contract with a customer

Revenue2

1. 605-912Contractors—Federal Government605 Revenue Recognition

   ASC 605-912 was the legacy industry guidance on revenue recognition for contractors with the U.S. federal government, covering matters such as recognition of fees, contract terminations, renegotiation and price redetermination. Every paragraph in the subtopic (Sections 05, 15, 25, and 50) was superseded by ASU 2014-09, so the subtopic contains no remaining substantive guidance. Federal government contractors now apply ASC 606 (with related guidance in ASC 340-40) and, if applicable, the residual industry guidance in ASC 912.

2. 610-10Overall610 Other Income

   ASC 610-10 is the Overall subtopic of the Other Income Topic, which covers income that is not revenue from a contract with a customer under Topic 606 and is not addressed by other Topics (such as Topic 842 on leases or Topic 944 on insurance) or other revenue/income recognition guidance. It is largely a scope-setting subtopic: it establishes the pervasive scope for Topic 610 and identifies its Subtopics — Overall (610-10), Gains and Losses from the Derecognition of Nonfinancial Assets (610-20), and Gains and Losses on Involuntary Conversions (610-30). The guidance applies to all entities.