The IASB and FASB published a new joint revenue standard on revenue recognition in May 2014. It replaces existing IFRS and US GAAP guidance and introduces a new recognition model for contracts with customers. For some, the new standard will have a significant impact on how and when they recognise revenue. All companies will be subject to extensive new disclosure requirements.
Our new and forthcoming materials will help you understand the new requirements and assess the impact on your company.