United States

FASB and IASB to Propose Amendments to Principal-Agent Guidance in Revenue Standard

Jun 25, 2015
From the Financial Reporting View and the IFRS Institute

This edition of Defining Issues reports that, at their June 2015 joint meeting, the FASB and IASB decided to propose amendments to their respective revenue recognition standards to clarify how the principal versus agent guidance should be applied for determining whether revenue should be presented gross (as a principal) or net (as an agent).

Read FASB and IASB to Propose Amendments to Principal-Agent Guidance in Revenue Standard