Subject. This article examines the Russian Accounting Standard (FSBU) 9/2025 – Income, developed by the Ministry of Finance of the Russian Federation, based on the International Financial Reporting Standard 15 – Revenue from Contracts with Customers (IFRS 15), which introduces new rules for the recognition and measurement of revenue and financial results from contracts. Objectives. The article aims to analyze the provisions of FSBU 9/2025 regarding the criteria for determining contracts for which revenue is recognized over time, as well as develop proposals for introducing a new concept and clarifying the criteria for recognizing contracts. Methods. For the study, I used the methods of analysis and synthesis, modeling, systematization, and generalization. Results. Based on the analysis of FSBU 9/2025 regarding the criteria for determining contracts with revenue recognition over time, the article introduces the original concept of a Long-term Cycle Contract and offers recommendations for clarifying the criteria for contract recognition. It justifies proposals for improving the Standard taking into account the principles of materiality and rationality. Conclusions and Relevance. The analysis of FSBU 9/2025 shows the need to clarify the criteria for evaluating contracts with revenue recognition over time. The research results may also contribute to improving the quality of accounting information and further enhancing the said Standard, and they can be applied in both theoretical and practical aspects of accounting and reporting and may be useful to professionals involved in preparing reports and applying FSBU 9/2025.
Keywords: revenue, income, long production cycle, financial results, percentage-of-completion method
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