# ASC 912-10-15: Contractors—Federal Government — Overall — 15 Scope and Scope Exceptions

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/912/10/#15-scope-and-scope-exceptions)

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): 2026-09-10T02:10:02.232Z to 2026-09-10T02:10:02.232Z

Record version: sha256:e76ee950ee5f6a65f84004095c3360dc740196345bac8d6aeff2507cc4b6d866

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 912-10-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/912/10/#15-scope-and-scope-exceptions)

SEC content: no

#### Overall Guidance

##### [912-10-15-1](https://asc.understandingaccounting.org/asc/912/10/#912-10-15-1)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:10:02.232Z to 2026-09-10T02:10:02.232Z

Record version: sha256:522a58c6648b2982243a2551c6dfd1414c768c9fbad674587274aa119bc0d586

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


The Subtopics within the Contractors—Federal Government Topic only provide incremental industry-specific guidance for the entities defined in this Scope Section, or as further defined in the Scope Sections of the individual Subtopics. Entities within the scope of this Topic shall also comply with the applicable standards not included in this Topic. Except where the text clearly indicates otherwise, the term _contractor_ is used to denote either a prime contractor or a subcontractor, and the term _contract_ to denote either a prime contract or a subcontract.

#### Entities

##### [912-10-15-2](https://asc.understandingaccounting.org/asc/912/10/#912-10-15-2)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:10:02.232Z to 2026-09-10T02:10:02.232Z

Record version: sha256:72060389110cb132863ec801a2725ac4ce2f6907ea7c67d095f416637161b622

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


The guidance in this Topic applies to all entities that engage in federal government contracts.

#### Transactions

##### [912-10-15-3](https://asc.understandingaccounting.org/asc/912/10/#912-10-15-3)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:10:02.232Z to 2026-09-10T02:10:02.232Z

Record version: sha256:250e0eaf09a9e4ebe40149fd49364d47404cd532a9ca5756588e9a58f0a12b5f

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


The guidance in this Topic applies to all of the following transactions and activities:

1.  a
    
    [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.")
    
2.  b
    
    [Subparagraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).
    
3.  c
    
    Fixed-price war and defense supply contracts terminated, in whole or in part, for the convenience of the government.

##### [912-10-15-4](https://asc.understandingaccounting.org/asc/912/10/#912-10-15-4)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:10:02.232Z to 2026-09-10T02:10:02.232Z

Record version: sha256:3ea90a35d4263c2357d4a385ea32c486725fe7e4d4a9e2b49afbe5c3393f4fbf

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


The guidance in this Topic with respect to fixed-price war and defense supply contracts terminated, in whole or in part, for the convenience of the government does not specifically apply to terminated cost-plus-fixed-fee contracts nor to contracts for facilities or services. However, the conclusions reached herein may serve as guides for the accounting applicable to such contracts.