United States

FASB to Clarify Revenue Standard’s Collectibility and Completed Contracts Guidance

Aug 31, 2015
From the Financial Reporting View

This edition of Defining Issues reports that at its August 31, 2015, meeting, the FASB decided to clarify the guidance on collectibility and what constitutes a completed contract at transition to help entities implement the new revenue recognition standard. The proposed amendments will be included in an exposure draft that will include other improvements and clarifications to the revenue standard.

Read FASB to Clarify Revenue Standard’s Collectibility and Completed Contracts Guidance