This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

New project page: Liabilities and revenue recognition

  • News default Image

28 Aug 2002

IASB's work programme now includes a project on Liabilities and Revenue Recognition.

The project addresses certain key interrelated conceptual issues that underlie financial reporting:
  • The distinction between liabilities and equity.
  • Liability recognition, including guidance on whether an item meets the definition of a liability and, if so, the criteria for recognising liabilities in the financial statements.
  • General principles for determining when revenue should be recognised in the financial statements. IASB staff are working directly on the revenue recognition component of the project. The IASB is working with the US Financial Accounting Standards Board on the liability definition and recognition components.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.