Service Revenue
Code: 4120
👁 Views: 40
Account Information
| Account Type | Income Statement |
| Normal Balance | Credit |
Definition
Revenue from services
Sub-accounts
4121
Consulting Revenue
4122
Maintenance Revenue
International Accounting Standards
IFRS
IFRS 15
Revenue from Contracts with Customers
Service revenue typically recognised over time as customer simultaneously receives and consumes benefits.
US GAAP
ASC 606
Revenue from Contracts with Customers
Same over-time recognition criteria. Series of distinct services may be treated as single obligation.