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FASB proposes revenue ASU on licensing and identifying performance obligations

  • FASB (US Financial Accounting Standards Board) Image

May 12, 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.

The amendments are being made in response to feedback received by the FASB–IASB joint revenue recognition transition resource group (TRG), which was formed to address potential issues associated with the implementation of ASU 2014-09.

Comments on the proposed ASU are due by June 30, 2015.

For more information, see the related Deloitte Heads Up as well as the proposed ASU on the FASB’s Web site.

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