# ASC 606 Compliance

Ensure rigorous compliance with the ASC 606 (IFRS 15) revenue recognition standards. Our engine automates the application of the five-step model to every contract.

## The Five-Step Model

1. **Identify the Contract**: Formalize the agreement with the customer.
2. **Identify Performance Obligations**: Separate distinct goods or services.
3. **Determine Transaction Price**: Calculate total consideration, including variable elements.
4. **Allocate Transaction Price**: Assign value to each performance obligation.
5. **Recognize Revenue**: Automate recognition as obligations are satisfied.