{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/210/912/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"210-912","topic":"210","title":"Contractors—Federal Government","area":"Presentation","paragraphs":12,"summary":"ASC 210-912 formerly provided balance sheet classification and disclosure guidance for contractors with the federal government (e.g., presentation of receivables, unbilled amounts, and advances/progress payments on government contracts). Every paragraph in the subtopic — Sections 05, 15, 45, and 50 — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). 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b\">Paragraph</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Action</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Accounting Standards Update</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Date</strong> </td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <strong class=\"ph b\">Advance Payments</strong> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <strong class=\"ph b\">Cost-Plus-Fixed-Fee Contract</strong> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/210/912/#210-912-05-1\" class=\"xref\">912-210-05-1</a> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/210/912/#210-912-15-1\" class=\"xref\">912-210-15-1</a> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/210/912/#210-912-45-1\" class=\"xref\">912-210-45-1 through 45-8</a></div> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/210/912/#210-912-50-1\" class=\"xref\">912-210-50-1</a> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> </table> </div> </div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nAdvance Payments | Superseded | Accounting Standards Update No. 2014-09 | 05/28/2014 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Every paragraph in the subtopic — Sections 05, 15, 45, and 50 — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). The subtopic is now an empty shell with no operative guidance; contract asset and contract liability presentation for government contractors is governed by ASC 606 (and ASC 340-40 for related costs).","key_points":["All content of ASC 210-912 (paragraphs 210-912-05-1, 15-1, 45-1 through 45-8, and 50-1) was superseded by Accounting Standards Update No. 2014-09.","No recognition, classification, or disclosure requirements remain in this subtopic; citing it as authoritative support is incorrect.","Balance sheet presentation of amounts arising from federal government contracts is now determined under ASC 606-10-45 (contract assets, contract liabilities, and receivables) rather than industry-specific balance sheet rules.","Costs to obtain or fulfill a government contract, and their presentation, are addressed by ASC 340-40 following the ASU 2014-09 amendments.","The retention of the empty subtopic in the Codification reflects the FASB's practice of preserving the section structure while eliminating superseded industry guidance."],"categories":["Presentation","Industry-specific","Revenue","Transition and effective dates"],"audience_level":"intermediate","student_note":"Know that this subtopic is entirely dead letter — ASU 2014-09 wiped out the legacy government-contractor balance sheet guidance. The common mistake is citing old industry presentation rules for unbilled receivables or progress payments instead of the ASC 606 contract asset/contract liability model.","related_topics":["606","340-40","912-605","912-210","605"],"key_concepts":["superseded guidance","federal government contractors","balance sheet classification","contract assets and contract liabilities","unbilled receivables","progress payments","revenue recognition transition"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1f19e741a4ead26396e0cf9cb550d13e0f7ebdec1c30291a19c229e55e73dd69","downloaded_from":"2026-09-09T22:59:35.983Z","last_downloaded_at":"2026-09-09T22:59:51.511Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"235-912","title":"Contractors—Federal Government","topic_title":"Notes to Financial Statements","score":0.9238,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:07126f6aa758e4397ca6e1a740db3d1f6d15b38bfcfece0a4bc663829122b49b","downloaded_from":"2026-09-09T23:14:51.524Z","last_downloaded_at":"2026-09-09T23:15:01.347Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"605-912","title":"Contractors—Federal Government","topic_title":"Revenue Recognition","score":0.8598,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e21db105af01935e182e10ee953f59c3b40cddc895d8a87ce8bf3a5debe44ee3","downloaded_from":"2026-09-10T00:46:26.835Z","last_downloaded_at":"2026-09-10T00:46:41.738Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"225-912","title":"Contractors—Federal Government","topic_title":"Income 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Services","score":0.8414,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d737053689265f360b433632de1c6db8a93c68586beaac80cbc023846cd56bf","downloaded_from":"2026-09-10T00:56:15.317Z","last_downloaded_at":"2026-09-10T00:56:24.655Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"235-910","title":"Contractors—Construction","topic_title":"Notes to Financial 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