This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Revenue from Contracts with Customers - IASB

Date recorded:

At its meeting on December 15-16, 2015, the IASB continued its the discussions on the Exposure Draft. In particular, the IASB: (i) considered the feedback received to date on its ED; (ii) discussed the following topics related to the ED: (a) identifying performance obligations; (b) licensing; (c) practical expedients on transition; and (d) other topics for which the IASB decided not to propose any amendments to IFRS 15; (iii) considered an issue relating to the application of requirements in IFRS 15 to constrain estimates of variable consideration.

In addition, the IASB and the FASB (the Boards) met on December 16, 2015 to re-deliberate amendments proposed to clarify the principal versus agent guidance in IFRS 15 and Topic 606, in the light of the feedback received on their respective Exposure Drafts.

Review the IASB Update.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.