Global Standards for the world economy

Friday 14 August 2020

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Revenue Recognition

Revised exposure draft and comment letters [Nov 2011]

Revised exposure draft and Comment letters

On 14 November 2011 the IASB and the FASB issued for public comment a revised draft standard to improve and converge the financial reporting requirements of International Financial Reporting Standards (IFRSs) and US General Accepted Accounting Principles (GAAP) for revenue (and some related costs) from contracts with customers.


The boards decided to re-expose the proposals because of the importance of the financial reporting of revenue to all entities and the boards' desire to avoid unintended consequences arising from the final standard.

Submit a comment letter

The comment letter deadline was 13 March 2012.

View the Comment letters on the FASB website.

Due process document Accompanying material
Exposure Draft:  Revenue from Contracts with Customers [PDF] Illustrative Examples: Revenue from Contracts with Customers [PDF]

Basis for Conclusions: Revenue from Contracts with Customers [PDF]
公開草案: 顧客との契約から生じる収益 [Japanese] [PDF] 結論の根拠:  顧客との契約から生じる収益 [PDF]

設例: 顧客との契約から生じる収益 [PDF]
Expos�-sondage:  Produits des activit�s ordinaires tir�s de contrats avec des clients [French] [PDF] Updated version added, 31/01/2012

Related information

 Click here to read the press release

Click here for a Snapshot summary of the November 2011 exposure draft

Listen to a podcast on the November 2011 exposure draft

Click here for Feedback Summary from Comment Letters and Outreach

Click here for Summary of Outreach Activities