15 June 2011: Revenue Recognition ED to be re-exposed
Posted by mostafa on 15 June, 2011
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This item was filled under Accounting
The IASB and FASB have decided to re-expose the Revenue Recognition ED.
Although both Boards agreed that according to the criteria for the consultation process a
re-exposure is not necessary, they supported a re-exposure since (a) a large number of
changes were made and (b) revenues are the top line in the comprehensive income statement
and everything else evolves from there.