Maintenance Revenue
Code: 4122
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Account Information
| Account Type | Income Statement |
| Normal Balance | Credit |
Definition
Revenue from maintenance services
Note: This account may be broken down into sub-ledgers as needed (e.g., customer/supplier/bank names or branches).
International Accounting Standards
IFRS
IFRS 15
Revenue from Contracts with Customers
Maintenance contracts recognised over time as services performed. Straight-line if uniform performance.
US GAAP
ASC 606
Revenue from Contracts with Customers
Same over-time recognition. Stand-alone selling price used to allocate bundled contracts.