# ASC 942-10-15: Financial Services—Depository and Lending — Overall — 15 Scope and Scope Exceptions

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/942/10/#15-scope-and-scope-exceptions)

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## ASC 942-10-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/942/10/#15-scope-and-scope-exceptions)

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#### Overall Guidance

##### [942-10-15-1](https://asc.understandingaccounting.org/asc/942/10/#942-10-15-1)

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The Subtopics within the Financial Services—Depository and Lending Topic provide only incremental industry-specific guidance for the entities defined in this Scope Section, or as further defined in the Scope Sections of the individual Financial Services—Depository and Lending Subtopics. Entities within the scope of this Topic shall also comply with the applicable guidance not included in this Topic.

#### Entities

##### [942-10-15-2](https://asc.understandingaccounting.org/asc/942/10/#942-10-15-2)

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The guidance in the Financial Services—Depository and Lending Topic applies to all of the following entities:

1.  a
    
    Finance companies, including finance company subsidiaries
    
2.  b
    
    Depository institutions insured by either:
    
    1.  1
        
        The Federal Deposit Insurance Corporation's (FDIC's) Deposit Insurance Fund
        
    2.  2
        
        The National Credit Union Administration's National Credit Union Share Insurance Fund.
        
3.  c
    
    Bank holding companies
    
4.  d
    
    Savings and loan association holding companies
    
5.  e
    
    Branches and agencies of foreign banks regulated by U.S. federal banking regulatory agencies
    
6.  f
    
    State-chartered banks, credit unions, and savings institutions that are not federally insured
    
7.  g
    
    Foreign financial institutions whose financial statements are purported to be prepared in conformity with accounting principles generally accepted in the United States
    
8.  h
    
    Mortgage companies
    
9.  i
    
    Corporate credit unions.

##### [942-10-15-3](https://asc.understandingaccounting.org/asc/942/10/#942-10-15-3)

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For purposes of this Topic, financial institution (or institution) denotes a bank, credit union, finance company, mortgage company, or savings institution.