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FASB discusses revenue recognition at March 9 meeting

  • FASB meeting Image

Mar 11, 2016

At its March 9, 2016, meeting, the FASB discussed whether to amend the requirements in FASB Accounting Standards Codification Topic 606, “Revenue From Contracts With Customers,” on disclosures about an entity’s remaining performance obligations.

The Board decided to (1) offer entities a practical expedient related to these requirements “for certain types of variable consideration” and (2) enhance the qualitative disclosure requirement in ASC 606-10-50-15.

For more in­for­ma­tion, see De­loitte’s related journal entry as well as the meeting minutes on the FASB’s Web site.

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