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FASB/IASB Revenue Recognition Proposals Re-Exposed

Posted 12:00 PM by

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have agreed that their revised proposals for a common revenue recognition standard should be re-exposed. The original exposure drafts were issued in June 2010.

Stay tuned as the FASB and IASB intend to re-expose their proposals in the third quarter of 2011 for a comment period of 120 days. For additional information, view the FASB/IASB news release. Businesses across all industries, including the manufacturing and distribution industries, should continue to assess the considerations within these proposals to understand the implications to their operational results.

About the Author
Jason Patch is a partner in Katz, Sapper & Miller’s Audit and Assurance Services Group and leads the firm’s Manufacturing and Distribution Services Group. Jason works with clients to ensure accurate financial reporting, keeping an eye on their bottom line, helping them avoid risk, and maximizing efficiencies. Connect with him on LinkedIn.

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