Revenue recognition under IFRS and US GAAP: the proposed single model

Hosted by Ernst & Young's Global IFRS Services
On 24 June 2010, the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) released a proposal to improve the accounting for revenue under both IFRS and US GAAP. The proposal is designed to provide a single revenue model for most transactions under both accounting frameworks.

The proposal will affect all entities, and the changes may be significant for some IFRS reporters.

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