inventory

Presentation1

1. 220-912Contractors—Federal Government220 Income Statement—Reporting Comprehensive Income

   This industry-specific subtopic addresses how a federal government contractor presents amounts in the income statement relating to terminated contracts. After ASC 2014-09 superseded most of its guidance, the only surviving rule is that items the contractor keeps without making a claim for cost or loss stay on the balance sheet as inventory or deferred charges (220-912-45-3).