[Verse 1] Government sends money down the line Federal to provincial, crossing every sign Grants and subsidies flowing through the chain Recognition timing drives accountants insane When the transfer letter hits the desk today Do we book it now or wait for the display [Chorus] Conditional waits, unconditional goes Recognition follows where the obligation flows Transferor gives when the payment's made Transferee books when conditions fade C-U-N-D, unconditional's free C-O-N-D, conditions hold the key [Verse 2] Municipal gets funding for a brand new road But strings attached come with this episode Must complete the project by year-end date Revenue recognition has to wait Transferor records the full expense When legal obligation makes it dense [Chorus] Conditional waits, unconditional goes Recognition follows where the obligation flows Transferor gives when the payment's made Transferee books when conditions fade C-U-N-D, unconditional's free C-O-N-D, conditions hold the key [Bridge] Contributions restricted by the donor's will Time restrictions, purpose restrictions still When conditions lift like morning fog That's when revenue hits the log Substance over form will guide the way Match the accounting to reality [Verse 3] Healthcare transfer, education grant Federal promises that provinces can't Count as revenue until it's earned Conditional timing must be learned Cash received but not yet recognized Deferred revenue keeps books surprised [Chorus] Conditional waits, unconditional goes Recognition follows where the obligation flows Transferor gives when the payment's made Transferee books when conditions fade C-U-N-D, unconditional's free C-O-N-D, conditions hold the key [Outro] Transfer payments keep the system whole Government accounting plays its role Timing differences tell the tale When conditions lift, revenue sets sail
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