NIF D-1 is a fundamental standard for correctly recognizing revenue in accounting, focusing on how and when a company should record revenue from contracts with its clients.<\/p>\n\n\n\n
The idea is to ensure that financial statements accurately reflect the transfer of goods or services to customers. Here we explain the key points of this standard.<\/p>\n\n\n\n
IFRS D-1 states that revenue should be recognized when the company has transferred control of the good or service to the customer. This means that the company must ensure that the customer now has the right to decide how to use and benefit from the product or service.<\/p>\n\n\n\n
Each contract must be broken down into components called \u201cobligations to be fulfilled.\u201d These can be separate products or services. It is important for the company to determine whether these components can be separated (as additional products) or whether they are part of a single delivery (as a service package).<\/p>\n\n\n\n
This price is the amount the company expects to receive for the goods or services. It may include fixed or variable amounts, such as discounts or incentives. Establishing the price clearly allows you to know how much will be recognized as revenue and when.<\/p>\n\n\n\n
The company must allocate the total price among each obligation in the contract, based on the value each represents. This can be done by using methods that compare the price of each element or by applying a proportional discount if it applies to the entire contract.<\/p>\n\n\n\n
The consideration may not be fixed in all contracts. In this case, the company estimates the most likely amount to be received, taking into account the possibility of changes due to external factors, such as discounts or returns. This estimate helps to reflect the income realistically and without overestimations.<\/p>\n\n\n\n
If the contract includes long payment terms, the company should make adjustments to reflect the time value of money, especially when payments extend over more than a year. This ensures that the income reflects the present value, not just the nominal amount agreed upon.<\/p>\n\n\n\n
Some obligations are fulfilled over time and therefore revenue should be recognized on a progressive basis. This is the case when the customer receives the benefits as the work progresses or when the product is developed and controlled by the customer during its creation, such as in construction projects.<\/p>\n\n\n\n
To measure progress in delivering goods or services, a company can choose between input methods (costs incurred) and output methods (products delivered). This allows it to tailor revenue recognition to the type of contract and the pace of project progress.<\/p>\n\n\n\n
If the contract includes warranties or allows for returns, the company should calculate the likelihood of these and reflect an adjustment in its revenue. This ensures that if a customer decides to return a product, the financial statement is already prepared for that scenario.<\/p>\n\n\n\n
Some contracts may include repurchase or consignment terms. In these cases, the company must consider whether these clauses affect the timing of revenue recognition. For example, if the company retains any rights to the product, revenue may not be recognized immediately.<\/p>\n\n\n\n
IFRS D-1 establishes a solid framework for companies to recognize revenue in a transparent and consistent manner. Understanding this standard not only helps to comply with accounting requirements, but also allows financial statements to better reflect the reality of each transaction, which is essential for making informed decisions.<\/p>\n<\/span>","protected":false},"excerpt":{"rendered":" NIF D-1 is a fundamental standard for correctly recognizing revenue in accounting, focusing on how and when a company should record revenue from contracts with its customers. The idea is to ensure that the financial statements accurately reflect the transfer of goods or services to customers. Here we explain [\u2026]<\/p>","protected":false},"author":5,"featured_media":3520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_joinchat":[],"footnotes":""},"categories":[8],"tags":[457,456,454,455],"class_list":["post-3810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-contabilidad","tag-ingresos","tag-ingresos-por-contratos-de-clientes","tag-nif-d-1","tag-reconocimiento-de-ingresos"],"yoast_head":"\n