# ASC 235-912: Notes to Financial Statements — Contractors—Federal Government Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/235/912/) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-09T23:14:51.524Z to 2026-09-09T23:15:01.347Z Record version: sha256:31dc82e5f4bf255ce37afabd495fe4c77623058c1f0a758928ecb4800a9dcd19 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 235-912: Notes to Financial Statements — Contractors—Federal Government ### Machine-generated study aids ```json { "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 All of its content (paragraphs 235-912-05-1, 15-1 and 50-1) was superseded by ASU 2014-09, the revenue recognition standard, so the subtopic now carries no operative guidance.", "key_points": [ "Every paragraph in this subtopic — 235-912-05-1 (overview), 235-912-15-1 (scope), and 235-912-50-1 (disclosure) — was superseded by Accounting Standards Update No. 2014-09.", "Because the subtopic is fully superseded, it imposes no current recognition, measurement, or disclosure requirements on federal government contractors.", "Disclosure of significant accounting policies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" ] } ``` Source downloaded (UTC): 2026-09-09T23:14:51.524Z to 2026-09-09T23:14:51.524Z Record version: sha256:e50de1830f88abcfb997ef64b51269e59d26c1893d6c3e54400b0adc654d39d1 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 235-912-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/235/912/#00-status) SEC content: no ##### [235-912-00-1](https://asc.understandingaccounting.org/asc/235/912/#235-912-00-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:51.524Z to 2026-09-09T23:14:51.524Z Record version: sha256:5bff228cdde1ffa7e4768d15a28b76124a1a8d444f624697b5991e6e6fceb763 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.

Paragraph	Action	Accounting Standards Update	Date

912-235-05-1	Superseded	Accounting Standards Update No. 2014-09	05/28/2014
912-235-15-1	Superseded	Accounting Standards Update No. 2014-09	05/28/2014
912-235-50-1	Superseded	Accounting Standards Update No. 2014-09	05/28/2014

Source downloaded (UTC): 2026-09-09T23:14:55.544Z to 2026-09-09T23:14:55.544Z Record version: sha256:aa69882d0c940fd1b458ca3f699d095ec7b3b7b2f1a781e031667fc12dade92c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 235-912-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/235/912/#05-overview-and-background) SEC content: no ##### [235-912-05-1](https://asc.understandingaccounting.org/asc/235/912/#235-912-05-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:55.544Z to 2026-09-09T23:14:55.544Z Record version: sha256:5c646a5d95ef1d3d5d28479e0fd4bb504db48de2fdc0b2752b5af56755e6267e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-09T23:14:59.509Z to 2026-09-09T23:14:59.509Z Record version: sha256:a6d73cd2a86505310300a9b5c6b398ca1918e3f654368603cfe1c224d0bbb170 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 235-912-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/235/912/#15-scope-and-scope-exceptions) SEC content: no ##### [235-912-15-1](https://asc.understandingaccounting.org/asc/235/912/#235-912-15-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:14:59.509Z to 2026-09-09T23:14:59.509Z Record version: sha256:de917bbf3d0e7e7c0ad02621b65ceb1412676fe4c049468546118794e9109b63 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-09T23:15:01.347Z to 2026-09-09T23:15:01.347Z Record version: sha256:83e75befe7e0b0f3a3fa2ceb412102c76d61d3a4de15e57d25a8d1c8dd13a541 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 235-912-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/235/912/#50-disclosure) SEC content: no ##### [235-912-50-1](https://asc.understandingaccounting.org/asc/235/912/#235-912-50-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:15:01.347Z to 2026-09-09T23:15:01.347Z Record version: sha256:70dbeac4ba48da5702f91f7ccdafc4e998b3ac7c9b3820846c1e08a4ee71f90e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).