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Journal entry — Revenue — FASB and IASB staffs make further progress

Published on: May 18, 2012

The FASB and IASB staffs recently issued papers on the following revenue-related topics for discussion at their May 2012 joint meeting: (1) feedback from comment letters and outreach, (2) a summary of the staffs’ outreach activities, and (3) the staffs’ project plan for redeliberations. In addition, the staffs are considering performing other relevant activities and have developed a timeline for completion of a common revenue standard. The staffs expect redeliberations to be substantially complete by the end of 2012 and to issue a final standard in early 2013.

For additional details on the staff papers, see the IASB’s Web site.

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