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Milestone Payments

The agreement has multiple milestone payments. The determination of the payment schedule was to improve cash-flow on the project. The amount of the payments do not represent the value provided. The customer has signed off and paid several of the milestones as the project has progressed. What literature issued by FASB that I can point to establish the proper accounting and revenue recognition. ASC 605-25 does not apply. I can not find a compelling example in SAB #104. Would appreciate your feedback and guidance. Thank you.

Answers

Jeff Campbell
Title: Financial Consultant
Company: Independent Consultant - Freelancer
(Financial Consultant, Independent Consultant - Freelancer) |

quite a few views.

Anonymous
(CEO) |

For a long time people used SOP 81-1 for Contract Accounting ...

1680 views
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