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Proposed RR-FASB-IFSB

Proposed RR-FASB-IFSB - Proposed Accounting Standards...

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Revenue Recognition (Topic 605) Revenue from Contracts with Customers This Exposure Draft of a proposed Accounting Standards Update of Topic 605 is issued by the Board for public comment. Written comments should be addressed to: Technical Director File Reference No. 1820-100 Proposed Accounting Standards Update Issued: June 24, 2010 Comments Due: October 22, 2010
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The FASB Accounting Standards Codification™ is the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities. An Accounting Standards Update is not authoritative; rather, it is a document that communicates how the Accounting Standards Codification is being amended. It also provides other information to help a user of GAAP understand how and why GAAP is changing and when the changes will be effective. Notice to Recipients of This Exposure Draft of a Proposed Accounting Standards Update The Board invites individuals and organizations to send written comments on all matters in this Exposure Draft of a proposed Accounting Standards Update. Responses from those wishing to comment on the Exposure Draft must be received in writing by October 22, 2010. Interested parties should submit their comments by email to [email protected] , File Reference No. 1820-100. Those without email should send their comments to “Technical Director, File Reference No. 1820-100, FASB, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116.” Do not send responses by fax. All comments received constitute part of the FASB’s public file. The FASB will make all comments publicly available by posting them to its website and by making them available in its public reference room in Norwalk, Connecticut. An electronic copy of this Exposure Draft is available on the FASB’s website until the FASB issues a final Accounting Standards Update. Financial Accounting Standards Board of the Financial Accounting Foundation 401 Merritt 7, PO Box 5116, Norwalk, Connecticut 06856-5116 Copyright © 2010 by Financial Accounting Foundation. All rights reserved. Permission is granted to make copies of this work provided that such copies are for personal or intraorganizational use only and are not sold or disseminated and provided further that each copy bears the following credit line: “Copyright © 2010 by Financial Accounting Foundation. All rights reserved. Used by permission.”
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Proposed Accounting Standards Update Revenue Recognition (Topic 605) Revenue from Contracts with Customers June 24, 2010 Comment Deadline: October 22, 2010 CONTENTS Paragraph Numbers Introduction and Questions for Respondents IN1–IN29 Proposed Guidance 1–85 Introduction 1–4 Objective 5 Scope 6–7 Recognition of revenue 8–33 Identifying the contract 8–11 Combination and segmentation of contracts 12–16 Contract modifications 17–19 Identifying separate performance obligations 20–24 Satisfaction of performance obligations 25–33 Measurement of revenue 34–53 Determining the transaction price 35–49 Allocating the transaction price to separate performance obligations 50–53
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  • Spring '12
  • Bernet,Antoninio,Gazzar
  • entity, International Financial Reporting Standards, Financial Accounting Standards Board, transaction price

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