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Good Morning,
I am new graduate and looking for some guidance on how to account for COS when company partners with another for product.
My company for the first time is partnering with customer where we supply the hardware and they supply the software. What I am not sure of is how to account for COS for this asset. The customer is not paying for the product but sharing a percentage of revenue. Does any one have experience with this and how to you set up your accounts for this?
Thank you
Leslie
I am new graduate and looking for some guidance on how to account for COS when company partners with another for product.
My company for the first time is partnering with customer where we supply the hardware and they supply the software. What I am not sure of is how to account for COS for this asset. The customer is not paying for the product but sharing a percentage of revenue. Does any one have experience with this and how to you set up your accounts for this?
Thank you
Leslie