# ASC 912-20-50: Contractors—Federal Government — Contract Costs — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/912/20/#50-disclosure)

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## ASC 912-20-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/912/20/#50-disclosure)

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#### Default Terminations

##### [912-20-50-1](https://asc.understandingaccounting.org/asc/912/20/#912-20-50-1)

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A loss on termination of a contract for default that is not reported as a separate item in the income statement pursuant to paragraph [912-20-45-5](https://asc.understandingaccounting.org/asc/912/20/#912-20-45-5) shall be disclosed in the notes to financial statements in conformity with Subtopic 450-20.