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Additional Guidance with respect to Section 3400 – AcSB

Date recorded:

At its meeting on December 12, 2018, the AcSB continued discussing the proposal to address stakeholders’ issues about insufficient guidance in Section 3400, Revenue. The Board focused on multiple-element arrangements, upfront non-refundable fees/payments, and bill-and-hold arrangements. In addition, the Board discussed proposed illustrative examples and disclosure requirements specific to the percentage of completion method. The AcSB will consider an updated draft of the proposed guidance, transition provisions, and the proposed effective date of the amendments at its January 2019 meeting. The Board plans to issue its Exposure Draft no later than the second quarter of 2019.

Review the Executive Summary on the AcSB's Web site.

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