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Funding a business
Revenue recognition in Business
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[QUOTE="Yakub02, post: 308073, member: 94426"] [B]Output methods[/B] Output methods recognise revenue on the basis of direct measurements of the value to the customer of the goods or services transferred to date relative to the remaining goods or services promised under the contract. Output methods include methods such as: surveys of performance completed to date; appraisals of results achieved; milestones reached; time elapsed and units produced; or units delivered. The output should faithfully depict the entity’s performance towards complete satisfaction of the performance obligation. The disadvantages of output methods are that the outputs used may not be directly observable and the information required to apply them may not be available without undue cost. Therefore, an input method may be necessary [B]Input methods[/B] Input methods recognise revenue on the basis of the entity’s efforts or inputs to the satisfaction of a performance obligation by comparing input to date to the expected total input. For example: labour hours expended relative to total expected labour hours to satisfy the performance obligation; and costs incurred relative to expected total costs to satisfy the performance obligation. It may be appropriate to recognise revenue on a straight-line basis where they are expended evenly throughout the performance period. [/QUOTE]
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