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Final TRG Session Leaves Lingering Questions on Licenses

Tammy Whitehouse | November 11, 2015

Big 4 firms are pointing out some unresolved questions on how to apply the new revenue recognition standard, even after the standard setters’ joint Transition Resource Group hashed out the issues and failed to arrive at a consensus on how companies should proceed.

The Transition Resource Group of the Financial Accounting Standards Board and the International Accounting Standards Board met for their final scheduled session to work through four questions on its agenda that have been presented to the TRG as areas of uncertainty in applying the new standard. The group sought to distill the issues around how to treat customer options for additional goods and services, pre-production activities, restrictions and renewals associated with licenses, and whether fix-odds...

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