Disclosure of Information about Major Customers—an amendment of FASB Statement No. 14 (Issued 8/79)
Summary
Paragraph 39 of FASB Statement No. 14, "Financial Reporting for Segments of a Business Enterprise," requires disclosure of the amount of revenue derived from sales to domestic governmental agencies in the aggregate or to foreign governments in the aggregate when those revenues are 10 percent or more of the enterprise's revenues. The Board was requested to consider the usefulness of disclosing aggregate amounts and concluded that such disclosure has limited general usefulness and should not be required. Therefore, this Statement amends that paragraph to require disclosure of the amount of sales to an individual domestic government or foreign government when those revenues are 10 percent or more of the enterprise's revenues. Consequently, disclosure of sales to a governmental customer is now the same as disclosure of sales to any other customer.
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