ASC

ASC 225-912

Contractors—Federal Government

225 Income Statement

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In brief

IntermediatePresentationIndustry-specificTransition and effective datesFinancial statement presentation

ASC 225-912 formerly provided income statement presentation guidance for contractors with the federal government (a subtopic of the legacy Income Statement topic). Every paragraph in the subtopic — Overview and Background (05), Scope (15), and Other Presentation Matters (45) — was superseded by Maintenance Update 2017-19, so the subtopic contains no operative guidance. Presentation questions for federal government contractors are now addressed under the revenue and other applicable topics rather than here.

Key points (5)
  • All content of this subtopic is superseded: 225-912-05-1, 225-912-15-1, and 225-912-45-1 through 225-912-45-4 were each removed by Maintenance Update 2017-19.
  • Because no paragraphs remain in force, ASC 225-912 imposes no recognition, measurement, presentation, or disclosure requirements.
  • The supersession is part of the broader replacement of legacy industry revenue and contract guidance following ASU 2014-09 (ASC 606) and related maintenance updates.
  • Federal government contractors should look to ASC 606 (and industry subtopic 912 guidance retained elsewhere) for revenue and income statement presentation of contract results.
  • Superseded paragraphs are retained in the Codification only as historical markers and must not be cited as authoritative support.

For students. Practically, this subtopic is a dead end — a common mistake is citing a superseded paragraph found through a keyword search; always check the "superseded by" tag before relying on Codification text. For federal contractor revenue and presentation, go to ASC 606 and the remaining 912 subtopics.

superseded guidancefederal government contractorsincome statement presentationindustry-specific guidancecodification housekeeping

Machine-generated study aid for ASC 225-912. Check the source paragraphs below.

225-912-00Status

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225-912-00-1
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
912-225-05-1 Superseded Maintenance Update 2017-19 (PDF) 11/15/2017
912-225-05-1 Amended Accounting Standards Update No. 2014-09 05/28/2014
912-225-45-1 Superseded Maintenance Update 2017-19 (PDF) 11/15/2017
912-225-45-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
912-225-45-2 Superseded Maintenance Update 2017-19 (PDF) 11/15/2017
912-225-45-2 Superseded Accounting Standards Update No. 2014-09 05/28/2014
912-225-45-3 Superseded Maintenance Update 2017-19 (PDF) 11/15/2017
912-225-45-4 Superseded Maintenance Update 2017-19 (PDF) 11/15/2017
912-225-45-4 Superseded Accounting Standards Update No. 2014-09 05/28/2014

225-912-05Overview and Background

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225-912-15Scope and Scope Exceptions

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225-912-45Other Presentation Matters

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Related subtopics