Finance & Accounting / Controllership
Deferred Revenue Contract Liability
Money you've been paid (or invoiced) for work you haven't finished, a liability, not income yet.
The fork, why two teams get different numbers
ASC 606 renamed the concept "contract liability," but legacy GL charts, older audits, and half of finance still say "deferred revenue", and they are not always the same set of accounts.
In the Metric Library
- The full fork, both definitions worked all the way through
- The trap that makes the number lie, on a real export
- Every formula variant, spelled out
- The reconciliation anchor, what to tie it to and when to refuse
Reference: FASB ASC 606-10-45 (Contract Liabilities) · IFRS 15