United States

FASB Proposes Additional Technical Corrections and Improvements to Revenue Topic

Sep 26, 2016
From the Financial Reporting Network

The FASB recently issued a proposed ASU, Technical Corrections and Improvements to Update No. 2014-09, Revenue from Contracts with Customers (Topic 606): Additional Corrections, which would affect narrow aspects of FASB ASU 2014-09. This proposal is in addition to the technical corrections and improvements to ASU 2014-09 that the Board proposed in May 2016.

The effective date and transition requirements for the proposal would be the same as those for ASU 2014-09. The comment period ends