It's important to note that the motherboard maker is not necessarily the same as the BIOS maker, so it's best to consult your manual as the codes can vary. Whatever the case, the codes are there to let you know that something is wrong so you can get on your way to diagnosing and fixing the problem.
Other times it could be a failed GPU or CPU, or maybe you just forgot to plug in one of the cables. Sometimes it's as simple as improperly seated RAM.