# ASC 944-30-15: Financial Services—Insurance — Acquisition Costs — 15 Scope and Scope Exceptions

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/944/30/#15-scope-and-scope-exceptions)

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## ASC 944-30-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/944/30/#15-scope-and-scope-exceptions)

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#### Overall Guidance

##### [944-30-15-1](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-1)

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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 entity qualifications noted below.

#### Entities

##### [944-30-15-2](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-2)

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The guidance in this Subtopic does not apply to [mortgage guaranty insurance entities](https://asc.understandingaccounting.org/glossary/m/#mortgage-guaranty-insurance-entity "An insurance entity that issues insurance contracts that guarantee lenders, such as savings and loan associations, against nonpayment by mortgagors.").

### Short-Duration Contracts

#### Overall Guidance

##### [944-30-15-3](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-3)

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The Short-Duration Contracts Subsections of this Subtopic follow the same Scope and Scope Exceptions as outlined in the [General Subsection](https://asc.understandingaccounting.org/asc/944/30/#15-scope-and-scope-exceptions) of this Section, with specific instrument qualifications noted below.

#### Instruments

##### [944-30-15-4](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-4)

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The guidance in the Short-Duration Contracts Subsections of this Subtopic applies only to short-duration insurance contracts. For guidance on identifying a short-duration insurance contract, see the [Short-Duration Contracts Subsection](https://asc.understandingaccounting.org/asc/944/20/#15-scope-and-scope-exceptions) of Section 944-20-15.

### Long-Duration Contracts

#### Overall Guidance

##### [944-30-15-5](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-5)

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The Long-Duration Contracts Subsections of this Subtopic follow the same Scope and Scope Exceptions as outlined in the [General Subsection](https://asc.understandingaccounting.org/asc/944/30/#15-scope-and-scope-exceptions) of this Section, with specific instrument qualifications noted below.

#### Instruments

##### [944-30-15-6](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-6)

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The guidance in the Long-Duration Contracts Subsections of this Subtopic applies only to long-duration contracts. For guidance on identifying a long-duration contract, see the [Long-Duration Contracts Subsection](https://asc.understandingaccounting.org/asc/944/20/#15-scope-and-scope-exceptions) of Section 944-20-15.

### Internal Replacement Transactions

#### Overall Guidance

##### [944-30-15-7](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-7)

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The Internal Replacement Transactions Subsections follow the same Scope and Scope Exceptions as outlined in the [General Subsection](https://asc.understandingaccounting.org/asc/944/30/#15-scope-and-scope-exceptions) of this Section, with specific instrument qualifications and other considerations noted below.

#### Instruments

##### [944-30-15-8](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-8)

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The guidance in the Internal Replacement Transactions Subsections applies to modifications and replacements made to short-duration contracts and long-duration contracts (including those contracts defined as [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.")).

#### Other Considerations

##### [944-30-15-9](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-9)

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For guidance on modifications and exchanges of debt issued by insurance entities, see Subtopic 470-50.

### Reinsurance Contracts

#### Overall Guidance

##### [944-30-15-10](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-10)

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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/asc/944/30/#15-scope-and-scope-exceptions) of this Section, with specific instrument qualifications noted below.

#### Instruments

##### [944-30-15-11](https://asc.understandingaccounting.org/asc/944/30/#944-30-15-11)

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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.