# ASC 310-912: Receivables — Contractors—Federal Government Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/310/912/) 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): 2026-09-09T23:28:22.756Z to 2026-09-09T23:28:44.996Z Record version: sha256:d1001303526dada6679fe43294b70b598fb20c9b9158642cfaf5d3294082dfd5 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-912: Receivables — Contractors—Federal Government ### Machine-generated study aids ```json { "summary": "This Subtopic tells federal government contractors how to recognize, present, and disclose receivables arising from government contracts. Its core rules: unbilled costs and fees under cost-plus-fixed-fee contracts are receivables or contract assets (not advances or inventory); progress payments are applied first against unbilled receivables (or accounted for as financing if the government obtains only a secured interest); and a terminated contract converts contract inventory into a termination claim receivable classified as a current asset.", "key_points": [ "Unbilled costs and fees under cost-plus-fixed-fee contracts are receivables or contract assets rather than advances or inventory, because the right to bill generally exists upon expenditure or accrual and the delay is only to assemble billing data (310-912-25-1; 310-912-25-3).", "Fee payments are usually measured by the ratio of expenditures incurred to total estimated expenditures rather than by a measure of progress toward satisfying a performance obligation under 606-10-25-31 through 25-37 and 606-10-55-16 through 55-21 (310-912-25-2).", "If legal title to accumulated costs of contracts in progress vests with the U.S. government upon receipt of progress payments, those payments on fixed-price contracts are applied by individual contract first to unbilled receivables with any remainder to accumulated costs of contracts in progress; if the government receives only a secured interest, the progress payments are accounted for as a financing transaction (310-912-25-7).", "Disposal credits (amounts for termination inventory retained by the contractor at agreed value, or sold to others with government approval) are applied as a reduction of the termination claim receivable; items retained without claim for loss are excluded from the claim (310-912-25-4; 310-912-35-1).", "In no-cost settlements there is no sale to the government and no profit is accrued on termination; costs and retained property receive their usual accounting treatment (310-912-25-5).", "Government contract receivables are shown separately from other receivables, billed items are presented separately from unbilled costs, and termination claims are recorded in one account, presented separately, with claims against the government segregated from claims against other contractors (310-912-45-1; 45-2; 45-6).", "A termination claim is classified as a current asset unless there is indication of extended delay such as serious disagreement pointing to probable litigation; partial and advance payments are recorded as reductions of the claim receivable, and progress and advance payments are reported gross in operating cash flows (310-912-45-3; 45-5; 45-7; 45-4; 45-11)." ], "categories": [ "Recognition", "Presentation", "Disclosure", "Industry-specific" ], "audience_level": "intermediate", "student_note": "Exam traps here are classification, not measurement: unbilled costs are receivables/contract assets (never inventory or negative advances), and progress payments are netted against unbilled receivables on the balance sheet but must still be reported gross in the operating section of the cash flow statement. Also remember the title-versus-secured-interest test determines whether progress payments are an offset or a financing transaction.", "related_topics": [ "912-10", "912-330", "912-405", "606-10", "340-40", "705-20" ], "key_concepts": [ "unbilled costs and fees", "cost-plus-fixed-fee contract", "progress payments", "termination claim receivable", "disposal credits", "no-cost settlement", "contract asset", "government contract receivables" ] } ``` Source downloaded (UTC): 2026-09-09T23:28:22.756Z to 2026-09-09T23:28:22.756Z Record version: sha256:702c1da638dc1ea4d72c0e5da4e5eefe0b82d9fb2e8b99a562fe5fb353733f93 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-912-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/310/912/#00-status) SEC content: no ##### [310-912-00-1](https://asc.understandingaccounting.org/asc/310/912/#310-912-00-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:22.756Z to 2026-09-09T23:28:22.756Z Record version: sha256:52fd96dad50158719f6faa41ce1050cdf0b820907f0954b0083fbdcd7ab24871 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
Contract AssetAddedAccounting Standards Update No. 2014-0905/28/2014
912-310-25-1AmendedAccounting Standards Update No. 2014-0905/28/2014
912-310-25-2AmendedAccounting Standards Update No. 2014-0905/28/2014
912-310-25-6SupersededAccounting Standards Update No. 2014-0905/28/2014
912-310-25-8SupersededAccounting Standards Update No. 2014-0905/28/2014
912-310-25-9SupersededAccounting Standards Update No. 2014-0905/28/2014
912-310-45-1AmendedMaintenance Update 2018-12 (PDF)09/10/2018
912-310-45-9SupersededAccounting Standards Update No. 2014-0905/28/2014
912-310-45-10SupersededAccounting Standards Update No. 2014-0905/28/2014
912-310-50-4AmendedMaintenance Update 2016-11 (PDF)06/27/2016
Source downloaded (UTC): 2026-09-09T23:28:26.165Z to 2026-09-09T23:28:26.165Z Record version: sha256:9736c8276705029e47e381a39ea66c2249da87c70f31a2a36ae416ff0b3fcac1 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-912-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/310/912/#05-overview-and-background) SEC content: no ##### [310-912-05-1](https://asc.understandingaccounting.org/asc/310/912/#310-912-05-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:26.165Z to 2026-09-09T23:28:26.165Z Record version: sha256:eaa10474898531bf046f9bf995173fe790fbc32e7ec25ce109cc30f3e11ab3f9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic provides guidance to government contractors related to the recognition, presentation, and disclosure of receivables resulting from federal government contracts. Source downloaded (UTC): 2026-09-09T23:28:28.561Z to 2026-09-09T23:28:28.561Z Record version: sha256:5add5b97ae58f54406d1a04ce89ca3fbc5531ebaf80ea9debef7edf62e66e025 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-912-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/310/912/#15-scope-and-scope-exceptions) SEC content: no #### Overall Guidance ##### [310-912-15-1](https://asc.understandingaccounting.org/asc/310/912/#310-912-15-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:28.561Z to 2026-09-09T23:28:28.561Z Record version: sha256:9d5e307b3c6a91a86702baf90f838848afbb973edf66179e3d6710b4ebad6110 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 912-10-15. Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:b8b2b8a8a1fc74f11909b469d6ce310a0208ec7950f6c9ebcb5ea0ec91f19f45 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-912-25: 25 Recognition [Read section](https://asc.understandingaccounting.org/asc/310/912/#25-recognition) SEC content: no #### Cost-Plus-Fixed-Fee Contracts ##### [310-912-25-1](https://asc.understandingaccounting.org/asc/310/912/#310-912-25-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:05fb26a9aec05587eaa31f5d4d11da7b6e2f6121f4e1492e07a9eef94feb2ca7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Unbilled costs and fees under [cost-plus-fixed-fee contracts](https://asc.understandingaccounting.org/glossary/c/#cost-plus-fixed-fee-contract "A contract under which the contractor is reimbursed for costs plus the provision for a fixed fee.") are receivables or [contract assets](https://asc.understandingaccounting.org/glossary/c/#contract-asset "An entity's right to consideration in exchange for goods or services that the entity has transferred to a customer when that right is conditioned on something other than the passage of time (for example, the entity's future performance).") rather than advances or inventory. ##### [310-912-25-2](https://asc.understandingaccounting.org/asc/310/912/#310-912-25-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:aaef17f3bb446a0a291723667694c9d1c118bf4b02fdf49dbe126c2c7715321d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Payments on account of the fees (minus amounts withheld until completion) are made from time to time as specified in the agreements, usually subject to the approval of the contracting officer. In most circumstances the amount of each payment is determined by the ratio of expenditures made to the total estimated expenditures rather than on the basis of deliveries or other measures of progress toward complete satisfaction of a [performance obligation](https://asc.understandingaccounting.org/glossary/p/#performance-obligation "A promise in a contract with a customer to transfer to the customer either: A good or service (or a bundle of goods or services) that is distinct A series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer.") in accordance with the guidance in paragraphs [606-10-25-31 through 25-37](https://asc.understandingaccounting.org/asc/606/10/#606-10-25-31) and paragraphs [606-10-55-16 through 55-21](https://asc.understandingaccounting.org/asc/606/10/#606-10-55-16) . ##### [310-912-25-3](https://asc.understandingaccounting.org/asc/310/912/#310-912-25-3) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:551ca809dd3d29f81b9757bbb6950a7e410971cbca547653c3593cf87e4677de Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The principal reason for the existence of unbilled costs is the time usually required, after receipt of material or expenditures for labor and other costs , to assemble data for billing. The right to bill usually exists upon expenditure or accrual, and that right represents a receivable rather than an advance or inventory. #### Termination Claims ##### [310-912-25-4](https://asc.understandingaccounting.org/asc/310/912/#310-912-25-4) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:ca6e10d4d65a96971703808f5c931c141f4ffe52398bd2f3bb75d53ea4d1de15 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Disposal credits are amounts deducted from the contractor's termination claim receivable by reason of the contractor's retention, or sale to outsiders, of some or all of the termination inventory for which claim was made. In the circumstance of items retained, either as scrap or for use by the contractor, the amount of the credit shall be determined by agreement between the contractor and a representative of the government. The sale of inventory items by the contractor shall be likewise subject to approval by the government, except as permitted by regulation. Because the amount of the contractor's termination claim is properly recorded as a sale, any elements included in that claim for items of inventory retained by the contractor are, in effect, reacquired by the contractor and shall be treated as purchases at the agreed value. Amounts received for items sold to others with the approval of the government are collections for the account of the government and shall be applied as a reduction of the termination claim receivable. Inventories