Section 3856 applies to all financial instruments except for the following:
Interests in subsidiaries, entities subject to significant influence, and joint arrangements that are accounted for in accordance with Section 1591, Subsidiaries, Section 3051, Investments, Section 3056, Interests in Joint Arrangements; however, this Section does apply to a derivative that is based on such an interest.
Leases (see Section 3065, Leases), although Appendix B of this Section applies to transfers of lease receivables.
Employer's rights and obligations for employee future benefits and related plan assets (see Section 3462, Employee Future Benefits).
Insurance contracts, including the cash surrender value of a life insurance policy.
Investments held by an investment company that are accounted for at fair value in accordance with AcG-18, Investment Companies; however, the disclosure requirements in paragraphs 3856.37-.54 apply to an investment company.
Contracts and obligations for stock-based compensation to employees and stock-based payments to non-employees (see Section 3870, Stock-based Compensation and Other Stock-based Payments).
Guarantees, other than guarantees that replace financial liabilities as described in paragraph 3856.A58 (see also AcG-14, Disclosure of Guarantees).
Contracts based on revenues of a party to the contract.
Loan commitments (see Section 3280, Contractual Obligations, and Section 3290, Contingencies).
Contractual arrangements that prevent sale treatment (for example, an option to repurchase transferred receivables).
Contracts issued by an acquirer (but not the seller) for contingent consideration in a business combination until such time as the contingency is resolved (see Section 1582, Business Combinations, paragraphs .41-.42). This exception applies only to the acquirer (the entity that is accounting for the combination) and not to the seller.
Does not apply to contracts to buy or sell non-financial items except for:
Exchange-traded futures contracts; and
Contracts that are designated in a qualifying hedging relationship in accordance with paragraphs 3856.30 -.36.