Maintenance Revenue
Code: 4122
👁 Views: 170
Account Information
| Financial Statement | 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).
📐 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 is revenue from long-term maintenance contracts recognized?
A: Recognized over the contract period (usually monthly on a straight-line basis), under IFRS 15.