Add to favorites
ASC 280-10-50-42 provides the entity-wide disclosure requirements for major customers.

Excerpt from ASC 280-10-50-42

A public entity shall provide information about the extent of its reliance on its major customers. If revenues from transactions with a single external customer amount to 10 percent or more of a public entity’s revenues, the public entity shall disclose that fact, the total amount of revenues from each such customer, and the identity of the segment or segments reporting the revenues. The public entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For purposes of this Subtopic, a group of entities known to a reporting public entity to be under common control shall be considered as a single customer, and the federal government, a state government, a local government (for example, a county or municipality), or a foreign government each shall be considered as a single customer.

One of the objectives of disclosing information about major customers is to provide a measure of the concentration of credit risk to the reporting entity. Neither the identity of a major customer or the amount of revenues that each segment reports from that customer is required to be disclosed.
ASC 280-10-55-52 includes an example that illustrates the disclosures required by ASC 280-10-50-42.

Welcome to Viewpoint, the new platform that replaces Inform. Once you have viewed this piece of content, to ensure you can access the content most relevant to you, please confirm your territory.

Your session has expired

Please use the button below to sign in again.
If this problem persists please contact support.

signin option menu option suggested option contentmouse option displaycontent option contentpage option relatedlink option prevandafter option trending option searchicon option search option feedback option end slide