# ASC 310-912-45: Receivables — Contractors—Federal Government — 45 Other Presentation Matters Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/310/912/#45-other-presentation-matters) 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): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:894828f350c401630097cbadddc88c04c060f7f9e648c4f618031237cef11fc9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-912-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/310/912/#45-other-presentation-matters) SEC content: no #### Balance Sheet ##### [310-912-45-1](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:275a7acb17072a22da16d0a8d64eb6d8e601d5a7cf329efe8303b2fbdc3eac44 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Government contract receivables usually are shown separately from other receivables in the balance sheet (or otherwise disclosed in the notes to financial statements). ##### [310-912-45-2](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:dbdfcc9a7c136b2984e80a93487f2d52daf318ae2c1ac1c8d771a9c8fb62768b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. There is a difference in character between billed items and unbilled costs and such amounts shall be presented separately on the balance sheet. ##### [310-912-45-3](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-3) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:bdcb1475877f6f30bedcde67a18d5577d5273894684a1b2319e8a4454c7d0d7f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Termination claims shall be classified as a current asset. ##### [310-912-45-4](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-4) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:9d82ece89412d674e1b3f8bd0cd16800a8603d491c507dc59c6b9ca721bd1dbc Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Advance payments](https://asc.understandingaccounting.org/glossary/a/#advance-payments "Government advances of cash as a revolving fund or against the final payment due under an agreement.") received before termination may be shown in financial statements after termination as a deduction from the claim receivable. ##### [310-912-45-5](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-5) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:6a7de56a95a8b61f63739294f948a01dbdb11c386452fa488529214e3f0aa3ad Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Termination has the effect of converting an active contract in process into a claim, or, from an accounting standpoint, from contract inventories and other charges into an account receivable. This receivable arises in the regular course of business; it is part of the working capital; and in view of the provisions made for financial assistance to the contractor during the period of termination, collection in large part may be expected within a relatively short time. The termination claim shall therefore be classified as a current asset, unless there is an indication of extended delay, such as serious disagreement pointing to probable litigation, which would exclude it from this classification. ##### [310-912-45-6](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-6) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:fc2a0dbbf073c1ad325af128500e8f82fb7622c02cd7d5859a909d5fabfdac8c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Although a claim may be composed of several elements representing reimbursable items of special equipment, deferred charges, inventories, and other items, as well as claims for profit, it is preferable to record the claim in one account. The total of termination claims shall be presented separately from other receivables. Claims directly against the government shall be segregated from claims against other contractors. ##### [310-912-45-7](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-7) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:0c5d11455632c0f1ef453164ee8d26459a6ed5b3660a47066be2b582195fe7d4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. To assure adequate financial assistance to contractors, legislation and regulations provide in some circumstances for partial payments and in others for such payments or guaranteed loans from the effective date of termination until final settlement. Partial payments shall be recorded as reductions of the termination claim receivable. ##### [310-912-45-8](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-8) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:3c98dc50e8af62c6129394d654a8dd9af9170dfa65c0f5cabaa0d869527af3c6 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The costs and expenses chargeable to the termination claim are given their usual classification in the accounts. ##### [310-912-45-9](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-9) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:ec875237dcb6fe516da903adbb6f454b1aa293ed0825da21f5f725f06fbb9557 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/). ##### [310-912-45-10](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-10) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:94cea9e9464b062722a3e3c18f5be57f306b553a07aa7cffcfb775cfa86a4b72 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/). #### Cash Flow Statement ##### [310-912-45-11](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-11) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:40.029Z to 2026-09-09T23:28:40.029Z Record version: sha256:fcc76caab97fa8459faf746f031c6607b254546536b40b0d83d045b272a589e5 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. In reporting cash flows from operating activities, progress, and advance payments received on contracts shall be reported gross, regardless of whether those payments have been applied against unbilled contract receivables or accumulated costs of contracts in progress in the balance sheet. The manner of reporting depends on whether the entity uses the direct method or indirect method as follows: 1. a Direct method. Entities that use the direct method in reporting cash flows from operating activities shall show progress and advance payments received on contracts as a separate major class of cash receipts. 2. b Indirect method. Entities that use the indirect method shall show progress and advance payments as a separate adjustment in reconciling net income to net cash provided for operating activities.