Global Standards for the world economy

Wednesday 22 January 2020

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Revenue Recognition

IASB meeting summaries and observer notes

 IASB / FASB 31 May 2011



The IASB and the FASB discussed how an entity should account for the costs of products manufactured for delivery under long-term production programs. The boards noted the potential to improve and converge the financial reporting for those costs. However, they agreed that the accounting for those costs is not in the scope of the revenue recognition project.

Date: 5/31/2011