Accounting Standards Update · 2016

ASU 2016-08 — Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)

Affects606 Revenue from Contracts with Customers

This update releases Accounting Standards Update No. 2016-08--Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). The amendments in this Update will clarify the implementation guidance on principal versus agent considerations.

For more information, see the following:

Accounting Standards Update No. 2016-08 (PDF)

Issued: March 17, 2016

Text as published in the FASB Accounting Standards Codification, Basic View.