Читать книгу Revenue Recognition - Renee Rampulla - Страница 58

After an entity has determined that it has a contract with a customer, thereby meaning that the criterion in step 1 has been achieved, they will turn their attention to step 2. This is performed by assessing, at the inception of the contract, the types of goods or services, or both, promised in the contract with the customer. The entity will need to determine whether each of these goods or services, or both, meet the definition of a separate performance obligation. Therefore, it is important to understand the definition of a performance obligation, which is given in the FASB Accounting Standards Codification^® (ASC) master glossary as:

Performance Obligation: A promise in a contract with a customer to transfer to the customer either:

1 A good or service (or a bundle of goods or services) that is distinct

2 A series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer.