An education session was held on revenue recognition in preparation for decision making sessions on Thursday. No decisions were made at this session. The topics discussed included:
- Identifying separate performance obligations: clarifying the criteria for identifying separate performance obligations and distinct goods and services;
- Performance obligations satisfied over time: clarifying the criteria in paragraph 35 of the revenue recognition revised exposure draft;
- Licenses and rights to use; and
- Identifying onerous losses arising from contracts with customers.