{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/235/912/","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":"235-912","topic":"235","title":"Contractors—Federal Government","area":"Presentation","paragraphs":4,"summary":"ASC 235-912 formerly provided accounting-policy disclosure guidance in the notes to financial statements for entities contracting with the federal government. All of its content (paragraphs 235-912-05-1, 15-1 and 50-1) was superseded by ASU 2014-09, the revenue recognition standard, so the subtopic now carries no operative guidance.","concepts":["superseded guidance","summary of significant accounting policies","federal government contractors","revenue recognition transition","industry-specific guidance","notes to financial statements"],"categories":["Disclosure","Presentation","Revenue","Transition and effective dates"],"level":"intermediate","topic_title":"Notes to Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"235-912-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div><div class=\"norm-text\"><table class=\"asc-table\" id=\"SL51799821-203192\"><tr><td class=\"entry\"><strong class=\"ph 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\"><a href=\"/asc/235/912/#235-912-05-1\" class=\"xref\">912-235-05-1</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Superseded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/235/912/#235-912-15-1\" class=\"xref\">912-235-15-1</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Superseded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\"><a href=\"/asc/235/912/#235-912-50-1\" class=\"xref\">912-235-50-1</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| | | |\n912-235-05-1 | Superseded | Accounting Standards Update No. 2014-09 | 05/28/2014 |\n912-2…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5bff228cdde1ffa7e4768d15a28b76124a1a8d444f624697b5991e6e6fceb763","downloaded_from":"2026-09-09T23:14:51.524Z","last_downloaded_at":"2026-09-09T23:14:51.524Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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class=\"xref\">Paragraph superseded by Accounting Standards Update No. 2014-09</a>.</div></div>","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de917bbf3d0e7e7c0ad02621b65ceb1412676fe4c049468546118794e9109b63","downloaded_from":"2026-09-09T23:14:59.509Z","last_downloaded_at":"2026-09-09T23:14:59.509Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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Accounting Standards Update No. 2014-09</a>.</div></div>","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:70dbeac4ba48da5702f91f7ccdafc4e998b3ac7c9b3820846c1e08a4ee71f90e","downloaded_from":"2026-09-09T23:15:01.347Z","last_downloaded_at":"2026-09-09T23:15:01.347Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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All of its content (paragraphs 235-912-05-1, 15-1 and 50-1) was superseded by ASU 2014-09, the revenue recognition standard, so the subtopic now carries no operative guidance.","key_points":["Every paragraph in this subtopic — 235-912-05-1 (overview), 235-912-15-1 (scope), and 235-912-50-1 (disclosure) — was superseded by Accounting Standards Update No. 2014-09.","Because the subtopic is fully superseded, it imposes no current recognition, measurement, or disclosure requirements on federal government contractors.","Disclosure of significant accounting policies for federal government contractors is now addressed through the general policy-disclosure guidance in ASC 235-10 and the revenue disclosure requirements of ASC 606-10-50.","Industry-specific guidance for contractors with the federal government that survives ASU 2014-09 resides in ASC 912 and, for contract costs, ASC 340-40."],"categories":["Disclosure","Presentation","Revenue","Transition and effective dates"],"audience_level":"intermediate","student_note":"This subtopic is a shell: knowing that ASU 2014-09 wiped out most legacy industry revenue and related policy-disclosure guidance is the real takeaway. The common mistake is citing pre-2014 government-contractor disclosure rules that no longer exist \\u2014 look instead to ASC 606 and ASC 235-10.","related_topics":["235-10","606-10","340-40","912","912-235"],"key_concepts":["superseded guidance","summary of significant accounting policies","federal government contractors","revenue recognition transition","industry-specific guidance","notes to financial statements"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:295b1a64e98ed4674644a042e9b87c66ed6d7a1baaaa8ec7d4733dbc461b9f57","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"}},"related":[{"number":"210-912","title":"Contractors—Federal Government","topic_title":"Balance Sheet","score":0.9238,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9a8eee1f02a3c70c93e21013239778a31ddb65b9772252382bacebad3fd8151f","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"}},{"number":"225-912","title":"Contractors—Federal Government","topic_title":"Income Statement","score":0.8572,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:98d175a5ab99810483b8ac26c32e26b76be22d7fc547cfcf0e9b135dca77f2f8","downloaded_from":"2026-09-09T23:09:01.316Z","last_downloaded_at":"2026-09-09T23:09:08.768Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not 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