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IFRS industry insights — Accounting in the Telecommunications industry — A new view of revenue emerges

Published on: Jul 09, 2010

By providing a single model, the IASB and FASB hope to eliminate the acknowledged weaknesses and inconsistencies within existing concepts and standards. This project is a key part of convergence between IFRSs and U.S. GAAP. The new standard will replace the existing standards on revenue recognition.

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