Heads Up — FASB issues revised exposure draft on revenue recognition
Published on:
15 Nov 2011
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This issue of Heads Up discusses the FASB’s and IASB’s jointly issued revised exposure draft (ED) Revenue From Contracts With Customers. The revised ED, released by the FASB as a proposed Accounting Standards Update (ASU), is the result of months of redeliberations of their June 2010 ED. The proposed ASU outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and would supersede most current revenue recognition guidance.
