# ASC 405-912-45: Liabilities — Contractors—Federal Government — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/405/912/#45-other-presentation-matters)

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## ASC 405-912-45: 45 Other Presentation Matters

[Read section](https://asc.understandingaccounting.org/asc/405/912/#45-other-presentation-matters)

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##### [405-912-45-1](https://asc.understandingaccounting.org/asc/405/912/#405-912-45-1)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

##### [405-912-45-2](https://asc.understandingaccounting.org/asc/405/912/#405-912-45-2)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

#### Balance Sheet

##### [405-912-45-3](https://asc.understandingaccounting.org/asc/405/912/#405-912-45-3)

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Loans negotiated on the security of the termination claim shall be shown as current liabilities.

##### [405-912-45-4](https://asc.understandingaccounting.org/asc/405/912/#405-912-45-4)

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Termination loans are liabilities to third parties, even though guaranteed in whole or in part by the government, and shall be presented in the balance sheet as liabilities, with appropriate cross-reference to the related claim or claims.

##### [405-912-45-5](https://asc.understandingaccounting.org/asc/405/912/#405-912-45-5)

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If a terminated contract is one on which [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.") had previously been received, the financial statements of the contractor issued before final collection of the claim shall reflect any balance of those advances as deductions from the claim receivable.

##### [405-912-45-6](https://asc.understandingaccounting.org/asc/405/912/#405-912-45-6)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

#### Cash Flow Statement—Progress and Advance Payments

##### [405-912-45-7](https://asc.understandingaccounting.org/asc/405/912/#405-912-45-7)

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If progress and advance payments are accounted for as borrowings, such amounts shall be reported as cash received from financing activities.