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IASB Considers Deferral for Revenue Recognition Standard

Tammy Whitehouse | April 20, 2015

Now that the new revenue recognition standard is likely to be delayed by a year in the United States, international rule makers are considering the same for companies that file under International Financial Reporting Standards.

The staff of the International Accounting Standards Board is recommending the board consider deferring the required effective date for the new standard to Jan. 1, 2018, just as FASB is already advocating for companies that file under U.S. GAAP. “IFRS 15 is a converged standard with U.S. GAAP,” the staff writes in an agenda paper to prepare for the board’s next regular meeting. “We think that it...

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