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FASB ASC Guide > FASB ASC 825

The Financial Accounting Standards Board (FASB) released Accounting Standards Codification 825 (ASC 825) to address broad information related to financial instruments of all types, with subsections that go into further detail on each type.  Among the types of financial instruments discussed, the following are included:

a.Cash and Cash Equivalents
b.Receivables
c.Investments—Debt and Equity Securities
d.Investments—Equity Method and Joint Ventures
e.Liabilities
f.Commitments
g.Contingencies
h.Guarantees
i.Debt
j.Distinguishing Liabilities from Equity
k.Equity
l.Derivatives and Hedging
m.Leases
n.Transfers and Servicing

The fair value option in extensive detail, what it is, and the circumstances in which it may be used by firms.  Fair value is a measurement that attempts to display what an asset or liability is worth in the open market.

Check out more high level explanations of the FASB ASC in our Guide to the Accounting Standards Codification!

For more in depth information on this and other FASB ASC topics, check out the following books.