REVENUE RECOGNITION COLLABORATION

摘要

The IASB and US Financial Accounting Standards Board (FASB) are setting up a joint resource group to help with the transition to the final converged standard on revenue recognition, set to be issued later this year. The group will be made up of 10 to 15 specialists representing financial statement preparers, auditors, regulators, users, and other stakeholders as well as members of the IASB and FASB, with details of the membership announced after the final standard is issued. The decision to create a joint transition resource group comes after disagreements between the two boards at the end of last year, which included concerns over the slow pace of the US approach to adopting IFRS and differing opinions over the standards for credit losses in their financial instruments convergence project.