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Statement No. 30 Disclosure of Information about Major Customers-an amendment of FASB Statement No. 14 STATUS Issue Date: August 1979 Effective Date: For fiscal years beginning after December 15, 1979 Affects: Supersedes FAS 14, paragraph 39 Affected by: No other pronouncements Other Interpretive Pronouncement: FTB 79-5 Abbreviations for Accounting Pronouncements FAS - FASB Statements FIN - FASB Interpretations FTB - FASB Technical Bulletins APB - APB Opinions AIN - AICPA Interpretations ARB - Accounting Research Bulletins CON - FASB Concepts EITF - EITF Issues Q&A - FASB Implementation Guides 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. Copyright by Financial Accounting Standards Board. All Rights Reserved. Used by Permission.
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