#55-implementation-guidance-and-illustrations) SEC content: no ##### [815-958-55-1](https://asc.understandingaccounting.org/asc/815/958/#815-958-55-1) Pending content: no Source downloaded (UTC): 2026-09-10T01:41:21.202Z to 2026-09-10T01:41:21.202Z Record version: sha256:6e47e43d2bfdf9f314aa4aaf5dfbebf7451920b6d84e25700e59323c21502130 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See Example 2 (paragraphs [958-30-55-6 through 55-29](https://asc.understandingaccounting.org/asc/958/30/#958-30-55-6) ) for 8 cases that provide an understanding of the applicability of paragraphs [958-30-25-7 through 25-14](https://asc.understandingaccounting.org/asc/958/30/#958-30-25-7) to various split-interest agreements.