{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/450/912/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"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.","topic":"450","topic_title":"Contingencies","subtopic":"450-912","subtopic_title":"Contractors—Federal Government","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"450-912-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic provides guidance to government contractors related to contingencies associated with contracts terminated for the convenience of the government and <a href=\"/glossary/s/#subcontractor-claims\" class=\"term\" title=\"Those obligations of a contractor to a subcontractor that arise from the subcontractor's costs incurred through transactions that were related to a contract terminated but did not result in the transfer of billable materials or services to the contractor before termination.\"><span>subcontractor claims</span></a> under terminated contracts.</div></div>","snippet":"This Subtopic provides guidance to government contractors related to contingencies associated with contracts terminated for the convenience of the government and subcontractor claims under terminated contracts.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ab8eeec8e5b7937b5e30c0c916296394d9b9b9a27a48a51c751a90524bd6d51c","downloaded_from":"2026-09-10T00:28:16.856Z","last_downloaded_at":"2026-09-10T00:28:16.856Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478227","source_sha256":"aa4a7c2ee4e17b9fcb43f99405648eaa913040fd1c302151c21943556ae5f77f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2e45c7c243ed023fb0a20808a4f1d1513a3993be3babd87779ddd56d58f1ea38","downloaded_from":"2026-09-10T00:28:16.856Z","last_downloaded_at":"2026-09-10T00:28:16.856Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478227","source_sha256":"aa4a7c2ee4e17b9fcb43f99405648eaa913040fd1c302151c21943556ae5f77f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0e6bc9879f2300669d31c251757594ccf04319f1d674ae3ab315dafef9304cd1","downloaded_from":"2026-09-10T00:28:16.856Z","last_downloaded_at":"2026-09-10T00:28:16.856Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478227","source_sha256":"aa4a7c2ee4e17b9fcb43f99405648eaa913040fd1c302151c21943556ae5f77f"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0e6bc9879f2300669d31c251757594ccf04319f1d674ae3ab315dafef9304cd1","downloaded_from":"2026-09-10T00:28:16.856Z","last_downloaded_at":"2026-09-10T00:28:16.856Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478227","source_sha256":"aa4a7c2ee4e17b9fcb43f99405648eaa913040fd1c302151c21943556ae5f77f"}}