Global Standards for the world economy

Wednesday 15 July 2020

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IASB meeting summaries and observer notes

 IASB / FASB May 2012


The IASB and the FASB considered a summary of the feedback received from outreach activities undertaken between September 2011 and May 2012 and the comment letters on the revised exposure draft Revenue from Contracts with Customers.

These summaries will be posted on the revenue recognition project page on the IASB and FASB websites.

The boards also approved a project plan for completing their redeliberations on the revenue recognition project and thereby finalising a common revenue standard for entities that apply either IFRSs or US GAAP. No other decisions were made.


Date: 5/22/2012