Maintenance & Operation Contracts Revenue
Code: 4132
👁 Views: 108
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Credit |
Definition
Revenue from long-term maintenance and operation contracts for projects after delivery, such as building maintenance or facility operation.
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IFRS 15
Revenue from Contracts with Customers
US GAAP
ASC 606
Revenue from Contracts with Customers
❓ Frequently Asked Questions
Q: How are maintenance and operation contract revenues recognized?
A: Over the contract period, usually using the straight-line method or percentage of completion.