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Revenue recognition

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Deloitte publishes guide to new revenue standard
22 Mar 2018
Deloitte has issued 'Revenue from Contracts with Customers — A guide to IFRS 15'. As the IASB's new revenue standard is now effective (for periods beginning on or after 1 January 2018 with earlier adoption permitted), this detailed guide helps entities consider the impact of the new standard. In some cases, IFRS 15 will require significant changes to systems and may significantly affect other aspects of operations.
EFRAG issues endorsement advice on Clarifications to IFRS 15
06 Jul 2016
The European Financial Reporting Advisory Group (EFRAG) has issued its endorsement advice letter to the European Commission for the use of the Clarifications to IFRS 15 'Revenue from Contracts with Customers' in the European Union (EU).
EFRAG issues draft endorsement advice on clarifications to IFRS 15
17 May 2016
The European Financial Reporting Advisory Group (EFRAG) has issued for comment its draft endorsement advice for the use of the clarifications to IFRS 15 'Revenue from Contracts with Customers' in the European Union (EU).
FASB clarifies revenue guidance on practical expedients
10 May 2016
The US Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) No. 2016-12 'Narrow-Scope Improvements and Practical Expedients', which amends certain aspects of the Board’s new revenue standard, ASU 2014-09 'Revenue From Contracts With Customers'.
Summary of the December 2015 ASAF meeting now available
22 Jan 2016
The staff of the International Accounting Standards Board (IASB) have made available a summary of the discussions of the Accounting Standards Advisory Forum (ASAF) meeting held in London on 7–8 December 2015.
FASB proposes clarifications to its new revenue standard
30 Sep 2015
The US Financial Accounting Standards Board (FASB) has issued a proposed ASU, 'Narrow-Scope Improvements and Practical Expedients', that would amend certain aspects of the Board’s May 2014 revenue standard, ASU 2014-09, 'Revenue From Contracts With Customers'.
FASB votes to defer the effective date of new revenue standard
09 Jul 2015
At its meeting today, the FASB affirmed its proposal to defer for one year the effective date of the new revenue standard (ASU 2014-09, "Revenue From Contracts With Customers") for public and nonpublic entities reporting under U.S. GAAP. In addition, the FASB affirmed that all entities would be permitted to early adopt the standard as of the original effective date in ASU 2014-09 (i.e., annual reporting periods beginning after December 15, 2016).
FASB proposes revenue ASU on licensing and identifying performance obligations
12 May 2015
The FASB has issued proposed ASU, 'Identifying Performance Obligations and Licensing', that would amend certain aspects of the Board’s May 2014 revenue standard, specifically the guidance on identifying performance obligations and the implementation guidance on licensing.
FASB proposes ASU to defer the effective date of the new revenue standard
30 Apr 2015
The FASB has issued a proposed ASU, 'Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date', which would defer for one year the effective date of the new revenue standard for public and nonpublic entities reporting under US GAAP.
IASB to discuss effective date of IFRS 15
20 Apr 2015
In preparation for the IASB's meeting next week, an agenda paper has been released today discussing the effective date of IFRS 15 and asking the IASB whether it wishes to defer the effective date in the light of (i) issues emerging from discussions of the Revenue Transition Resource Group (TRG) and (ii) the FASB’s tentative decision regarding the effective date.

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