contract asset
[/ˈkɒntrækt ˈæset/]
nounpl: contract assets
ativo contratual
1. A right to consideration in exchange for goods or services transferred to a customer, recognized under IFRS 15 accounting standard when performance obligations are satisfied but payment has not yet been received
The company recognized a contract asset of $500,000 after delivering the software but before the customer payment was due.
A empresa reconheceu um ativo contratual de $500.000 após entregar o software, mas antes do pagamento do cliente vencer.
2. In accounting and finance, an asset resulting from a contract with a customer that represents an entity's right to receive consideration
Contract assets are reported on the balance sheet under current or non-current assets depending on the expected collection timeline.
Os ativos contratuais são reportados no balanço patrimonial como ativos circulantes ou não circulantes, dependendo do prazo esperado de recebimento.
Contract assets are integral to modern accounting practices under IFRS 15 (adopted in Brazil and internationally). This term became more prominent after 2018 when IFRS 15 replaced IAS 18, significantly impacting how companies in Brazil, São Paulo's financial district, and other regions report revenue. The concept reflects the shift from cash-based to accrual-based revenue recognition in contemporary business accounting.
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