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.

IFRS in Focus — IASB issues revenue recognition exposure draft

Published on: 27 Jun 2010

On 24 June 2010, the International Accounting Standards Board (IASB) and U.S. Financial Accounting Standards Board (FASB) published a joint exposure draft ED 2010/6 Revenue from Contracts with Customers.

The ED is the next step in developing an entirely new revenue recognition standard. The Boards’ objectives are to develop a common, comprehensive, principles-based revenue standard that can be applied consistently to complex transactions across a wide range of industries. The Boards believe that the proposals would be a significant improvement over the current revenue recognition guidance that can be vague, inconsistent and difficult to apply to complex transactions.


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.