Revenue Transition Resource Group Holds First Meeting

FASB and IASB’s Joint Transition Resource Group for Revenue Recognition (TRG) met and discussed four issues related to the new revenue recognition standard.

Source: www.kpmg-institutes.com

Further indications that questions and issues will be abundant with the new revenue recognition standards.  Will answers or more specific rules be provided? Perhaps not, because to do so would move away from the “principle” approach.

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