Читать книгу Revenue Recognition - Renee Rampulla - Страница 46

If a contract meets the five-step criteria at assessment, an entity will not reassess the existence of a contract unless there is a significant change in the facts. At times, contracts may be modified for changes in scope, price, or both. A contract modification exists when the parties to a contract approve a modification that either creates new or changes existing enforceable rights and obligations of the parties involved in the contract. For example, a customer’s financial capabilities may deteriorate to the point that further collectability ceases to be probable and therefore the entity may need to reassess whether a contract for future goods or services continue to exist.

When a contract with a customer does not meet the five criteria and an entity receives consideration from the customer, the entity should recognize the consideration received as revenue only when one or more of the following events have occurred:

 The entity has no remaining obligations to transfer goods or services to the customer, and all, or substantially all, of the consideration promised by the customer has been received by the entity and is non-refundable.

 The contract has been terminated, and the consideration received from the customer is non- refundable.

 The entity has transferred control of the goods or services to which the consideration that has been received relates, the entity has stopped transferring goods or services to the customer (if applicable) and has no obligation under the contract to transfer additional goods or services, and the consideration received from the customer is non-refundable.

An entity should recognize the consideration received from a customer as a liability until one of the above events occurs or until the five criteria are subsequently met. Depending on the facts and circumstances relating to the contract, the liability recognized represents the entity’s obligation to either transfer goods or services in the future or refund the consideration received. In either case, the liability should be measured at the amount of consideration received from the customer.