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Deloitte comments on FASB's proposed ASU on additional technical corrections and improvements to its new revenue standard

Published on: Oct 06, 2016

Deloitte & Touche LLP comments on the FASB's proposed ASU Technical Corrections and Improvements to Update No. 2014-09, Revenue From Contracts With Customers (Topic 606) — Additional Corrections, which was issued in September 2016.

An excerpt from the comment letter is shown below:

We support the Board’s efforts to clarify and improve the new revenue standard (ASC 606) to help reduce potential diversity in practice and the initial and ongoing costs of its application. . . . We encourage the FASB to continue to work with the IASB to converge, to the extent possible, these and other amendments to the revenue recognition guidance.

Full text of the comment letter is available below.


Correction list for hyphenation

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