# ASC 825-944-15: Financial Instruments — Financial Services—Insurance — 15 Scope and Scope Exceptions

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/825/944/#15-scope-and-scope-exceptions)

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## ASC 825-944-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/825/944/#15-scope-and-scope-exceptions)

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#### Overall Guidance

##### [825-944-15-1](https://asc.understandingaccounting.org/asc/825/944/#825-944-15-1)

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This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 944-10-15, with specific instrument qualifications noted below.

#### Instruments

##### [825-944-15-2](https://asc.understandingaccounting.org/asc/825/944/#825-944-15-2)

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The guidance in this Subtopic applies to all financial instruments, including [investment contracts](https://asc.understandingaccounting.org/glossary/i/#investment-contracts "Long-duration contracts that do not subject the insurance entity to risks arising from policyholder mortality or morbidity."). For a guidance on identifying investment contracts, see the discussion beginning in paragraph [944-20-15-16](https://asc.understandingaccounting.org/asc/944/20/#944-20-15-16).

##### [825-944-15-3](https://asc.understandingaccounting.org/asc/825/944/#825-944-15-3)

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[Paragraph not used](https://asc.understandingaccounting.org/updates/page-1833002/).

### Reinsurance Contracts

#### Overall Guidance

##### [825-944-15-4](https://asc.understandingaccounting.org/asc/825/944/#825-944-15-4)

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The Reinsurance Contracts Subsections of this Subtopic follow the same Scope and Scope Exceptions as outlined in the [General Subsection](https://asc.understandingaccounting.org/updates/page-2147479495/) of this Section, with specific instrument qualifications noted below.

#### Instruments

##### [825-944-15-5](https://asc.understandingaccounting.org/asc/825/944/#825-944-15-5)

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The guidance in the Reinsurance Contracts Subsections of this Subtopic applies only to [reinsurance](https://asc.understandingaccounting.org/glossary/r/#reinsurance "A transaction in which a reinsurer (assuming entity), for a consideration (premium), assumes all or part of a risk undertaken originally by another insurer (ceding entity). For indemnity reinsurance, the legal rights of the insured are not affected by the reinsurance transaction and the insurance entity issuing the insurance contract remains liable to the insured for payment of policy benefits. Assumption or novation reinsurance contracts that are legal replacements of one insurer by another extinguish the ceding entity's liability to the policyholder.") contracts. For guidance on identifying a reinsurance contract, see the [Reinsurance Contracts Subsection](https://asc.understandingaccounting.org/asc/944/20/#15-scope-and-scope-exceptions) of Section 944-20-15.