FASB staff proposes taxonomy implementation guide on revenue and taxonomy improvements related to its proposal on collaborative arrangements

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Apr 27, 2018

On April 27, 2018, the Financial Accounting Standards Board (FASB) staff issued a proposed financial reporting taxonomy implementation guide, “Revenue From Contracts With Customers (Including Remodeling of Revenue and Cost of Revenue Presentation in the Statement of Income),” and proposed taxonomy improvements related to the proposed Accounting Standards Update (ASU), “Collaborative Arrangements (Topic 808): Targeted Improvements.”

The proposed revenue implementation guide provides “examples to help users of the Taxonomy understand the modeling for revenue from contracts with customers under FASB Accounting Standards Codification Topic 606 and the remodeling of revenue and cost of revenue presentation in the statement of income.”

Comments on the proposed implementation guide are due by May 30, 2018.

Comments on the proposed taxonomy improvements to the proposed ASU on collaborative arrangements are due by June 18, 2018.

Review the guide on the FASB's website.

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