FASB and IASB Reach Tentative Decisions on Certain Aspects of the Joint Revenue Recognition Project

Published on: 18 Dec 2009

On December 16, 2009, the FASB and IASB met to continue deliberations on the joint revenue recognition project. The boards reached tentative decisions on the following areas:

  • Warranties and product liability
  • Rights of return
  • Estimates of uncertain consideration

The tentative decisions are summarized on the December 16, 2009, FASB/IASB Joint Meeting Action Alert on the FASB’s website.  For more information, see the joint IASB-FASB project summary on the FASB’s website.

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