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IASB Follows Suit on Deferring Revenue Recognition One Year

Tammy Whitehouse | July 23, 2015

The International Accounting Standards Board has decided to delay the effective date of its revenue recognition standard by one year, just as the Financial Accounting Standards Board has pushed out its required implementation date to 2018.

hoogervorst-hans-updatedIASB voted to confirm a one-year deferral because it is in the midst of developing clarifications to the standard that are intended to aid implementation. The board also approved the deferral because it would make the start dates for both new standards consistent. “The deferral will give companies more time to implement...

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