Since the ASB issued Application Note G: Revenue Recognition, as an Amendment to FRS 5, 'Reporting the Substance of Transactions' ('Application Note G') in November 2003, questions have arisen about the accounting for revenue (ie turnover) from contracts to provide services, and the UITF has been asked to provide guidance.  Although many of these requests specifically refer to services rendered by professional service firms (for example, firms of accountants and solicitors), the UITF believes the same principles should be applied in accounting for all service contracts.  This Abstract therefore applies to all contracts for services.