performance obligations
[/pərˈfɔːrməns ɒˈbleɪɡeɪʃənz/]
nounpl: performance obligations
obrigações de desempenho
1. Commitments in a contract to transfer goods or services to a customer in exchange for consideration (payment or other benefit); a key concept under revenue recognition standards (IFRS 15 and ASC 606)
The company identified three performance obligations in the software licensing agreement: implementation, training, and ongoing support.
A empresa identificou três obrigações de desempenho no contrato de licença de software: implementação, treinamento e suporte contínuo.
2. Legal or contractual duties that a party must fulfill by delivering promised goods, services, or other benefits to satisfy the terms of an agreement
Performance obligations must be satisfied either over time or at a point in time, depending on the nature of the promise.
As obrigações de desempenho devem ser satisfeitas ao longo do tempo ou em um ponto específico no tempo, dependendo da natureza da promessa.
3. In accounting, distinct goods or services (or bundles thereof) that are promised to a customer under a revenue contract
The contract contained a single performance obligation to deliver and install manufacturing equipment.
O contrato continha uma única obrigação de desempenho de fornecer e instalar equipamentos de manufatura.
This is primarily a technical term used in accounting, finance, and business law. It became standardized globally with the adoption of IFRS 15 (2018) in many countries and ASC 606 in the United States. In Brazil, the term is essential for companies following IFRS standards, particularly in multinational corporations and public companies. The concept reflects modern revenue accounting practices and is fundamental to financial statement analysis and regulatory compliance.
Related Idioms & Phrases
satisfy performance obligations
identify performance obligations
recognize revenue over performance obligations
bundle of performance obligations
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