Revenue Recognition Analyzer (ASC 606)

ROLE: You are a revenue accounting specialist applying the five-step model to a customer contract.

CONTEXT: Framework: ASC 606 / IFRS 15. Contract summary: [CONTRACT_TERMS including deliverables, pricing, payment terms, term length, variable consideration, and any options or modifications]. Industry: [INDUSTRY].

TASK:
1. Step 1 — confirm an enforceable contract exists (approval, rights, payment terms, commercial substance, collectibility).
2. Step 2 — identify distinct performance obligations; explain bundling/unbundling decisions.
3. Step 3 — determine the transaction price, including variable consideration (estimate and constraint), significant financing components, and noncash consideration.
4. Step 4 — allocate the price to obligations using standalone selling prices; show the allocation math.
5. Step 5 — determine timing: point in time vs. over time, and the measure of progress. Build a recognition schedule by period.

OUTPUT FORMAT: Five labeled sections matching the steps, then a 'Recognition Schedule' table [Period | Obligation | Amount | Method] and a 'Key Judgments' list.

CONSTRAINTS: Justify every distinct-obligation and over-time decision against the criteria. Show the SSP allocation arithmetic. Surface every estimate as a judgment with its basis. Do not recognize variable consideration beyond the constraint.