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ASC 606 Compliance

Ensure rigorous compliance with the ASC 606 (IFRS 15) revenue recognition standards. Our engine automates the application of the five-step model to every contract.

The Five-Step Model​

  1. Identify the Contract: Formalize the agreement with the customer.
  2. Identify Performance Obligations: Separate distinct goods or services.
  3. Determine Transaction Price: Calculate total consideration, including variable elements.
  4. Allocate Transaction Price: Assign value to each performance obligation.
  5. Recognize Revenue: Automate recognition as obligations are satisfied.