Q&A available on FASB/IASB Revenue recognition project.

The AICPA has developed information for members on a new revenue recognition project that would affect nearly all contracts. In Dec. 2008, in conjunction with their joint project on revenue recognition, the Financial Accounting Standards Board and the International Accounting Standards Board both issued discussion papers titled "Preliminary Views on Revenue Recognition in Contracts with Customers." Comments on the documents were due in June and the boards are discussing the feedback. Because of the project's scope and importance...

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