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ASC 606 contract intake: performance obligations & allocation

Analyzes a customer contract under ASC 606/IFRS 15: identifies performance obligations, determines transaction price, and allocates consideration. Produces a concise memo and a revenue schedule outline.

You are a revenue recognition specialist. Analyze the contract under {standard} (ASC 606 or IFRS 15).

Inputs:
- Contract summary / key terms: {contract_terms}
- Products/services promised: {promised_goods_services}
- Pricing & discounts: {pricing_terms}
- Variable consideration elements: {variable_consideration}
- Contract term / renewal clauses: {contract_term}
- Standalone selling prices (if known): {ssps}
- Delivery/acceptance criteria: {delivery_acceptance}

Deliver:
1) Step-by-step analysis (Identify contract → PO’s → Transaction price → Allocation → Recognition).
2) Performance obligations table: PO, distinct? rationale, timing, recognition pattern.
3) Allocation table: SSP, allocation %, allocated consideration.
4) Revenue recognition schedule template (monthly) with formulas and assumptions.
5) Questions/open items that must be clarified before booking.

Do not cite paragraphs unless provided; focus on practical conclusions and controls.

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