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The Subscription Revenue Puzzle

The SaaS Contract
A signed software contract on a desk

You are an accountant at 'CloudFlow', a fast-growing SaaS company. They've signed a 3-year contract for ₹36,00,000. It includes software access, a one-time setup fee, and ongoing technical support. The sales team wants to recognize the full amount immediately.

According to Ind AS 115, what is the very first step in recognizing revenue for this contract?