# ASC 310-912-50: Receivables — Contractors—Federal Government — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/310/912/#50-disclosure)

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## ASC 310-912-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/310/912/#50-disclosure)

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#### Termination Claims

##### [310-912-50-1](https://asc.understandingaccounting.org/asc/310/912/#310-912-50-1)

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For those parts of the termination claim that are included in financial statements after termination, full disclosure of the essential facts shall be made.

##### [310-912-50-2](https://asc.understandingaccounting.org/asc/310/912/#310-912-50-2)

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The termination claim shall be separately disclosed.

#### Progress Payments

##### [310-912-50-3](https://asc.understandingaccounting.org/asc/310/912/#310-912-50-3)

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The amount of progress payments offset against unbilled receivables shall be disclosed.

#### Advance Payments

##### [310-912-50-4](https://asc.understandingaccounting.org/asc/310/912/#310-912-50-4)

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[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 on the contract before its termination shown as a deduction from the claim receivable in accordance with paragraph [912-310-45-4](https://asc.understandingaccounting.org/asc/310/912/#310-912-45-4) shall be explained in a note to financial statements.