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TRG discusses implementation of new revenue standard

  • TRG meeting Image

Jul 16, 2015

At its July 13, 2015, meeting, the FASB’s and IASB’s joint revenue transition resource group (TRG) discussed potential issues related to implementing the boards’ new revenue standard.

Topics discussed at the meeting included:

  • Consideration payable to a customer.
  • Credit cards.
  • The portfolio practical expedient and application of the variable consideration constraint.
  • Completed contracts at transition.
  • Application of the series provision and allocation of variable consideration.
  • The practical expedient for measuring progress toward complete satisfaction of a performance obligation.
  • Measuring progress when multiple goods or services are included in a single performance obligation.
  • Determining when control of a commodity is transferred.
  • Accounting for restocking fees and related costs.

For more information, see Deloitte’s TRG Snapshot.

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