contract assets
[ˈkɒntrækt ˈæsets]
nounpl: contract assets
ativos contratuais
1. Assets recognized when a company has the right to receive consideration for goods or services transferred to a customer, but has not yet received payment or the right to payment is conditional on future performance
The company recognized contract assets when it completed the first phase of the project but payment was contingent on final delivery.
A empresa reconheceu ativos contratuais quando completou a primeira fase do projeto, mas o pagamento era condicionado à entrega final.
2. In accounting (IFRS 15 and ASC 606), a contract asset represents an entity's right to consideration in exchange for goods or services that have been transferred
Under IFRS 15, contract assets must be assessed for impairment at each reporting date.
Sob IFRS 15, os ativos contratuais devem ser avaliados quanto ao ajuste ao valor recuperável em cada data de relatório.
Contract assets are a fundamental concept in modern international accounting standards (IFRS 15 and ASC 606), implemented in Brazil through CPC 47. The term reflects the shift from revenue recognition based on payment received to recognition based on performance obligations fulfilled, making it essential in corporate finance and auditing discussions in both Brazilian and Anglo-American business contexts.
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