10 docs tagged with "Contracts"

An entity's right to consideration in exchange for goods or services transferred, conditioned on something other than the passage of time. It reflects...

The requirement to account for two or more contracts entered into at or near the same time with the same customer as a single contract. This prevents ...

An entity's obligation to transfer goods or services for which it has already received consideration from the customer. It sits on the balance sheet u...

A change to an existing contract that requires an immediate, retroactive adjustment to revenue recognized to date. This happens when the remaining goo...

A change to the scope or price of a contract that is treated as a completely new, separate contract going forward. This occurs when additional distinc...

Direct costs incurred to satisfy a performance obligation that generate resources used in the future, which must be capitalized. They align the recogn...

Incremental costs of obtaining a contract, such as sales commissions, that the entity expects to recover and must capitalize. These costs are then amo...

A contract in which the unavoidable costs of meeting the obligations exceed the expected economic benefits. The entire expected loss must be recognize...

A promise in a contract with a customer to transfer a good or service that is distinct. It serves as the foundational unit of account for determining ...

A contract where an entity sells an asset but promises or has the option to repurchase it, often blocking immediate revenue recognition. These are typ...