Revenue recognition for technology companies
18 Oct 2010
In June 2010, the IASB and the FASB jointly published an Exposure Draft (ED) on Revenue from Contracts with Customers.
What makes this ED even more significant is that the two GAAPs differ most in their approach: current IFRS has comparatively little guidance, compared to the series of detailed rules on application that US GAAP has.
Deloitte UK has now published Revenue recognition for technology companies, giving examples of how the proposed approach in the Exposure Draft will be applied in scenarios common to technology companies who report under both IFRS and US GAAP.
Click for Revenue recognition for technology companies (PDF 2,295k). Comment deadline on the ED is 22 October 2010.