International Reporting: August 2013

Standard-setters, FASB and IASB, are now working jointly on revenue recognition, says Peter Walton

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.

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