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Journey: Controller runs the IFRS 15 revenue cut-off at period close

Persona: Group Controller responsible for the rev-rec close and audit defence. Spec: bookkeeping-ifrs15-revenue (REQ-IFRS15-005, REQ-IFRS15-006, REQ-IFRS15-007)

Goal​

Recalculate contract asset / contract liability balances for the period, confirm the GL postings balance, and clear the modification queue before locking the period.

Steps​

  1. Open Bookkeeping → Revenue Recognition (IFRS 15) → Contract Balances to review the current deferred-revenue (contract liability) and accrued-revenue (contract asset) positions per contract.
  2. Trigger the revenue cut-off for the period via GET /api/revenue-cutoff? administration_id=<adm>&period_end=YYYY-MM-DD. For each contract the service sums cumulative recognised revenue from RevenueRecognitionEvent, compares it to the cumulative billed amount, and derives:
    • contract asset = max(0, recognised − billed) (right to consideration), or
    • contract liability = max(0, billed − recognised) (deferred revenue), per IFRS 15.116-119 (REQ-IFRS15-007).
  3. The cut-off is idempotent — re-running it on the same event + billing snapshot yields identical rows, so the GL is never double-posted. The GL posting itself reverses the prior-period lines and posts fresh ones (debit accrued-revenue / credit revenue) via the materialisation on RevenueRecognitionEvent.
  4. Open Contract Modifications and clear any pending amendments. The system proposes a classification (new-contract | not-distinct-cumulative | prospective) per IFRS 15.18-21; the controller confirms or overrides it with a documented reason (REQ-IFRS15-006).
  5. For cost-to-cost construction contracts, confirm the revised percentage of completion (actual cost / revised estimate) and watch the margin indicator for onerous-contract signals (REQ-IFRS15-005).

Outcome​

The period closes with contract asset/liability balances reconciled to the GL, all modifications classified and traceable, and an idempotent cut-off the auditor can re-run without side effects.