FASB / IASB: Revenue recognition standard issues

FASB / IASB: Revenue recognition standard issues

The Joint Transition Resource Group (TRG) for Revenue Recognition met for the fourth time this week, and discussed eight issues related to the revenue recognition standard.

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The TRG members generally agreed that stakeholders can understand and apply the guidance in the standard for the majority of the issues discussed. However, additional guidance or standard setting for some issues may occur to narrow the potential for diversity in practice.

Read an April 2015 report [PDF 795 KB] prepared by KPMG LLP: Defining Issues: Revenue Transition Group Discusses Consideration Payable to a Customer, Series Guidance

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