Global Standards for the world economy

Wednesday 15 July 2020

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Revenue Recognition

IASB meeting summaries and observer notes

 IASB / FASB December 2010



The IASB and FASB considered a summary of:

  • the responses to the exposure draft Revenue from Contracts with Customers that was published in June 2010, and
  • outreach activities undertaken in the last seven months.

The boards also approved the plan for redeliberating the issues raised by respondents to the exposure draft.

The boards will begin redeliberations in January 2011 by considering the two fundamental issues raised by respondents: separating a contract and determining when goods or services are transferred to a customer.


Date: 12/14/2010