Finance Revenue Recognition Checklist
Finance Revenue Recognition Checklist
Please check the corresponding box once you have completed a task.
Contract Review
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Ensure contracts are properly authorized and documented.
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Assess the enforceability of contract terms.
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Examine the potential impact of contract termination or modification.
Performance Obligations
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Evaluate the transfer of control criteria for each performance obligation.
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Assess the existence of any implied or explicit warranties.
Transaction Price
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Consider the time value of money if the payment is deferred.
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Evaluate the need for any significant financing components.
Timing of Revenue Recognition
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Analyze the impact of customer acceptance criteria.
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Evaluate the impact of any customer rights of return.
Disclosure Requirements
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Ensure compliance with disclosure requirements under applicable accounting standards.
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Disclose the methods used to determine the transaction price.