or other items that are retained by the contractor after termination without claim for loss shall not be included as an element of the termination claim. ##### [310-912-25-5](https://asc.understandingaccounting.org/asc/310/912/#310-912-25-5) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:fd8887a637576c5d12bd6470523306fc22e612692697e411b7a2dab712091875 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. A contractor whose contract is terminated may prefer to retain the termination inventory for use in other production or for disposal at the contractor's risk. For these or other reasons the contractor may prefer to make no claim against the government or a higher-tier contractor. In such no-cost settlements there is no sale of inventory or other items to the government and no occasion to accrue any profit arising from the termination. The costs otherwise applicable to the contract shall be given their usual treatment in the accounts. Items of inventory or other property retained, having been previously recorded, require no charge to purchases but shall be treated in accordance with the usual procedures applicable to such assets. ##### [310-912-25-6](https://asc.understandingaccounting.org/asc/310/912/#310-912-25-6) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:7dbdbadad06c98759722537b63e778a6fd337f715a99ef72aea656f697b18c5b 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/). #### Progress Payments ##### [310-912-25-7](https://asc.understandingaccounting.org/asc/310/912/#310-912-25-7) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:cd351919d306e8663822d6ea1d815a1d4d1b97a5a1437f554fc773063b083f6b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The accounting for progress payments under a government contract depends on the progress-payments clause as follows: 1. a If legal title to the related accumulated costs of contracts in progress vests with the U.S. government on the contractor's receipt of progress payments, progress payments received on fixed-price contracts shall be applied by individual contract first to amounts carried in unbilled receivables, with any remainder applied to accumulated costs of contracts in progress (often referred to as inventories). 2. b If a legal determination is made that the U.S. government receives only a secured interest in the accumulated costs of contracts in progress, progress payments received shall be accounted for as a financing transaction. ##### [310-912-25-8](https://asc.understandingaccounting.org/asc/310/912/#310-912-25-8) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:c145284764531b6fa38800560612b8acaf3f99c34b03ade00a7d39e5ec207360 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/). ##### [310-912-25-9](https://asc.understandingaccounting.org/asc/310/912/#310-912-25-9) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:34.318Z to 2026-09-09T23:28:34.318Z Record version: sha256:282158cebe92b87c3067bb5d5e161da3a4011b54df3f1534b68d0bdbdfe0d705 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): 2026-09-09T23:28:37.893Z to 2026-09-09T23:28:37.893Z Record version: sha256:d22d771b06afccc54d4bb2abfe6ec61266d9fbac468f4e05a1eea42b1fc9b1ac Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-912-35: 35 Subsequent Measurement [Read section](https://asc.understandingaccounting.org/asc/310/912/#35-subsequent-measurement) SEC content: no #### Inventory Items Related to Termination Claims ##### [310-912-35-1](https://asc.understandingaccounting.org/asc/310/912/#310-912-35-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:37.893Z to 2026-09-09T23:28:37.893Z Record version: sha256:610c37dc8748af9ca9e6fde1eb59c21bfaf4f544ff85a8b30a5619f757cef245 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. A purchase of inventory items recognized in accordance with the guidance in paragraph [912-330-25-1](https://asc.understandingaccounting.org/asc/330/912/#330-912-25-1) shall be applied, together with other disposal credits, against the termination claim receivable. 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. Source downloaded (UTC): 2026-09-09T23:28:43.048Z to 2026-09-09T23:28:43.048Z Record version: sha256:022e8afdc40fb2153c6399872d16c5c291c103743ee2d2f1a565215fba1b73e7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 310-912-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/310/912/#50-disclosure) SEC content: no #### Termination Claims ##### [310-912-50-1](https://asc.understandingaccounting.org/asc/310/912/#310-912-50-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:43.048Z to 2026-09-09T23:28:43.048Z Record version: sha256:b5e5e5c006067b09c5d37e49c71d80919aec52ed4d24dc99cac566534a3c0875 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:43.048Z to 2026-09-09T23:28:43.048Z Record version: sha256:c3348a47d71765a53394c4407a9f706a89c4db9ce7bed25ac54da5216a7edc6e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The termination claim shall be separately disclosed. #### Progress Payments ##### [310-912-50-3](https://asc.understandingaccounting.org/asc/310/912/#310-912-50-3) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:43.048Z to 2026-09-09T23:28:43.048Z Record version: sha256:5f404a13a18d3cbf5736fad3121d2035c2f6b1e8fadf2e85cf1895c1a9b1c27d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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) Pending content: no Source downloaded (UTC): 2026-09-09T23:28:43.048Z to 2026-09-09T23:28:43.048Z Record version: sha256:fb71472811b09955ffd57b968a8461a1033352d89f02a15a41d9a16056c07fcb 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 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.