United States

FASB Amends Performance Obligations and Licensing Guidance in Revenue Standard

Apr 14, 2016
From the Financial Reporting View

This edition of Defining Issues reports that the FASB recently issued an Accounting Standards Update (ASU) that amends the revenue guidance on identifying performance obligations and accounting for licenses of intellectual property. The ASU changed the FASB’s previous proposals on renewals of right-of-use licenses and contractual restrictions.

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