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Revenue Contract Agent
Reads customer contracts, flags revenue risk, drafts the accounting.
−65%1 (modeled outcome) contract review time for revenue accounting
Glossary
Revenue recognition
Definition
Revenue recognition is the accounting principle that determines when and in what amount revenue is recorded, based on when performance obligations are met.
Revenue is recognized when a company has done what it promised, not when it invoices or is paid. A one-year subscription billed up front is recognized over twelve months. A software license delivered on day one may be recognized on day one. A bundle of license, implementation, and support is split, and each part is recognized on its own pattern.
The rules are set by ASC 606 in the United States and IFRS 15 elsewhere. Getting them wrong is one of the most common causes of restatements, which is why revenue accounting teams read customer contracts closely and document their judgments.
Meridian's Revenue Contract Agent reads 100% of customer contracts for recognition-relevant terms and drafts the accounting analysis, so quarter-end is review rather than reading.
Related terms
Related agents
Agents that use this
Meridian agents whose work depends on revenue recognition. Each is scoped to one workflow and logs every action.
- 1.Modeled outcomes from design-partner deployments. Results vary by data quality, workflow scope, and approval policy. ↩
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