FASB proposes guidance on principal-versus-agent considerations
31 Aug 2015
The FASB has issued a proposed ASU, "Principal Versus Agent Considerations (Reporting Revenue Gross Versus Net).”
The amendments, which are being proposed in response to feedback received by the FASB–IASB joint revenue recognition transition resource group, intend to clarify certain guidance related to principal versus agent considerations.
Comments on the proposed ASU are due by 15 October 2015.
The IASB has also issued an ED on this topic; the proposed amendments in the IASB’s ED are the same as those in the FASB’s ASU.
For more information, see Deloitte's related Heads Up as well as the press release and proposed ASU on the FASB’s Web site.
