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AcSB Exposure Draft – Clarifications to IFRS 15

  • IFRS - AcSB Image

Sep 11, 2015

On September 11, 2015, the Accounting Standards Board (AcSB) issued an Exposure Draft that corresponds to the International Accounting Standards Board's (IASB) Exposure Draft on this topic. Comments to the IASB and the AcSB must be received by October 28, 2015.

The proposed amendments include clarifications to and transition relief for IFRS 15, Revenue from Contracts with Customers. The clarifications relate to identifying performance obligations, principal versus agent considerations and licensing. The transition relief relates to modified contracts and completed contracts.

Review the exposure draft on the AcSB's Web Site.

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.