We are revising our software licenses to be "all-inclusive," meaning there is one price for a term that includes the license, maintenance, and services. Most agreements are three years. How do we recognize revenue under GAAP?
asked by Maddy
The contract is a 3 year contract with 3 one-year automatic renewals - payment for a full year due at the beginning of each year of the contract. The renewal periods can be canceled with no penalty upon notice from the customer at least 30 days before the renewal period begins.
asked by sloane5