Finance Revenue Recognition Checklist

Please check the corresponding box once you have completed a task.

Contract Review

• Ensure contracts are properly authorized and documented.

• Assess the enforceability of contract terms.

• Examine the potential impact of contract termination or modification.

Performance Obligations

• Evaluate the transfer of control criteria for each performance obligation.

• Assess the existence of any implied or explicit warranties.

Transaction Price

• Consider the time value of money if the payment is deferred.

• Evaluate the need for any significant financing components.

Timing of Revenue Recognition

• Analyze the impact of customer acceptance criteria.

• Evaluate the impact of any customer rights of return.

Disclosure Requirements

• Ensure compliance with disclosure requirements under applicable accounting standards.

• Disclose the methods used to determine the transaction price.

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