# ASC 405-912-05: Liabilities — Contractors—Federal Government — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/405/912/#05-overview-and-background)

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## ASC 405-912-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/405/912/#05-overview-and-background)

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##### [405-912-05-1](https://asc.understandingaccounting.org/asc/405/912/#405-912-05-1)

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This Subtopic provides guidance to government contractors on accounting for liabilities associated with claims of subcontractors on [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.") and progress payments.