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Chapter 2 — Scope

2.1 Overview

2.1 Overview

ASC 326-20
15-2 The guidance in this Subtopic applies to the following items:
  1. Financial assets measured at amortized cost basis, including the following:
    1. Financing receivables
    2. Held-to-maturity debt securities
    3. Receivables that result from revenue transactions within the scope of Topic 605 on revenue recognition, Topic 606 on revenue from contracts with customers, and Topic 610 on other income
    4. Subparagraph superseded by Accounting Standards Update No. 2019-04.
    5. Receivables that relate to repurchase agreements and securities lending agreements within the scope of Topic 860.
  2. Net investments in leases recognized by a lessor in accordance with Topic 842 on leases.
  3. Off-balance-sheet credit exposures not accounted for as insurance. Off-balance-sheet credit exposure refers to credit exposures on off-balance-sheet loan commitments, standby letters of credit, financial guarantees not accounted for as insurance, and other similar instruments, except for instruments within the scope of Topic 815 on derivatives and hedging.
  4. Reinsurance recoverables that result from insurance transactions within the scope of Topic 944 on insurance.

Footnotes

1
Debt securities can also be classified as trading securities under ASC 320. Trading securities are subsequently measured at fair value in the statement of financial position. Unrealized holding gains and losses for trading securities are included in earnings in accordance with ASC 320. Financial assets measured at fair value through net income are explicitly excluded from the scope of ASC 326.
2
Provided that the investor does not consolidate the investee under ASC 810 and the investor does not apply ASC 323 to the investment (e.g., as an investment in in-substance common stock that provides the investor with significant influence over the investee).