Page 517 - Large Business IRS Training Guides
P. 517

Topic 606


                                                               Overview









               • May 2014 - “Revenue from Contracts with


                     Customers”


                      • FASB “Update No. 2014-09 (Topic 606)”



                      • IASB “IFRS 15”




               • Common revenue recognition standards for both


                     GAAP and IFRS financial statement preparation




               • Replaced previous GAAP and IFRS guidance on


                     revenue recognition from contracts with


                     customers







                                                                                                                                     18
   512   513   514   515   516   517   518   519   520   521   522