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FASB proposes guidance on principal-versus-agent considerations

  • FASB (US Financial Accounting Standards Board) Image

Aug 31, 2015

The FASB has issued a proposed ASU, "Principal Versus Agent Considerations (Reporting Revenue Gross Versus Net)."

The amendments, which are being proposed in response to feedback received by the FASB-IASB joint revenue recognition transition resource group, intend to clarify certain guidance related to principal versus agent considerations.

Comments on the proposed ASU are due by October 15, 2015.

The IASB has also issued an ED on this topic; the proposed amendments in the IASB’s ED are the same as those in the FASB’s ASU.

For more information, see Deloitte's Heads Up newsletter as well as the press release and proposed ASU on the FASB’s Web site.

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