Wednesday 28 September 2016
The objective of this project is to clarify the guidance in IFRS 15 in respect of issues arising from the discussions of the Transition Resource Group for Revenue Recognition (TRG).
The discussions of the TRG highlighted potential diversity in stakeholders’ understanding of some topics in IFRS 15.
Those topics have been referred to the IASB and the FASB (the Boards) for further consideration. The Boards discussed the specific issues arising from the TRG discussions on those topics, and the IASB and the FASB each issued amendments in order to clarify the requirements in IFRS 15 and Topic 606.
The International Accounting Standards Board has issued amendments to the Revenue Standard, IFRS 15 Revenue from Contracts with Customers
IASB completes decision-taking on clarifications to its Revenue Standard
IASB confirms deferral of effective date by issuing formal amendment to the revenue Standard
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