Common Elements Used in this Topic

Field or Control	Description
Revenue Days	The days in an accounting period during which revenue is recognizable. For example, you have a service contract that ranges from January 1, 2003 through February 15, 2003 with contract liability distribution based on a monthly detail calendar. The number of days in the accounting period for February 2003 is 28, and the number of revenue days is 15.
Fully Recognizable Period	An accounting period in which the number of revenue days equals the number of days that are in the period.
Partially Recognizable Period	An accounting period in which the number of revenue days is less than the number of days that are in the period.
Mid-period Day	The day in an accounting period that determines whether the accounting period is fully recognizable or not recognizable at all. The midperiod day applies only when calculating contract liability by method 3 (spread evenly using a midperiod rule.) You can specify the midperiod day, or you can enable the system to assign the date. The system defines the midperiod day by dividing the number of days in the accounting period by two and rounding to the nearest whole number.
Remainder Revenue	The amount of revenue remaining after revenue that is assigned to a partially recognizable period is subtracted from the total revenue amount. Remainder value applies only when you calculate the contract liability by method 4: spread partial periods by days with the remainder spread evenly.