JOINT APPROACH TO REVENUE RECOGNITION

摘要

Both the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have announced that they intend to form a joint implementation committee for their converged revenue recognition standard. In the meantime, constituents can expect to be working hard on responding to due process documents this summer.Sue Lloyd, IASB senior director of technical activities, told the IFRS advisory council that the boards were concerned that, although the words of IFRS 14, Segment Reporting, and the US standard were exactly the same, people still might manage to read them differently. Consequently, they were going to form a joint implementation group which would draw on both boards and representative constituents to discuss any problems.