A contract for a typical SaaS company, billed annually, is actually a liability (from an accounting perspective) up until the point where the contract has been completely fulfilled.
Others (say, an investor) might view a contract as an “asset” because of the future value it might bring, but not in a traditional accounting sense.
Others (say, an investor) might view a contract as an “asset” because of the future value it might bring, but not in a traditional accounting sense.