Proposed Accounting Standards Update · 2015
Proposed ASU 2015-250 — Revenue from Contracts with Customers (Topic 606)
The proposed Update would clarify guidance related to performance obligations and licensing contained in the new revenue recognition standard.
The proposed Update includes targeted improvements based on input the Board received from the Transition Resource Group for Revenue Recognition and other stakeholders. The Update seeks to proactively address areas in which diversity in practice potentially could arise, as well as to reduce the cost and complexity of applying certain aspects of the guidance both at implementation and on an ongoing basis.
For more information, see the following:
Issued: May 12, 2015
Comments Due: June 30, 2015
The Exposure Draft identifies the Codification Sections that may be changed upon issuance of this guidance.
Text as published in the FASB Accounting Standards Codification, Basic View.