AcSB In Brief – Results of Stakeholder Survey on Section 3400
Feb 27, 2018
On February 27, 2018, the Accounting Standards Board (AcSB) released an overview of what stakeholders think about the existing Section 3400, "Revenue".
The survey informed the AcSB about stakeholders’ issues when applying Section 3400, including to what extent and why stakeholders refer to other sources for revenue guidance.
The AcSB directed staff to develop a project proposal to address the issues raised by stakeholders. It also directed staff to compare the current risks-and-rewards model with a control-based model based on the concepts in the standards on Revenue from Contracts with Customers in IFRS® Standards and U.S. GAAP.
The AcSB will consider a project proposal.
Review the publication on the AcSB's website.
