[AICPA FARE] The Five-Step Approach | 수익인식 5단계

Revenue Recognition Introduction | 수익인식

Revenue recognition occurs when an entity satisfies a performance obligation by transferring either a good or a service to a customer.

Revenue should be recognized at an amount that reflects the expected consideration the entity is entitled to receive in exchange for the good or service provided.

수익은 기업이 재화 또는 서비스를 고객에게 이전하여 수행 의무를 충족하였을 때 발생한다.

수익은 기업이 제공된 재화나 용역으로 받은 것에 대한 대가로 수익을 측정한다.

 

<수익인식 5단계>

Step 1. Identify the contract with the customer (계약식별)

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Step 2. Identify the separate performance obligations in the contract (수행의무식별)

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Step 3. Determine the transaction price (거래가격결정)

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Step 4. Allocate the transaction price to the separate performance obligation (거래가격배분)

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Step 5. Recognize revenue when or as the entity satisfies each performance obligation (수익인식)

 

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Step 1. Identify the contract with the customer | 계약식별

(1) All parties have approved the contract and have committed to perform their obligations.

(2) The rights of each party regarding contracted goods or services are identified.

(3) Payment terms can be identified.

(4) The contract has commercial substance (상업적 실질), meaning future cash flows (amount, risk, and timing) are expected to change as a result of the contract.

(5) It is probable (based on the customer's intent and ability to pay when due) that the entity will collect (회수가능성) substantially all of the consideration due under the contract.

 

If not recognized as revenue, the consideration received is booked as a liability.

 

When a modification occurs, it is either treated as a new contract or as a modification of the existing contract. The modification is treated as a new contract if both the scope increases due to the addition of distinct goods or services and the price increase appropriately reflects the stand-alone selling prices of the additional goods/services (가격인상은 추가되는 상품/서비스의 개별판매가격을 적절하게 반영)

 

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Step 2. Identify the separate performance obligations in the contract | 수행의무식별

In order to be distinct, both criteria below must be met (아래 2가지를 만족하는 경우 개별 식별 의무로 봄)

(1) The promise to transfer the good or service is separately identifiable from other goods or services in the contract.

(2) The customer can benefit either form the good or service independently or when combined with the customer's available resources.

 

Factors that indicate two or more promises to transfer a good or a service to a customer are not separately identifiable include (but are not limited to) the following (아래의 경우는 하나의 수행의무로 봄)

(1) The goods or services are highly interrelated or interdependent.

(2) The entity provides a significant service of integrating the good or service with other goods or services promised in the contract into a bundle of goods or services that represent the combined output contracted for by the customer.

 

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Step 3. Determine the Transaction Price | 거래가격결정

(1) Variable Consideration (변동대가)

The amount of variable consideration should be estimated by taking a range of possible amounts and using either the expected value (which sums probability-weighted amounts) or the most likely amount-whichever is assumed to be the better predictor.

변동대가의 금액은 가능한 금액의 범위를 선택하고 기대값(확률 가중 금액의 합계) 또는 가능성이 가장 높은 금액 중 더 나은 예측 변수로 가정되는 금액을 사용하여 추정해야 한다.

 

(2) Significant Financing (유의적 금융요소)

Time value of money should be an adjustment to the transaction price if the timing of the payments per the contract provides either the customer or the entity with a significant benefit in regard to financing the transfer of goods or services.

유의적 금융요소 : 화폐의 시간가치를 고려하여 거래가격에 반영해야 한다. 

 

(3) Noncash Consideration (비현금대가)

Noncash consideration should be measured at fair value at contract inception.

비현금대가는 내가 받은 대가의 FV로 측정

 

(4) Consideration Payable to a Customer (판매장려금)

Any consideration (cash, credits, vouchers, etc.) that is payable to a customer should be treated as a reduction in the transaction price and revenue recognized by the entity unless the entity is receiving goods or services transferred by the customer.

판매장려금은 Transaction Price 에서 차감.

 

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Step 4. Allocate the Transaction Price to the Performance Obligation in the Contract | 거래가격배분

If there is more than one performance obligation within a contract, the transaction price should be allocated to each separate performance obligation based on the amount of consideration that would be expected for satisfying each unique obligation.

한 계약에 한개 이상의 수행의무가 있는 경우, 거래가격은 각 고유한 의무를 충족할 것으로 기대되는 대가의 금액을 기준으로 개별 수행의무에 배분되어야 함.

 

If the transaction price changes after contract inception, the change should be allocated to the performance obligations in the contract on the same basis that was used at inception.

거래가격이 바뀌더라도 기존 거래가격의 비율로 새로운 거래가격을 할당

 

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Step 5. Recognize Revenue When (or as) the Entity Satisfies a Performance Obligation | 수익인식

Performance obligations may be satisfied either over time or at a point in time.

수행의무는 기간 또는 특정 시점에 인식한다.

 

<Over time>

(1) The entity's performance creates or enhances an asset that the customer controls. 자산의 증가

(2) The customer receives and consumes the benefits of the entity's performance as the entity performs it (e.g., service contracts, such as a cleaning service or a monthly payroll processing service). 효익을 즉시 누림

(3) The entity's performance does not create an asset with alternative use to the entity (assessed at inception) and the entity has an enforceable right to receive payment for performance completed to date. 지급청구권을 가짐

 

In order to recognize revenue, the entity must be able to reasonably measure progress toward completion. Progress can be measured using output and input methods.

진행사항은 input-output method를 활용

 

<input-output method>

Input method	투입 비용 기준
Output method	공정(진행률) 기준
Straight-line basis	전체기간(n) 기준
기준설정이 어려울 때	Cost only

 

<at a point in time>

(1) The entity has a right to payment and the customer has an obligation to pay for an asset.

기업이 지급받을 권리를 가지고, 고객은 지급할 의무를 가짐

(2) The customer has legal title to the asset.

고객이 법적 소유권을 보유

(3) The entity has transferred physical possession of the asset.

기업이 자산의 물리적 점유를 이전했음

(4) The customer has the significant rewards and risks of ownership.

고객은 소유권에 따른 상당한 보상과 위험을 가지고 있음

(5) The customer has accepted the asset.

고객이 자산을 수락