Terms of Use

1. Acceptance of Terms

By accessing or using RevLucid ("the Site"), you agree to be bound by these Terms of Use. If you do not agree with any part of these terms, do not use the Site.

2. Educational Content Only — Not Professional Advice

All content on RevLucid — including guides, checklists, tools, templates, calculators, and examples — is provided for educational and informational purposes only.

RevLucid is not a licensed accounting firm, audit firm, law firm, or financial advisory firm. Specifically:

• The content does not constitute accounting advice, audit guidance, legal advice, or tax advice.
• No accountant–client, auditor–client, or attorney–client relationship is created by your use of this Site.
• RevLucid does not represent that its content is accurate, complete, current, or suitable for your specific situation.
• Revenue recognition involves judgment calls that depend on the specific facts and circumstances of your contracts. The information here cannot substitute for professional advice tailored to your situation.

Always consult a qualified accountant, CPA, chartered accountant, or auditor before implementing any accounting policy or revenue recognition treatment.

3. No Warranty

The Site and its content are provided on an "as is" and "as available" basis without any warranties of any kind, either express or implied, including but not limited to:

• Warranties of merchantability or fitness for a particular purpose
• Warranties that the content is accurate, complete, reliable, or current
• Warranties that the Site will be uninterrupted or error-free

RevLucid expressly disclaims all warranties to the fullest extent permitted by law.

4. Limitation of Liability

To the maximum extent permitted by applicable law, RevLucid and its operators shall not be liable for any direct, indirect, incidental, special, consequential, or punitive damages arising from or related to:

• Your use of or reliance on any content, tools, or information on the Site
• Accounting policy decisions made based on Site content
• Audit findings, restatements, regulatory actions, or penalties resulting from any revenue recognition treatment
• Errors, omissions, or inaccuracies in Site content
• Any business or financial losses resulting from use of this Site

This limitation applies even if RevLucid has been advised of the possibility of such damages.

5. Indemnification

You agree to indemnify, defend, and hold harmless RevLucid and its operators from and against any claims, liabilities, damages, judgments, penalties, losses, costs, and expenses (including reasonable legal fees) arising from:

• Your use of the Site or its content
• Your violation of these Terms
• Your application of any accounting treatment or revenue recognition policy based on Site content
• Any audit findings, regulatory actions, or third-party claims related to accounting decisions you made

6. Intellectual Property

All content on RevLucid — including text, tools, examples, and design — is owned by or licensed to RevLucid. You may use the content for personal, non-commercial reference purposes. You may not reproduce, redistribute, or commercialize Site content without express written permission.

7. Third-Party Standards

RevLucid references IFRS 15 (issued by the IASB) and ASC 606 (issued by the FASB). These are publicly available accounting standards. RevLucid is not affiliated with, endorsed by, or associated with the IASB, FASB, AICPA, PCAOB, or any accounting standards body.

8. Changes to These Terms

RevLucid may update these Terms from time to time. Continued use of the Site after changes constitutes acceptance of the updated Terms. The "last updated" date at the top of this page reflects when the Terms were last revised.

9. Service Discontinuation

RevLucid reserves the right to discontinue or suspend the service, in whole or in part, at any time and for any reason. In the event of a full discontinuation, RevLucid will endeavour to provide reasonable advance notice to newsletter subscribers via email where possible.

10. Governing Law

These Terms are governed by the laws of the applicable jurisdiction. Any disputes shall be resolved through binding arbitration or in the courts of competent jurisdiction.