[Verse 1] Contract arrives upon your desk, examine every clause Identify the written deal, scope boundaries without pause Customer and supplier clear, payment terms defined Enforceable by law's design, revenue intertwined Commercial substance must exist, not just paper trails Before you start the five-step dance, ensure nothing fails [Chorus] I-D-P-A-R, the sequence never bends Identify Performance Allocate Recognize Contract obligations price and time that flies Five steps to revenue, memorize these ties I-D-P-A-R keeps accounting standardized [Verse 2] Performance obligations next, distinct and separate goods Services promised to fulfill, delivered as they should Capable of benefit, customer can use alone Or easily distinguishable from what you've already shown Bundle or unbundle now, the judgment call is yours Each promise gets examined through these analytical doors [Chorus] I-D-P-A-R, the sequence never bends Identify Performance Allocate Recognize Contract obligations price and time that flies Five steps to revenue, memorize these ties I-D-P-A-R keeps accounting standardized [Bridge] Transaction price determined, variable consideration weighed Financing components separated, discounts properly displayed Stand-alone selling prices, allocate to each part Relative proportions guide your accounting art [Verse 3] Satisfaction over time or at a point complete Control transfers to customer, the recognition beat Measure progress carefully when time-based revenue flows Input methods, output methods, choose what best shows Journal entries finally made, the cycle finds its end Revenue recognized when all five steps blend [Chorus] I-D-P-A-R, the sequence never bends Identify Performance Allocate Recognize Contract obligations price and time that flies Five steps to revenue, memorize these ties I-D-P-A-R keeps accounting standardized [Outro] From contract ink to ledger lines IFRS fifteen defines Revenue recognition's shrine I-D-P-A-R divine
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