# ASC 705-912: Cost of Sales and Services — Contractors—Federal Government Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/705/912/) 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): 2026-09-10T00:56:15.317Z to 2026-09-10T00:56:24.655Z Record version: sha256:fb7f1a5d6c1a6432615fe002c6b148f810c1fca8f41562bd3e2b6f7415fc6b1c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-912: Cost of Sales and Services — Contractors—Federal Government ### Machine-generated study aids ```json { "summary": "ASC 705-912 formerly contained cost-of-sales guidance for contractors with the federal government, addressing matters such as contract costs and related recognition and disclosure. Every paragraph in the subtopic (scope, recognition, and disclosure) was superseded by ASU 2014-09 (Revenue from Contracts with Customers). The subtopic is therefore an empty shell; federal government contractors now apply ASC 606 and the cost guidance in ASC 340-40.", "key_points": [ "All substantive paragraphs — 705-912-05-1 (overview), 705-912-15-1 (scope), 705-912-25-1 through 25-3 (recognition), and 705-912-50-1 (disclosure) — were superseded by Accounting Standards Update No. 2014-09.", "No extant recognition, measurement, or disclosure requirements remain in ASC 705-912.", "Revenue and related contract accounting for federal government contractors is now governed by ASC 606, Revenue from Contracts with Customers.", "Costs to obtain and fulfill a contract that were previously addressed by industry cost guidance are now addressed in ASC 340-40, Other Assets and Deferred Costs—Contracts with Customers.", "Entities should consult ASC 912 (Contractors—Federal Government) industry subtopics for any guidance that survived ASU 2014-09 and the transition provisions in ASC 606-10-65-1." ], "categories": [ "Industry-specific", "Revenue", "Transition and effective dates" ], "audience_level": "intermediate", "student_note": "This subtopic is a placeholder — knowing that ASU 2014-09 wiped out the legacy industry-specific contractor cost guidance is the whole point. The common mistake is citing 705-912 as live authority for government contract costs instead of ASC 606 and ASC 340-40.", "related_topics": [ "606", "340-40", "912", "912-20", "705" ], "key_concepts": [ "superseded guidance", "federal government contractors", "cost of sales", "contract costs", "revenue from contracts with customers", "industry-specific guidance" ] } ``` Source downloaded (UTC): 2026-09-10T00:56:15.317Z to 2026-09-10T00:56:15.317Z Record version: sha256:76ce7ffd2bce5e0522ecf962b794b87c35362816d683335cc6f28c6ae3539122 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-912-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/705/912/#00-status) SEC content: no ##### [705-912-00-1](https://asc.understandingaccounting.org/asc/705/912/#705-912-00-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:56:15.317Z to 2026-09-10T00:56:15.317Z Record version: sha256:4dbcfa478c7a09585e8bbb66d5731d10d7c3fe3aa196c89199ad2f8ae77e6b55 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.

Paragraph	Action	Accounting Standards Update	Date

912-705-05-1	Superseded	Accounting Standards Update No. 2014-09	05/28/2014
912-705-15-1	Superseded	Accounting Standards Update No. 2014-09	05/28/2014
912-705-25-1 through 25-3	Superseded	Accounting Standards Update No. 2014-09	05/28/2014
912-705-50-1	Superseded	Accounting Standards Update No. 2014-09	05/28/2014

Source downloaded (UTC): 2026-09-10T00:56:18.551Z to 2026-09-10T00:56:18.551Z Record version: sha256:51fd65305761a4bdbe6f1f9ae4a3dd9887266026035dfe81d3152b5d456360ea Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-912-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/705/912/#05-overview-and-background) SEC content: no ##### [705-912-05-1](https://asc.understandingaccounting.org/asc/705/912/#705-912-05-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:56:18.551Z to 2026-09-10T00:56:18.551Z Record version: sha256:234f0261205a6a9496ac6eac21c49c39426d4b5d0a101d6bbaa1ca87dd916f93 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): 2026-09-10T00:56:20.681Z to 2026-09-10T00:56:20.681Z Record version: sha256:15a1f161566f26ff6378cf054318ac3331f57d1dbabceca72b466de1a1c25759 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-912-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/705/912/#15-scope-and-scope-exceptions) SEC content: no ##### [705-912-15-1](https://asc.understandingaccounting.org/asc/705/912/#705-912-15-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:56:20.681Z to 2026-09-10T00:56:20.681Z Record version: sha256:0ed86f5e9257133305d0b0a8b750b802bafafcb19267e5a8dec8fa7d9a0b4cf9 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): 2026-09-10T00:56:22.833Z to 2026-09-10T00:56:22.833Z Record version: sha256:38042a639d73524a767ae330f2c7518ca4257bc5e40bfc4b7bb1a7979adf14a0 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-912-25: 25 Recognition [Read section](https://asc.understandingaccounting.org/asc/705/912/#25-recognition) SEC content: no ##### [705-912-25-1](https://asc.understandingaccounting.org/asc/705/912/#705-912-25-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:56:22.833Z to 2026-09-10T00:56:22.833Z Record version: sha256:5f75330efb6153fe1467286fa9efc2d66c06c4c495dbf5f593e3cf8ce7a602a6 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/). ##### [705-912-25-2](https://asc.understandingaccounting.org/asc/705/912/#705-912-25-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:56:22.833Z to 2026-09-10T00:56:22.833Z Record version: sha256:7293c869adb0333f3fd0603d9ecf328ff3c1881b8bcae6069f87e94b779c56ae 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/). ##### [705-912-25-3](https://asc.understandingaccounting.org/asc/705/912/#705-912-25-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:56:22.833Z to 2026-09-10T00:56:22.833Z Record version: sha256:4643327096004f19ac655c1f322027cbc239887b42ee0dde21a32873e959c364 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): 2026-09-10T00:56:24.655Z to 2026-09-10T00:56:24.655Z Record version: sha256:27ee6b3b99cc95473d748d5c4bf790fed7c4b7549a3dcf1b47cbb00ddeee5e7a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 705-912-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/705/912/#50-disclosure) SEC content: no ##### [705-912-50-1](https://asc.understandingaccounting.org/asc/705/912/#705-912-50-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:56:24.655Z to 2026-09-10T00:56:24.655Z Record version: sha256:f4521ee149b94975faedf4f0fee65e6fdd1bc8dd6fe47754a7de573fede18548 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/).