The ASC 825-10 has two subsections: general, which provides guidance on the fair value option and some disclosures about financial instrument, and fair value option, which provides guidance on the circumstances under which entities may choose the fair value option and the related presentation and ...
ASC 825-10 notes that it provides “provide guidance on credit losses on financial instruments with off-balance-sheet credit risk and certain disclosures about financial instruments.” Guidance is also included on the fair value option, including: Circumstances in which entities may choose, at specif...
Summary Accounting Standards Codification (ASC) 825, Financial Instruments , contains two Subtopics: 1) ASC 825-10, Overall ; 2) ASC 825-20, Registration Payment Arrangements. ASC 825-10-25, The Fair Value Option, encourages reporting entities to elect to use fair value to measure eligible ...