Examples of 'performance obligation' in a sentence
Meaning of "performance obligation"
This phrase is used in the context of accounting or business contracts to refer to a promise or commitment made by one party to another to deliver goods or services. It implies that there is a contractual obligation to fulfill specific performance requirements, such as providing a product or completing a service, in exchange for consideration or payment
How to use "performance obligation" in a sentence
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performance obligation
Revenue is recognized as each performance obligation is satisfied.
A performance obligation is a promise to transfer goods or services to a customer.
Recognize revenue as each performance obligation is met.
A performance obligation is a promise to deliver a good or service to the customer.
We recognize revenue as each performance obligation is satisfied.
A performance obligation is the basically promise to transfer goods or services to a customer.
Recognize revenue when performance obligation is satisfied.
Measuring progress towards complete satisfaction of a performance obligation.
Determine whether a performance obligation is satisfied over time.
Each of these represents a distinct performance obligation.
A performance obligation is the promise to transfer a good or service to the customer.
Satisfaction of a performance obligation over time.
Recognize revenue as the entity satisfies a performance obligation.
A performance obligation is a promise in a contract with a customer to transfer a distinct good or service.
They represent a single performance obligation.
See also
Performance obligation for voluntary contributions Agreements.
Each study to be completed generally represents a separate performance obligation.
Revenue resulting from such performance obligations is to be recognized as a single performance obligation.
The transaction price should be allocated to each performance obligation.
No road carrier can provide a performance obligation for the delivery of the goods.
Allocate the transaction price to each separate performance obligation.
Identify the performance obligation in the contract ;.
Methods for measuring progress towards complete satisfaction of a performance obligation.
Insurer 's performance obligation in case of reinstatement.
Evaluating whether a series of goods or services should be treated as a single performance obligation.
Generally, the only performance obligation is to build the asset.
Recognize the applicable allocation of revenue when the entity satisfies each performance obligation.
Each performance obligation has its timing of revenue recognition 4.
The Company considers a performance obligation.
A performance obligation is satisfied over time if one of the following three conditions are met,.
Therefore, those setup activities are not a performance obligation.
Recognize revenue when a performance obligation is satisfied that is, at the point when.
However, this is an obligation of means and not a performance obligation.
Insurer 's performance obligation in case of non-reinstatement.
Recognition of revenue when, or as the performance obligation has been satisfied.
In other sectors, it concerns contract-related activities accounted for as an overall performance obligation.
Such payment is a condition precedent to any performance obligation of Contractor under Section 1.b.
When a cost incurred does not contribute to an entity 's progress in satisfying the performance obligation.
Insurer decreases its performance obligation by 50.
When a cost incurred is not proportionate to the entity 's progress in satisfying the performance obligation.
Identify a performance obligation ( the promise to transfer a good or a service to a customer ) in a contract ;.
A contract 's transaction price is allocated to each distinct performance obligation.
The entity recognises revenue from the satisfaction of the performance obligation in accordance with paragraph B16.
The Group 's contracts with customers for the sale of vehicles generally include one performance obligation.
Accordingly, the Committee observed that there is one performance obligation in the contract.
ALFANO 's obligations are duty of care and not a performance obligation.
Step 5, Recognize revenue when each performance obligation is satisfied.
Recognise revenue when ( or as ) the entity satisfies a performance obligation.
It is assumed that the entity identifies a single performance obligation applying paragraphs 22-30.
Paragraphs 76-86 do not apply if a contract has only one performance obligation.
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Examples of using Obligation
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And we have a moral obligation to at least try
The obligation not to arbitrarily withhold consent
But you have no obligation to treat her
