# Contract asset

> Contract asset — Revenue recognized ahead of an unconditional right to payment — the right still depends on something other than the passage of time.

Source: https://lopifi.com/glossary/contract-asset
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

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**What is contract asset?** In accounting, contract asset means revenue recognized ahead of an unconditional right to payment — the right still depends on something other than the passage of time.

## Words this system refuses for it

- unbilled receivable
- accrued revenue

- **Category:** Revenue recognition
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** revenue, asset