Summary of Statement No. 30
Summary of Statement No. 30
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.